June 03, 2007	Sunday	Jamadi-ul-Awwal 17, 1428

KARACHI, June 2: The investment under the CFS on the Karachi Stock Exchange last week showed a modest fall as demand for funds shrank despite a robust market owing to comfortable liquidity position.

Unlike the previous weeks when the figure remained close to the ceiling of Rs55 billion, it fell to Rs54.50bn as compared to Rs54.59 billion a week earlier.

“The top five scrips, which took a lion’s share of about 51 per cent of the total CFS investment, were D.G. Khan Cement, National Bank, OGDC, Pakistan Oilfields and Pakistan Petroleum,” analyst Muhammad Ali at a leading research house said. As a result, CFS rates were held below the 12 per cent mark as there was more money than the demand from the borrowers. The net fall over the week was calculated at 27 basis points at 11.65 per cent.

But on the other hand open interest on the futures counter on the weekend showed a sharp increase of 35 per cent at Rs9.3 billion as compared to Rs6.9 billion a week earlier, he added.