KARACI, Sept 6: The CFS rates on the Karachi Stock Exchange last week swelled to 18.18 per cent, showing an increase of 125 basis points over the previous week, reflecting higher risk perceptions in share trading.

How investors would react to Asif Zardari’s election as President of Pakistan would be known by the next week after the stock market reopens on Monday, analysts said.

Investment under the CFS system also showed an increase of 2.2 per cent at Rs22.5 bullion but many investors were not inclined to take fresh positions on any of the counters, they said.

The five top companies which accounted for 35 per cent of the total borrowing were led by Arif Habib Securities, JS & Co, OGDC, National Bank and Bank Alfalah.

In an identical improved performance of the CFS market, open interest on the future counter also showed an increase of 14.67 per cent at Rs2.90 billion, while future spreads on the other hand closed at 12.58 per cent.