27 June 2004	Sunday	08 Jamadi-ul-Awwal 1425

KARACHI, June 26: The weighted average carryover rates suffered a sharp setback again falling into a single-digit at 8.1 from 14.1 per cent a week earlier.

The sharp decline in the rates over the week was partly attributed to steep fall in share values owing to CVT-related selling and partly to comfortable liquidity position, analysts said.

The perception that there may not be any problem on the settlement day on June as financiers have enough money in their coffers thanks to terribly liquid inter-bank money market was another negative factor behind the "great downward push", they said.

The badla rates on the carryover market on the Lahore Stock Exchange also fell to 8.6 per cent from 12.6 per cent a week earlier.

According to figure complied by a leading research house, investment on the carryover market also fell by Rs1.4bn at Rs21.8bn from Rs23.2bn a week earlier because of sharp decline in the share value of leading shares owing to heavy unloading by weak-holders and jobbers for the second week in a row. Volume figure also shrank.