Foreign investors stand tall against instability, net buying via SCRA continues

May 10, 2019 (MLN): Amid misery, confusion and economic instability which has been gripping Pakistan for a few weeks now, the foreign participants of the local equity markets have surprisingly stood their ground relatively stronger than the domestic participants, as they continue to purchase more securities than they sell.

According to 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.3.9 billion, which is around 52.7 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.4.5 billion, which is 54.4 percent lower than the prior week.

Consequently, the net purchase of securities for the week ended May 03, 2019 clocked in at Rs.575 million, i.e. around Rs.999 million lower than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.5.33 billion while the net sale of securities tumbled by Rs.4.33 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.2.18 billion, while its outflow has been reported at Rs.1.8 billion.

The closing balance of SCRA was recorded at Rs.28.53 billion, which marks a rise of Rs.290 million over the week.

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