June 17, 2007	Sunday	Jumadi-us-Sani 01, 1428

KARACHI, June 16: The CFS rates on the Karachi Stock Exchange last week showed fractional either-way changes as demand for funds fluctuated in line with the market’s volatility and finally settled around 11.7 pc.

For the last couple of weeks, the CFS rates did not show any major change after having dropped from the peak level of 18 per cent as money supply remained fairly comfortable, analysts said.

But slight increase at 11.7pc from the previous week’s 11.6pc reflects that the current status quo may not be maintained in the next week, they added.

The CFS investment on the other hand showed a modest rise at Rs54.43bn as compared to previous week’s Rs54.36bn. A well over 50pc of the total investment was again shared by Pakistan Petroleum, OGDC, National Bank and D.G. Khan Cement.

But on the other hand a steady increase was witnessed in the open interest on the forward counter in June settlements, rising to Rs11.68bn from the last week’s Rs11.15bn.

Future spreads showed sharp increase, which settled around 4.9pc as compared to previous 1.4pc after at one stage having touched the week’s peak level of 5.04pc owing partly to political uncertainty, analysts said.