RECORDER REVIEW

KARACHI: The futures spread at the Pakistan Stock Exchange (PSX) widened sharply during the week, rising to 17.41 percent from 13.53 percent a week earlier, even as overall activity in the derivatives market slowed. The increase of 389 basis points reflected continued investor interest in leveraged positions amid an earnings-driven rally.

However, both volumes and traded value in the futures counter registered a steep decline. Average daily turnover fell 18 percent to 98.8 million shares compared with 120.6 million shares in the preceding week. In value terms, futures activity slipped nearly 17 percent, settling at Rs9.1 billion from Rs11 billion earlier.

Market watchers noted that while investors appeared selective in taking fresh leveraged exposure, the wider spread suggested confidence in near-term momentum despite softer participation.