Foreign investors continue to sell off securities via SCRA

May 30, 2019 (MLN): During the outgoing week, foreign investors in local equity market continued to sell off securities due to economic instability which has been gripping Pakistan for a few weeks now.

According to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.6 billion, which is only 2 percent lower than the figures recorded last week. Meanwhile, the total purchase of securities stood at Rs.5.9 billion, which is 2.9 percent higher than the prior week.

Consequently, the net sale of securities for the week ended May 24, 2019 clocked in at Rs.14.15 million, i.e. around Rs.292.72 million higher than last week's numbers.

Over the week, the overall purchase of securities rose by Rs.168.88 million whereas the net sale of securities tumbled by Rs.123.83 million.

Apart from this, the inflow of remittance into these accounts stood at Rs.3.05 billion, while its outflow has been reported at Rs.2.99 billion.

The closing balance of SCRA was recorded at Rs.28.44 billion, which marks a rise of Rs.660.94 million over the week.

Copyright Mettis Link News