Foreign investors revert to excessive selling via SCRA
MG News | March 29, 2019 at 02:37 PM GMT+05:00
March 29, 2019: Overseas investors indulged in excessive selling in local capital markets during the week ended March 22, 2019, as the weekly data on Specially Convertible Rupee Accounts (SCRA) revealed that the net sale of securities logged in at Rs. 366 million.
The total sale of securities grew by around Rs. 1 billion over the week to stand at Rs. 7.6 billion (up from Rs. 6.6 billion), whereas total purchase of securities decreased by over Rs. 629 million to Rs. 7.3 billion (down from Rs. 7.9 billion).
Moreover, the flow of remittances into these accounts fell by around Rs. 2.2 billion whereas the outflow of remittances diminished by over Rs. 142 million.
Consequently, the closing balance of SCRA during the week is standing at Rs. 28.23 billion which is around Rs. 260 million higher than Rs. 27.972 billion recorded in the prior week.
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