August 12, 2007	Sunday	Rajab 27, 1428

KARACHI, Aug 11: The CFS investment on the Karachi Stock Exchange plunged by five per cent during the last week owing to persistent decline on share market followed by active selling.

It finally settled at Rs52bn as compared to Rs54.6 billion a week earlier as demand for funds was terribly low, analyst Ambereen Jiwani said.

The CFS rates also fell in sympathy, she said but the decline was modest at 16 basis points at 11.05 per cent against previous week’s 11.21 per cent.

Out of the total CFS investment about 47 per cent or Rs.24.6 billion was shared by five most liquid shares, including Pakistan Petroleum, OGDC, National Bank, Pakistan Oilfields and PSO.

But on the other hand open interest on the futures counter rose to Rs9.7 billion from the last week’s Rs9 billion, although future spreads fell to three per cent from the previous 4.9 per cent.