KARACHI, Dec 3: After having touched the week’s peak level of 18 per cent, the weighted average CFS rates finally settled at the previous rate of 16.2 per cent despite the fact that turnover figure posted a modest rise.
Analysts at a leading research house said the volume figures should have risen smartly in a buoyant market but investment remained capped at Rs25 billion, limiting the investors’ share manoeuvring.
But on the other hand, weighted average spread of stock futures rose to 19.10 per cent as compared to the previous 17.00 per cent. The week’s highest level touched 21.7 per cent.
They said open interest in stock futures in the ruling December contracts was 39 per cent higher at Rs14.4 billion but in terms of number of contracts it stood at 0.288m as compared to 0.217m a week earlier.
“The increase in open interest is expected to push down the total leverage in the coming weeks as is evident from the ruling December futures,” they said.
Total leverage on the other hand suffered a decline of three per cent at Rs39.4 billion as against Rs40.6 billion a week earlier owing to the maturity of the November contracts.
According to them, investment on the Lahore Stock Exchange also closed at the upper limit of Rs2.3 billion, but the CFS rates on the other hand fell to 18,3 per cent from the previous 25 per cent.
