KARACHI, June 23: The average CFS rate on the Karachi Stock Exchange showed a modest rise of 32 basis points last week owing to pressure on liquidity and active early demand for funds, dealers said.

It was quoted at 11.98 per cent as compared to 11.66 per cent a week earlier and it could rise further in upcoming rollover week. They said an amount of Rs11.5 billion would have to be transferred from the June contracts to the newcomer July settlements next week.

But on the other hand the CFS investment did not show much change at Rs54.43bn as investors played safe awaiting the advent of new financing system by the next month.

Open interest on the future market fell by two per cent at Rs11.45 billion as compared to previous week’s Rs11.68, dealers said.