Foreign net selling via SCRA crashes by over 86 percent

January 10, 2019 (MLN): As bulls rallied Pakistan’s capital markets a few sessions ago, pushing up the KSE - 100 index by over 1400 points along the way, they also led to a substantial decline in the net sale of securities via Specially Convertible Rupee Accounts (SCRA).

State bank of Pakistan’s formal report on these accounts shows that the overseas investors cumulatively bought securities worth Rs.1.55 billion (down from Rs.4.8 billion bought last week) this week, whereas total sale of securities stands at Rs.1.67 billion (down from Rs.5.76 billion).

While both the figures declined incredibly, the net sale of securities for the week logs in at Rs.121 million, down by 87.6%, WoW.

However, remittances flowing into SCRA crashed down to Rs.536 million from a sum of Rs.1.5 billion, but fortunately, outward remittance dropped by a larger magnitude of Rs.2.5 billion, logging in at Rs.837 million.

The Closing Position of SCRA stands at Rs.28.13 billion, up from Rs.27.9 billion recorded for prior week

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