May 14, 2006	Sunday	Rabi-us-Sani 15, 1427

KARACHI, May 13: Weighted average CFS rates on the Karachi Stock Exchange last week again rose to 17.1 per cent from the previous 15 per cent owing to tight liquidity position on the inter-bank money market.

Analysts at a leading research house said the mid-week fall in rates to 14.70 per cent, however, reflected that some of the financial institutions tried to finance the share business leading to the decline. But the rates rose at the fag-end of the trading week.

But on the other hand, investment under the CFS remained capped around the upper limit of Rs24.5 billion, as investors did not try to go beyond it despite pressure on money supply, some others said.

They said owing to dull trading conditions prevailing on the ready counter, open interest in the futures market rose to Rs16.99 billion from the previous Rs15.50 billion a week earlier, showing a decline of 9.5 per cent.

Average future spreads, ruling in single digit for the last couple of weeks, fell to 7.74 per cent from 9.70 per cent a week earlier. Mid-week saw them falling to five per cent. Some of the leading shares, notably PTCL, DG Khan Cement and Lucky Cement, ruled below five per cent.