September 03, 2006	Sunday	Sha'aban 9, 1427

KARACHI, Sept 2: The share financing under the CFS on the Karachi Stock Exchange last week showed a sharp increase as a section of investors covered positions on selected counters in a rising market.

The average weekly figures touched the high mark of Rs23.6 billion from the Rs18 billion the previous week, said Samiullah Tariq, a leading analyst at a research house.

The increase in the CFS financing in part was also attributed to SECP decision to cap it Rs40 billion from the current Rs25 to give the needed push to stock trading in the coming weeks, he added.

But on the other hand the interest on the forward counter remained relatively slow despite a higher stock market and as a result open interest was modest at Rs7.1 billion, some others said.

Future contract spreads followed them on an identical ground and plunged to 7.8 per cent, lowest figure for the last couple of weeks, they said.