KARACHI, May 5: The CFS rates on the Karachi Stock Exchange last week showed a fractional rise of 10 basis points at 11.85 per cent as compared to 11.75 per cent a week earlier as liquidity position remained fairly comfortable, analysts said.
There was a relative quiet on the CFS investment counter ahead of Saturday (May 5) meeting between the KSE and the Security and Exchange Commission of Pakistan (SECP) officials to sort out the issue of an increase in the CFS value as requested by the former to meet the growing market needs for fresh funds in a bull market, they said.
As a result, CFS value remained around its cap of Rs55.00 billion at Rs54.7 billion as investors awaited widely speculated increase in the ceiling to Rs65.00 or Rs70.00 billion in Saturday’s top level meeting.
On the future counter, open market interest in the ruling May contracts was higher by 1.8 per cent at Rs8.3 billion but cost of carry in futures was lower at 3.9 per cent, or down by 128 points.
