April 29, 2007	Sunday	Rabi-us-Sani 11, 1428

KARACHI, April 28: The CFS rates on the Karachi Stock Exchange last week showed a fractional fall of 11 basis points at 11.75 per cent despite the fact that investment under it remained on the higher side close to the ceiling limit of Rs55 billion.

A leading analyst Khurram Shehzad says the rates may not rise further during the next week also as liquidity position is expected to remain fairly comfortable.

The CFS investment on the other hand posted a marginal increase at Rs54.6 billion as compared to Rs54.4 billion after having touched the highest level of Rs54.7 billion at one stage, he added. Out of the total investment about 50 per cent or Rs27 billion remained confined to five active scrips, notably Pakistan Petroleum, Pakistan Oilfields, OGDC, National Bank and D.G.Khan Cement.

The open interest in forward May future contracts closed at Rs7.2 billion as compared to Rs9.5 billion a week earlier as the rollover week has a negative impact on the futures.

Spreads between the ready and futures on the other hand rose and were last quoted at 5.18 per cent as against previous week’s 1.21 per cent.