Foreign investors indulge in excessive buying via SCRA

MG News | January 24, 2020 at 11:38 AM GMT+05:00

0:00

January 24, 2020 (MLN): The Foreign investors indulged in excessive buying during the week ended January 17, as the total purchase of securities outweighed total sale by nearly Rs. 102.2 billion i.e. around Rs.71.66 billion higher than last week's numbers.

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. 58.8 billion, which is around 117.3 percent higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs. 161.3 billion, which is 178.5 percent higher than the prior week.

Over the week, the overall purchase of securities rose by Rs.103.4 billion while the net sale of securities increased by Rs.31.75 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.107.94 billion, while its outflow has been reported at Rs.2.94 billion.

The closing balance of SCRA was recorded at Rs.32.66 billion, which marks a rise of Rs.3.03 billion over the week.

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