Foreign investors retreat a staggering Rs 63.37 billion via SCRA

March 27, 2020 (MLN): Foreign investors retreated their investments from local equity markets for the week ended March 20, 2020, as the net selling of local securities clocked in at Rs 63.37 billion, i.e. around Rs.90.6 billion lower than last week's numbers.

Overseas investors continued to be net seller for last three weeks due to downtrend of the global economy amid Covid-19 spread.

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.99.4 billion, which is around 60.2 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.36 billion, which is 62.4 percent lower than the prior week.

Consequently, the net sale of securities for the week ended March 20, 2020 clocked in at Rs.63.37 billion, i.e. around Rs.90.61 billion higher than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.59.83 billion while the net sale of securities tumbled by Rs.150.43 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.1.05 billion, while its outflow has been reported at Rs.57.68 billion.

The closing balance of SCRA was recorded at Rs.38.9 billion, which marks a rise of Rs.6.99 billion over the week.

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