KARACHI, May 21: After having risen to 15 per cent, the average weighted carryover (badla) rates on the Karachi Stock Exchange last week fell to 12.4 per cent from the previous week’s 12.7 per cent. Analysts at a leading brokerage and research house attributed the lacklustre performance on the badla market to highly erratic price movements on the Karachi Stock Exchange amid alternate bouts of buying and selling.
The badla rates on the Lahore Stock Exchange suffered a sharp decline to 12.3 per cent from the previous 20 per cent. The fall may have been caused by a highly liquid inter-bank money market and lower credit costs to finance the leveraged positions, they said. Investment on the carryover market rose by Rs1.1 billion at Rs27 billion from the previous Rs25.9 billion, because of minor price movements in the share values of some leading shares.
Share volume also rose to 266m shares from 252m shares a week earlier as some of the leading shares, notably PTCL, OGDC and some others were actively traded amid two-way movements.
