Investment under Continuous Funding System (CFS) at Karachi share market stood at five-month low of Rs 50.3 billion on the end of the week, down by 7.9 percent as compared to the last week. The CFS rate also declined and stood at 10.9 percent on the end of the week against 11.1 percent on the same day a week earlier.
The top-5 scrips namely PPL, NBP, OGDC, POL and AHSL contributed 49 percent to the total CFS investment.
The total open interest for the month of November settled at Rs 10.9 billion on November 02, as against last Friday''s closing of Rs 17.1 billion showing massive decline of 36 percent on week-on-week basis. "This decrease can be attributed to cautious investor sentiment existing in the ready market", an analyst at Invest Capital & Securities said.
Futures spreads also suffered a precipitous fall of 750 bps on weekly basis to 1.21 percent on November 2 which could be mostly explained by the roll over week in which investors square their positions. The average trading volumes decreased by 38 percent to settle at 56 million shares against 90 million shares last week. OGDC, POL, FFBL, ACBL and Lucky Cement were the top five stocks, contributing 42 percent to November''s open interest.
Comments
Comments are closed.