Total investment under Continuous Funding System (CFS) at the local share market increased by 6.79 percent to Rs49.68 billion during the outgoing week ended on April 13, 2007 as compared to Rs46.52 billion during the previous week.
The CFS rates continued to dip during the week as well and average CFS rate was recorded 11.74 percent on the last trading session of the week as compared to 11.8 percent on the same day a week earlier, signifying ample liquidity in the market.
Analysts say that most of the fixed income funds are putting their money in CFS market, resulting in excess supply of funds. At the same time, KIBOR also continued its downward trend this week, weighing the CFS rate down.
Total open interest in the April counter increased to Rs9.8 billion on Friday (April 13) as compared to Rs8.7 billion on last Friday (April 6). Spreads declined to 4.86 percent at the end of the week compared to 8.16 percent on the same day a week earlier. Future volume increased by 32 percent and averaged around 63 million shares against 48 million shares recorded previous week. The top-five scrips, in terms of open interest, were OGDC, NBP, POL, PPL and PSO which contributed 62 percent to the total open interest.
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