Futures open interest decreases by 16.5 percent

The open interest at the futures counter increased by 16.5 percent or Rs 57 million on week-on-week basis to Rs 406 million. The futures spread surged by 59bps to 12.59 percent depicting uncertainty regarding the future movement of the index, analysts said. Trading activity at the futures counter decreased by 7.4 percent on weekly basis with an average daily volume of 1.8 million shares.
The top 5 scrips at the counter were POL, OGDC, Engro, PSO and MCB cumulatively contributing 95 percent to the total open interest during the outgoing week.