India: Market Cautious Amid Weak Rupee

Slow trading, with somedealers missing the Hong Kong show due to next week's Ganesh Chaturthifestival. Sentiment down following rupee depreciation to record low (INR 72.10/$1),bankruptcy rumors and tightened bank credit. Small manufacturers cautious and reducingpolished production. Drop in demand for small polished diamonds evident inrough market at De Beers sight.

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