KARACHI, Aug 23: The CFS rates on the Karachi Stock Exchange last week showed a modest rise of 76 basis points at 14.72 per cent owing to prevailing risk factors in the backdrop of law and order situation, said Abdul Shakur analyst at a local research house.

The other contributory factor behind the rate-hike was a modest rise in the six-month KIBOR rates, he added.

However the investment measured by the CFS-MK2 suffered a decline of Rs1.51 billion at Rs23.1 billion as demand for fresh credit lines dwindled because of massive price erosion on the stock market, he said.

Bulk of the amount, 40 per cent, was shared by Arif Habib Securities, National Bank, OGDC, JS & Co and Pakistan Oilfields.

The open interest on the futures counter posted a gain of 17.08 per cent at Rs6.89 billion as some of the leading shares attracted active support at the highly attractive lower prices on late-selling.