Foreign investors fuel stock market recovery post-elections

MG News | March 01, 2024 at 03:19 PM GMT+05:00

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March 01, 2024 (MLN): Pakistan stock market has staged a remarkable recovery after a post-election slump, thanks to strong foreign buying.

The benchmark KSE-100 index, which had dropped as much as 4,952 points or 7.7% in the aftermath of the national polls, has now erased all its losses and gained around 800 points since February 08, 2024.

Foreign investors acquired $19.89m worth of equities during this time.

Foreign corporates accounted for $18.46m of the net inflows, with a preference for commercial banks. They allocated the majority of their capital, $4.81m, in the sector, while divesting from the Technology and Communication sector, amounting to $2.36m in sales.

The foreign buying spree in February 2024 amounted to $25.76m. The cumulative net foreign investment in the equity market in the current fiscal year stood at $59.56m.

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