Foreign investors bent towards buying for third week straight, a first in a year

February 15, 2019 (MLN): Foreign investment via Specially Convertible Rupee Accounts (SCRA) has marked the week ended February 8, 2019 as the third consecutive week when overseas investors bent more towards a purchase of securities than sale.

Net foreign buying worth Rs.1.6 billion was recorded this week, via these accounts. The last time SCRA witnessed such a long streak of net purchasing was last year in January 2018.

However, as compared to last week, the net buying has decline by over Rs.400 million.

The total sale of securities during the week stands at Rs.5.7 billion (up by over Rs.350 million from prior week) whereas total purchase of securities decline by over Rs.100 million, logging in at Rs.7.3 billion.

Meanwhile, remittances worth Rs.3 billion flew into SCRA this week whereas outwards remittances were Rs.2 billion.

The closing balance of these accounts at the end of this week is Rs.28.15 billion while last week’s closing balance was Rs.28.63 billion.

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