Downslide in share prices on Lyons Range

By A Special Correspondent

CALCUTTA, OCT. 15. The slump in share prices noted in the recent past has persisted on the Calcutta Stock Exchange last week with values dipping further alround under the weight of renewed selling pressure which started off from the premier market at Mumbai and swiftly spread to others including Lyons Range.

The pressure was felt more in the infotech group which bore the brunt to post substantial losses, despite the fact that some of the companies have come out with impressive working results for the second quarter. The easing trend surfaced all sections of the market as can be seen from the widespread fall in prices as the week finished. In tune with the declines in values the indices also suffered major losses with the CSE's 40-share index losing by 115 points at 1682.50.

The business volume, however, was not large because all the major operators who had got out of the market ahead of the puja holidays stayed away. Short term investors consequently became panicky and unloaded their holdings. Simultaneously, some of the speculators who had vulnerable positions started unwinding and this in turn aided the pace of the downward slide in share prices. Even as the week finished there was no visible sign of a change for the better as sellers were still in a commanding position keeping buyers at bay.

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Section  : Business
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