KARACHI, Oct 23: Carryover rates on the Karachi Stock Exchange last week swelled to a recent peak level of 14.1 per cent from the previous week's 8.8 per cent , showing a big rise of 530 basis points owing to a sympathetic increase in major issues under the lead of OGDCL.

The rate, which has almost been stable in a single digit for the previous couple of weeks, showed a snap rally because of a couple of contributory positive factors, notably a reported liquidity crunch on the inter-bank and rise in money Market rates, analysts said.

Another aiding factor was said to be the heavy trading in the futures market, which caused the outflow of huge money to finance positions leveraged through stock futures, they added.

The weighted average carryover rate on the Lahore Stock Exchange was 15.3 per cent compared with previous week's 11.9 per cent, showing a new rise of 340 basis points.

Both investment and volume on the carryover market also rose by Rs25.5bn from the previous Rs22bn and the volume figure at 444m shares, showing an increase of 10m shares over the previous week's figure.