April 15, 2007	Sunday	Rabi-ul-Awwal 26, 1428

KARACHI, April 14: The CFS investment on the Karachi Stock Exchange last week swelled to Rs49.7 billion and actively supported the prevailing bull-run. Owing to sustained run-up on the stock market notably during the last couple of sessions, the demand for fresh funds remained on the higher side, analysts said.

The investment under the CFS during the last couple of weeks dropped to around Rs46bn from the ceiling of Rs55 billion, reflecting the depressed market conditions before the current bull-run, they said.

“But the developing political situation is fraught with high risks,” warned Ambreen Jiwani, a stock analyst, adding “there are more than one negatives, notably SECP presentation on the market crash of 2005 to the national assembly committee, which could take their toll in the coming weeks”.

Total open interest on the forward counter in April contracts rose to Rs9.8bn from the previous week’s Rs8.7bn but on the other hand spreads between the ready and forward counters fell to 4.86pc from the last week’s 8.16pc.