20 basis points decline in CFS rate

Investment under Continuous Funding System (CFS) at Karachi share market increased slightly by Rs 0.14 billion, or 0.27 percent to Rs 54.53 billion, on week-on-week basis. However, the CFS rate declined by 20 bps on weekly basis to close at 11.90 percent as compared to 12.10 percent registered during previous week.
The top 5 scrips, by CFS investment, were NBP, POL, PPL, AHSL and OGDC, Saad Arshad, an analyst at Invest Capital & Securities, said.
Open interest at the futures counter for April closed at Rs 16.35 billion--a week-on-week increase of 27 percent. Futures spread remained positive, closing at 9.27 percent (222bps on WoW basis). The top 5 companies in open futures were JSCL, MCB, ENGRO, BoP and AKBL, which accounted for 38 percent of total outstanding open interest.