DEATH ON LYONS RANGE (trading at the Calcutta Stock Exchange fell drastically after a payment crisis in May 2001).

(From India Business Insight)

Trading at Lyons Range, as the Calcutta Stock Exchange (CSE) is popularly known, has fallen drastically after a payment crisis in May 2001 resulting in defaults of about Rs200 crore. The other contributing factors are the introduction of online trading and the emergence of the National Stock Exchange (NSE).

In the early 1990s, CSE accounted for about 30 percent of the daily volumes traded on a national basis. Now, the daily volume has slumped to 8 percent. It annual turnover, which peaked …