Futures open interest up by 5.9 percent

Total open interest position at the futures counter increased by 5.9 percent on week on week basis to Rs 1.385 billion. On the other hand, the futures spreads also surged by 806bps during the week ended on February 25, 2011 to 11 percent.
Trading at the futures counter, however, remained low at 3.82 million shares as average daily volume, a decline by 1.10 percent, on week-on-week basis. Top 5 scrips at the futures counter constituting 65 percent of the total open interest were Engro, NBP, MCB, PSO and NML.