CFS rates falls Karachi Stock Exchange

Posted on April 26, 2009

After having touched the recent high of 30 per cent, the CFS rates on the Karachi Stock Exchange last week posted a fractional fall of 14 basis points at 18 per cent as the demand for the new credit lines remained relatively low, according to analysts at the Invest Cap.

The CFS MK-2 investment also suffered a sharp decline of 24 per cent at Rs520 million, since its discontinuation from April 8, as it has been phased out to three working cycles, they said.

The five major companies, which accounted for 66 per cent of the total, were led by ICI Pakistan, Engro Chemical, MCB, United Bank, National Bank.