The level of total financing stayed stuck at Rs 25 billion throughout last week, although the rate fluctuated and settled around 16.2 percent, slightly lower than previous week, which showed that funds were available easily.
Financing though CFS had reached its Rs 25 billion limit at the end of previous week and stayed there for the whole of last week as well, not deviating much from the ceiling.
The weighted average CFS rate at KSE on Friday, September 9, was slightly lower than that witnessed on previous Friday, September 2. The CFS rate stood at 16.2 percent on Friday compared to 16.5 percent on previous Friday, September 2, showing a decline of 30 basis points.
However, during the week it had gone as high as 17.5 percent on Monday, September 5. As far as the CFS situation at LSE was concerned, the rate once again increased from 17.0 percent on previous Friday to 18.0 percent last Friday. LSE CFS rates went as high as 18.9 percent, which was witnessed on Monday, September 5, the day when KSE-100 index gained 61 points.
CFS investment at LSE stood at Rs 2.3 percent at the weekend, showing an increase of Rs 0.1 billion on weekend-to-weekend basis, up from Rs 2.2 billion on previous weekend.
An analyst from Investcapital Securities said that open interest in KSE stock futures contracts hiked to Rs 8.9 billion on Friday, September 9, as against Rs 7.3 billion seen on previous Friday, September 2.
The drastic rise in open interest was visible on daily basis throughout the week, dipping for once on Thursday (September 8), but increased sharply on last Friday to Rs 8.9 billion.
The weighted average futures spread at KSE declined to 7.8 percent on last Friday, September 9, compared to 10.95 percent on previous Friday (September 2) showing a decline of 317 basis points on weekend-to-weekend basis.
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