Foreign investors revert to excessive selling via SCRA over the week

MG News | June 25, 2020 at 04:31 PM GMT+05:00

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June 25, 2020 (MLN): The net purchase of securities via Specially Convertible Rupee Accounts (SCRA) for the week ended June 19, 2020 clocked in at Rs. 1.72 billion, whereas last week, the accounts observed a net sale of Rs. 1.22 billion.

According to a weekly report released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs. 8.1 billion, which is around 14.2 percent higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs. 9.9 billion, which is 66.8 percent higher than the prior week.

Over the week, the overall purchase of securities rose by Rs. 3.95 billion while the net sale of securities increased by Rs. 1.01 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs. 4.2 billion, while its outflow has been reported at Rs. 2.68 billion.

The closing balance of SCRA was recorded at Rs. 29.71 billion, which marks a decline of Rs. 145.4 million over the week.

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