Foreign Investment via SCRA soars post Eid holidays

MG News | August 29, 2019 at 08:15 PM GMT+05:00

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August 29, 2019 (MLN): Overseas investors’ interest in local stocks was revived during the week ended August 23, 2019, as investment via Specially Convertible Rupee Accounts (SCRA) shot up after consecutively declining in the prior two weeks.

According to a weekly report on SCRA released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.11.9 billion, which is Rs11.1 billion higher than the figures recorded last week (Rs.726 million). Similarly, the total purchase of securities stood at Rs.14.8 billion, which is Rs.14 billion higher than the prior week when it was recorded at Rs.762 million.

Consequently, the net purchase of securities for the week clocked in at Rs.2.9 billion, i.e. around Rs.2.87 billion higher than last week'

Apart from this, the inflow of remittance into these accounts stood at Rs.5.96 billion, while its outflow has been reported at Rs.3.29 billion.

The closing balance of SCRA was recorded at Rs.26.97 billion, which marks a decline of Rs.148.78 million over the week.

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