Foreign investors via SCRA remain net buyers for fourth consecutive week

December 15, 2023 (MLN): Foreign investors remained net buyers for the fourth consecutive week as the net purchase of securities for the week ended December 08, 2023 clocked in at Rs3.45bn, as compared to a net purchase worth Rs4.33bn 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 Rs12bn, which is around 37.43% higher than the figures recorded last week.

Similarly, the total purchase of securities stood at Rs15.44bn, which is 18.24% higher than the prior week, resulting in a net purchase of Rs3.45bn for the week.

Over the week, the overall purchase of securities increased by Rs2.38bn while the net sale of securities increased by Rs3.27bn.

Apart from this, the inflow of remittance into these accounts stood at Rs6.27bn, while its outflow has been reported at Rs3.5bn.

The closing balance of SCRA was recorded at Rs25.73bn, which marks a decline of Rs244.6m 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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