3.43 percent decline in CFS funding

Investment under Continuous Funding System (CFS) at the Karachi share market declined by 3.43 percent to Rs 43.86 billion at the end of last week on March 22 from previous week''s Rs 45.42 billion. The CFS rate also declined to 12.4 percent from 12.6 percent.
The top five CFS ranking was dominated mainly by oil stocks but with NBP at the top. The other four scrips were OGDC, PPL, POL and PSO. Analysts said that decline in CFS value signified that investors had begun to square their positions, as the upcoming week would be rollover week.
Open interest in the future contracts remained range-bound between Rs 10 billion and Rs 11 billion and settled at Rs 10.9 billion with ready futures spreads as low as 2.75 percent, showing lack of activity and the nearing of the rollover week.