KARACHI, Aug 9: The combined CFS and MK-II investment on the Karachi Stock Exchange suffered a sharp fall of 10 per cent at Rs24.2 billion last week as investors did not opt for fresh credit lines owing to an uncertain future share business outlook.

An analyst at a leading research house, Muniba Saeed, said much of the amount (six per cent) was contributed by the CFS, while CFS MK-II share in the total was only Rs1.4 billion, showing a fall of 74 per cent against last week’s comparable figure.

The top five companies, which took the lion’s share of the total leveraged amount, were led by Arif Habib Securities, followed by National Bank, JS & Co, Pakistan Oilfields and D G Khan Cement, she added.

But on the other hand, CFS showed a divergent trend. While CFS rates showed a fractional rise at 15.28 per cent, MK-II fell by 64 basis points at 13.89 per cent, reflecting slack demand from the leveraged sector.

She said the news from the future counter was also not that encouraging and reflected investor worries about the political uncertainty.

The open interest on the forward counter posted a decline of 16 per cent at Rs5.17 billion on weekly basis, while future spreads in the August settlements suffered a massive fall of 1,136 basis points at only 0.03 per cent because of falling investor interest.