August 27, 2006	Sunday	Sha'aban 2, 1427

KARACHI, Aug 26: The financing under CFS on the Karachi Stock Exchange last week showed further decline as demand for funds did not pick up owing to steep decline in share values.

According to analysts at a leading research house, the total financing was well below the official ceiling of Rs24.5 billion at Rs20.4 billion after opening around Rs23.8 billion.

A steep decline of about 1,000 points in the KSE share index over the last week kept investors on the sidelines most of the time as no one was inclined to make fresh commitments, they said.

The open interest in September future contracts stood at Rs7.2 billion owing to active investor participation as compared to Rs6 billion in the August settlements.

Owing to falling investor interest in the futures market in the backdrop of ban on short selling and rollover week, future spreads stood higher at 14.05 per cent, they added.