KARACHI, Dec 10: Weighted average CFS rates on the Karachi Stock Exchange during the last week fell to 1.4 per cent from the ceiling rate of 18 per cent, showing a decline of 120 basis points, analysts said.

The fall was not backed by some technical factors as the investment remained capped at the previous level of Rs2 billion, some others said.

The open interest in stock futures on the other hand touched a record level of Rs16 billion, considered highest ever for a single month.

But unlike the previous weeks, the future spreads did not show sympathetic increase as the stock market rally was more broad-based rather than depending on some heavy weights, they said. “They remained below the CFS rates.”

The CFS investment on the Lahore Stock Exchange fell to Rs0.6 billion from the previous Rs0.77bn a week earlier, but CFS rates rose to 19.7 per cent from the previous 18.3pc, showing an increase of 136 basis points.