February 25, 2007	Sunday	Safar 7, 1428

KARACHI, Feb 24: The CFS rates on the Karachi Stock Exchange last week suffered a fall of 114 basis points at 12.65 per cent as compared to previous 13.79 per cent as fresh demand for funds remained on the lower side owing to higher leveraged positions of some leading brokers on the forward counter.

But on the other hand investment in the CFS counter posted an increase of Rs2.1 billion at Rs51.6 billion as compared with previous week’s Rs49.5bn, analysts at JS Global Capital said.

However, despite higher investment in some of the leading shares, the market did not witness any panic selling on the forward counter as was speculated by some other analysts and the ready market finished the weekend session on a firm note.

But on the other hand a big amount on the open interest counter remained unsettled for a number of reasons at the end of the rollover week as out of Rs10 billion, Rs6.8 billion has to be carried to new ruling March contract from the rung off February settlement.

Ready and future contract spreads suffered a modest fall of 98 basis point at 0.15 per cent as against previous 1.13 per cent.