Slight drop in CFS investment

Investment under Continuous Funding System (CFS) at Karachi share market fell by Rs 0.22 billion (-0.41 percent) on week-on-week basis to Rs 54.39 billion. However, the CFS rate increased by 92 bps to close at 12.10 percent.
The top 5 scrips by CFS investment were NBP, POL, PPL, AHSL and OGDC representing 47 percent of the total CFS investment, Saad Arshad Raja, an analyst at Invest Capital & Securities, said. The April open interest at the futures counter closed at Rs 12.88 billion, a decrease of 17 percent.
Futures spread remained positive during the week to close at 7.05 percent (14 bps on weekly basis). The top 5 companies in open futures were JSCL, BoP, MCB, AKBL and Engro, which accounted for 37 percent of the total outstanding open interest.