KARACHI, Sept 25: Carryover rates on the Karachi Stock Exchange posted a fresh increase of 200 basis points at 9.9 per cent from the previous 7.9 per cent because of tight money market, analysts said.

The two massive upward movements witnessed in the KSE 100-share index at the fag-end of the previous week has, altogether changed future market outlook, not earlier speculated by the fund managers.

"Unlike the normal trading norms, carryover rates moved in opposite direction as investment figure fell, while the rates rose to 9.9 per cent," analysts said.

The carryover rates on the Lahore Stock Exchange also rose to 11.2 per cent from the previous 9.8 per cent followed by strong speculative buying in some of the shares in anticipation of higher payouts.

According to figures compiled by a leading research house, investment on the carryover market declined to Rs23.75bn from the last week's Rs23.90bn because of a modest fall in carryover volume. Total investment on both the stock exchange fell to Rs25.7bn from the previous Rs26.3bn.

PTCL topped the list of volume leaders as it netted about 14m shares owing to the massive buying in it at the fag-end of the week. Its carryover rate, however, declined into a single digit after earlier rising sharply higher. But on the other hand carryover rates of OGDC rose to 8.5 per cent from the previous 6.7 per cent and that of DG Khan Cement soared to 13.9 per cent.