Foreign investors take out $56.25 million from local market on Tuesday

March 18, 2020 (MLN): Pakistan witnessed another net outflow of $56.25 million by foreigners from the local market via Special Convertible Rupee Account on March 17, 2020.

Most of the selling by foreign investors was witnessed in Government Securities as $47.24 has been withdrawn from T-bills in a single day session. While the outflow from equity markets totaled $10.489 million, causing the total outflow of foreign currency to reach $57.74 million.

Foreign investors seem unwilling to invest in Government securities as according to the data released by the State Bank of Pakistan, the inflow of foreign currency in T-bills amounted to $43 thousands only during the day under review. Whereas, inflows in Equities recorded at $1.43 million, bringing the total inflow of foreign currency to stand at $1.48 million.

Cumulatively, the inflow in T-Bills from July 2019 to date has been recorded at $3.43 billion, while the total outflow has been recorded at $1.454 billion

In the month of March alone, $37.75 has been invested by foreigners so far, out of which, $19.24 million was attributed to Equity, $18.49 was attributed to T-bills and $23 thousand was for PIBs.

On the other hand, the total outflow during the month amounted to $1.24 billion, wherein the equity accounted for $67.2 million and T-bills accounted for $1.14 billion.

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