KARACHI, Oct 1: The average weighted rates under the Continuous Funding System (CFS) on the Karachi Stock Exchange last week showed a modest rise to 16.00 per cent from the previous 15.7 per cent after remaining static for the last couple of weeks, analysts said.

However, it was the lowest rate for the week as it went down from 17.9 per cent as a section of leading borrowers kept to the sidelines, they said.

Investment under the CFS remained capped at Rs25 billion as unlike the previous week investors were not inclined to cross the ceiling in a volatile market.

The average share volume over the week showed a decline of 3.1 per cent at 224.03 million shares, which speaks of the capped investment, some others said.

On the forward counter, open interest in October futures rose to Rs8.4 billion since Monday, showing an increase of Rs4.3 billion, although Rs5.4 billion will not be carried over as September settlements were rung off the board after their maturity.