Foreign net selling inches up by 11.4 percent

December 07, 2018 (MLN): Market participants positioned overseas have limited the sale of securities via Specially Convertible Rupee Accounts (SCRA) during the week ended November 30, 2018, after indulging in excessive selling during the week prior to that.

However on the flip side, demonstrating a cautious behavior, these foreign investors also restricted the purchase of securities during the week, limiting it by a greater magnitude and thereby causing foreign net selling via SCRA to amplify by around 11.4% WoW.

Net sale of securities during the week under assessment has been recorded at Rs.2.5 billion versus a net sale of Rs.2.2 billion recorded the week earlier.

Sale of securities for the week logged in at Rs.11.6 billion, down from Rs.11.9 billion during the previous week. Meanwhile, the purchase of securities stands in at Rs.9.14 billion, down from Rs.9.7 billion recorded for the week before.

On the other hand, inflow of remittances into these accounts have dropped to Rs.1.97 billion whereas outward remittances have logged in at Rs.4.97 billion.

The closing balance of SCRA has been recorded at Rs.28.3 billion.

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