The weighted average carryover charges (CoCs) at Karachi Stock Exchange during the week plunged to a 15-week low, where the effective rate on an annualised basis dived to 6.71 percent.
The new low level was last seen on 10 November when CoCs declined to 6.58 percent. Throughout the week the average CoCs remained in the single digit and oscillated in a narrow band.
On the higher side average CoCs recorded a peak when it touched 7.89 percent on 23 February and touched its low at 6.71 percent on 26 February. However, over the weekend the CoCs stood at 7.03 percent.
Meanwhile, the total carryover transactions (CoTs) and Carryover Investment (CoVs) also exhibited slightly downward trend during the week.
The CoTs after touching the level of 430 million shares during the week closed at 420 million shares.
In line with CoTs and CoCs, the CoVs also witnessed a nominal decrease and remained at Rs 20-billion level during the week before closing at Rs 20.28 billion on Friday, said a report of Arif Habib Securities.
In Lahore, the carryover market also recorded the same trend as carryover charges went downward during the week. Nominal reduction was also witnessed in CoTs and CoVs.
The weighted average carryover charges at Lahore over the weekend were down by 340 basis points to 7.74 percent from 11.15 percent reported last Friday.
Meanwhile, the total investment on Friday reduced to Rs 2.31 billion with total CoTs of 63.57 million shares as compared to Rs 2.61 billion with 66.83 million shares reported last Friday.
The Friday's CoCs in Karachi at 7.03 percent are lower against the SBP discount rate at 7.50 percent. Major scrips that still were carried over below the average CoCs of 7.03 percent, include HUBC at 6.85 percent, OGDCL 6.17 percent, PSO 6.13 percent, POL 5.98 percent, PTC 5.95 percent, DGKC 4.80 percent and NBP at 4.91 percent.
The average carryover transaction for the week still hovers above 400 million shares. On Friday the CoTs stood at 420.64 million shares against 430.90 million shares reported last Friday.
In absolute terms among the heavily traded scrips the largest reduction was witnessed in the shares of SNGP.
The carryover shares in SNGP decreased by almost 1.69 million shares from 7.29 million shares reported a session earlier.
Other scrips that followed the same trend included PTC and DGKC that decrease by 1.46 million and 0.63 million shares respectively.
On the other hand, the scrip that reported highest increase was HUBCO that increases to 4.14 million shares to 40.24 million shares.
In line with CoTs, the total investment in the carryover market during the week also followed the same trend.
The average CoVs for the current week remained at Rs 20.12 billion against Rs 21.48 billion reported last week.
Among the actively traded scrips the business in SNGP witnessed the highest decrease in absolute terms.
The total investment in SNGP decreases by Rs 90.81 million to Rs 303.67 million. Other scrips that followed the same trend included PTC that decrease by Rs 57.64 million to Rs 2.38 billion and PSO by Rs 40.48 million to Rs 3.60 billion.
On the other hand, Hubco showed tremendous increase of Rs 148.67 million to Rs 1.52 billion.
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