KARACHI, July 9: Investment on the Carry Over Trade (COT) fell further from Rs11.9bn from the previous Rs12.7bn during the last week after having touched the mid-week low of 11.9 per cent, showing a decline of seven per cent.

Analysts at a leading research house attributed the decline to a considerable fresh fall in the traded volume and lower COT rates. Volume fell to 115m shares from the previous 125m shares.

The weighted average COT rates showed a fresh decline at 12.5 per cent from the previous 14.9 per cent owing to a possible extension in its phasing out as the KSE has sought official permission to ease pressure on the liquidity, they said.

COT rates on the Lahore Stock Exchange also fell from 17 per cent to 13.6 per cent and so did investment at Rs1.11bn from the previous Rs1.13bn.

The interesting feature was that both COT rates and future spreads moved in opposite direction as the former fell and the latter rose. Leveraging, however, increased to Rs22.7bn from the previous Rs21.7bn.