March 23, 2008	Sunday	Rabi-ul-Awwal 14, 1429

KARACHI, March 22: The CFS investment on the Karachi Stock Exchange last week showed and increase of two per cent reflecting investor confidence in the share market’s viability in the coming weeks.

Analyst Saad Arshad Raja at the Invest Capital attributed the boost to fresh investor commitments to some positive developments on the political front leading to smooth transition to full democracy.

The total soared to close to the cap of Rs55 billion at Rs54.6 billion, up by Rs1.12 billion. Bulk of CFS investment was sucked by the most liquid scrips, notably Pakistan Oilfields, Pakistan Petroleum, OGDC and Engro Chemical, he added.

As a result, the CFS rates also showed a fractional increase of 12 basis points at 11.18 per cent after having fluctuated either way modestly.

But on the other hand open interest on the forward counter showed a decline of eight per cent at Rs15.5 billion and so did future spreads at 6.91 per cent, off 653 basis points as compared to the previous week.