The weighted average Carryover Charges (CoCs) at the Karachi Stock Exchange were sharply down to 11.35 percent from 15.71 percent reported last Friday, posting a decline of 436 basis points.
In line with KSE, the CoCs at Lahore Stock Exchange also witnessed a similar pattern and declined by 444 basis points to 10.05 percent from 14.49 percent recorded a week earlier.
Meanwhile, rising trend in the regular market where the market witnessed a record-breaking weekend with the KSE 100 Index not only tested the physiological level of 4,800 but also managed to close above 4,841 levels. In line with this, the carryover values and carryover transactions also marched towards its peaked levels.
On Friday the total CoTs stood at 14-week high level nearly at 414 million shares against 401.06 million shares reported on Friday last week, a report of Arif Habib Securities said.
The total carryover business also crossed Rs 21 billion barriers and swelled to its 18-week high level at Rs 21.32 billion from Rs 21.03 billion reported last Friday.
The effective weighted average CoCs on annualised basis over the weekend stood at 11.35 percent. During the current week average CoCs remained on lower side at 12.38 percent as compared to a week earlier average 16.07 percent.
The carryover charges in some first tier scrips even declined to single digit such as PSO at 7.75 percent, Hubco 7.24 percent, NBP 9.46 percent, ENGRO 7.58 percent and MCB 9.72 percent.
On the other hand, scrip that witnessed higher CoCs includes Japan Power at 18.25 percent, KESC at 17.51 percent, TRG at 17.93 percent and Fauji Bin Qasim at 17.00 percent.
The total carryover transactions during this week witnessed a rising trend where average CoTs for the current week remained at 397.19 million shares, against 386.81 million shares reported during the last week.
However on DoD basis, CoTs on Friday recorded a marginal increase of 1.62 million shares to 413.96 million shares from 412.34 million shares reported a session earlier.
In absolute terms among the heavily traded scrips substantial increase was witnessed in cement giant DGKC.
The carryover shares of DGKC increased by 5.01 million shares to 33.04 million shares from 28.03 million shares reported a session earlier.
Other scrips that followed the same trend included SEMF, SNGP, NBP and PSO that increase by 2.56 million, 1.97 million, 1.50 million, and 1.12 million shares respectively.
In line with CoTs, total business at the carryover market also recorded upward trend and average CoVs for the current week stood at Rs 20.40 billion. Whereas on DoD basis total CoVs recorded an increase of Rs 601 million to Rs 21.32 billion from Rs 20.03 billion reported a session earlier. Among the actively traded scrips the business in PSO witnessed the highest increase in absolute terms. The total investment in PSO increase by Rs 351 million to Rs 3.65 billion to Rs 3.29 billion reported a day earlier.
Other scrips that followed the same trend included DGKC that inched up by Rs 256 million to Rs 1.64 billion, SEMF by Rs 130 million to Rs 523 million, SNGP by Rs 118 million to Rs 413 million Rs 54.71 million and NBP by Rs 97 million to Rs 1.27 billion.