KARACHI, Sept 30: Total investment under the CFS on the Karachi Stock Exchange last week showed a modest fall at Rs23.6 billion, below the upper limit of Rs24.5 billion.

Analysts at a leading brokerage and research house attributed the fall partly to lesser demand for liquid funds and partly to extension of in-house financing up to Nov 30.

The phasing out of the enhanced CFS facility of Rs55 billion, in four stages, also ensured more funds under it till the upper limit is attained, they said.

The average CFS rates also remained dormant around 13.7 per cent, as a section of investors was of the view that the rate could fall further as more funds would be available under the phased-out upper limit of Rs55 billion.

Open interest in October futures contracts showed a significant rise despite being the maiden week, as it has increased to Rs6.4 billion from the Rs1.09 billion, they added.