KARACHI, July 29: The open interest on the forward market last week was on the lower side of the weekly average totalling Rs6.5 billion owing to the absence of leading players.

But analysts at a leading research house said the chief reason behind the absence of leading investors was ban on short-selling in the ruling August settlements. Spreads in the future contracts were also modest around 10.76 per cent.

CFS financing on the other hand fluctuated between Rs23bn and Rs24.5bn and maintained its upper limit at the fag-end of the last week.

Owing to lower demand for funds by investors to invest in stocks, CFS rates also remained pegged at the previous level of 14.4pc, analysts said.

The next week trading could be normal as dealers would re-fix their investment priorities after evaluating the new monetary policy announced by the central bank here on Saturday, they added.