Foreign investors maintain their selling spree via SCRA, for another week

November 30, 2018 (MLN): Foreign market participants indulged in excessive selling during the week ended November 23, 2018, as net sale of securities via Specially Convertible Rupee Accounts (SCRA) clocked in at Rs.2.2 billion, versus Rs.1.8 billion recorded a week earlier, marking a 22% increment.

According to official data released by the State Bank of Pakistan (SBP), total sale of securities through the week has been recorded at Rs.11.9 billion, whereas total purchase of securities via SCRA stands at Rs.9.7 billion. Sale of securities has taken a leap of over 87% over the week while purchase of securities doubled.

Total flow of remittance into these SCRA has been recorded at Rs.2.5 billion, marking an increase of 1.6 billion. On the other hand, outward remittances have augmented by over Rs.2 billion over the week.

Income from dividends credited into SCRA accounts for Rs.786 million, as compared to Rs.627 million recorded a week earlier.

Meanwhile, the closing position of SCRA accounts is reported at Rs.27.9 billion, down from the Rs.27.8 billion reported a week before.

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