Foreign investors via SCRA remain net buyers for 5th consecutive week

December 22, 2023 (MLN): Foreign investors remained net buyers for the fifth consecutive week as the net purchase of securities for the week ended December 15, 2023 clocked in at Rs2.32bn, as compared to a net purchase worth Rs3.45bn recorded last week.

According to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, during the week, the gross sale of securities was recorded at Rs10.88bn, which is around 9.33% lower than the figures recorded last week.

Similarly, the total purchase of securities stood at Rs13.2bn, which is 14.56% lower than the prior week, resulting in a net purchase of Rs2.32bn for the week.

Over the week, the overall purchase of securities decreased by Rs2.25bn while the net sale of securities decreased by Rs1.12bn.

Apart from this, the inflow of remittance into these accounts stood at Rs5.16bn, while its outflow has been reported at Rs3.68bn.

The closing balance of SCRA was recorded at Rs24.99bn, which marks a decline of Rs733.02m over the week.

Overseas investors' confidence remains uplifted amid hopes of improved economic conditions following the expected inflows from IMF and friendly countries,

relatively stable currency amid government-backed administrative efforts, and a possible slash in the interest rates.

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