April 16, 2006	Sunday	Rabi-ul-Awwal 17, 1427

KARACHI, April 15: The CFS investment on the Karachi Stock Exchange last week briefly crossed the ceiling of Rs25 billion at Rs27.17 billion owing to heavy demand for funds apparently to invest in the leading shares, notably National Bank and D.G. Khan Cement.

But at the weekend session it fell below ceiling at Rs24.50bn as compared to previous week’s Rs23.9 billion but CFS financing rates stayed unchanged around 17.9pc, analysts said.

CFS investment on the Lahore Stock Exchange rose to Rs2.30 billion, while the rates were quoted at 15.8 per cent, they added.

As a result, leverage positions totalling Rs45.2 billion or 1.3 per cent of the market capitalisation accounted for 6.6 per cent of the free float, the ratio being a pretty stable as compared to previous figures, they said.

The developing situation on the futures counter is progressively entering into a danger zone, some others said, adding “both open market interest and future spreads have crossed the Rs20 billion-level at Rs20.64 billion, higher 14 per cent and the latter rose to 21.2 per cent from the previous 20.4 per cent.