The investment under the continuous funding system (CFS) at the local share market settled at Rs 54.52 billion on Friday (June 29) slightly above Rs 54.43 on the same day a week earlier.
The CFS rates continued their upward move and leaped to a 16-week high of 13.11 percent on Thursday, finally settling at 12.9 percent on June 29 compared with 11.98 percent on June 22. PPL, OGDC, NBP, POL and Lucky Cement contributed 48 percent (Rs 26.5 billion) to the total investment. This was the shorter week for the CFS market as it remained closed on June 27 due to bank holiday on the settlement date.
The open interest in the July counter settled at Rs 9.50 billion on Friday against Rs 6.70 billion on the same day a week earlier. Futures spread settled higher at 8.7 percent over -0.9 percent at the end of the previous week. Average futures volume stood at 98 million shares against 61 million shares a week earlier, showing an increase of 45 percent.
The increase in investment, spreads, and volume can be attributed to the initiation of the July contract. OGDC, NBP, POL, DGKC and PPL remained top five by value and contributed 53 percent to the total open interest. This was the rollover week and out of Rs 11.5 billion outstanding open interest in June contract on previous Friday, Rs 5.4 billion (47 percent) was transferred to July''s future.