KARACHI, Feb 18: Investment under the CFS on the Karachi Stock Exchange last week rose well over the ceiling of Rs25 billion, showing an increase of 17.18 per cent over the previous figure.

According to analysts, the chief reason behind the increase was that a number of investors shifted their positions to current favourites but overvalued shares, notably Pakistan Oilfields and some others.

But on the other hand, lending rates under the CFS fell owing to excess liquidity on the money market, including available of funds from other lending sectors, they added.

The CFS rate on the Lahore Stock Exchange was higher at 19.1 per cent, up 233 basis points from the last week, the analysts said.

Open interest in February future contracts rise by Rs1.2 billion to Rs18.78 billion, while spreads have increased to 12.38 per cent from 11.6 per cent the previous the week.