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CSE confident of successful pay-in, pay-out

The Calcutta Stock Exchange on Wednesday expressed the confidence that the pay-in and pay-out for the settlement number 150 would be completed as per schedule.

"It is estimated that the total pay-in for the last settlement which is due on Thursday will be successfully completed," a CSE committee member said.

The total pay-in was expected to be less than Rs 2.10 billion, he said, adding the final figures would be available by Thursday as the settlement number 150 had ended on March 15.

"We have just received the balance sheet for the last settlement and the exact figures are being calculated," an exchange official said.

Meanwhile, the downward trend in share values at bourses across the country continued unabated as BSE index came down by over 100 points after opening at 3736 when it touched 3618 points.

However, short covering by operators along with selective institutional buying helped index recover marginally to 3665 slightly before noon.

Brokers said the decline in values was mainly because of weak Nasdaq to which the payment crisis at CSE fuelled hectic selling.

A committee member said the prices would improve once the existing problem was shorted out.

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