Foreign investors redeem themselves as SCRA witnesses excess buying

MG News | March 21, 2019 at 05:25 PM GMT+05:00

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March 21, 2019 (MLN): Overseas investors regained footing in local capital markets during the week ended March 15, 2019, as the central bank’s weekly data on Specially Convertible Rupee Accounts (SCRA) revealed that the net purchase of securities logged in at Rs.1.3 billion.

The total purchase of securities grew by Rs.2.2 billion over the week to stand at Rs.7.9 billion (up from Rs.5.7 billion), whereas total sale of securities increased by over Rs.350 million since the State Bank of Pakistan recorded it at Rs.6.7 billion (up from Rs.6.3 billion).

In addition to this, the flow of remittances into these accounts grew by Rs.2.8 billion whereas the outflow of remittances diminished by over Rs.150 million.

Consequently, the closing balance of SCRA during the week is standing at Rs.27.97 billion which is around Rs.400 million higher than Rs.27.5 billion recorded prior week.

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