KARACHI, April 17: Total investment on the carryover market on the local bourses swelled to a record high of 31.5 billion last week in sympathy with an all-time high volume of 1.12 billion shares and a hefty rise of four per cent in the KSE 100-share index.

Analysts fear there could be a massive selling in some of the leading shares in the backdrop of a record badla investment during the next week as a section of investors may unload, in part, their long positions to meet their delivery obligations.

"In an identical highly-overbought market position in September last year prices virtually crashed from their peak levels after the badla investment rose to 31.65bn," they said.

The weighted average badla rates also rose as the demand for funds rose in line with a price flare-up on selected counters to 14.2pc from the previous week's 12.8pc. The badla rates at the Lahore Stock Exchange on the other hand rose to 28.7pc from the previous 19.9 per cent and investment rose to Rs4.1bn from the previous week's Rs3.6bn.

Meanwhile, high-ups of the SECP and the local bourses have planned a roadmap to phase out the badla by the end of the current year.