Foreign net selling via SCRA drops by significant amount of Rs 23.57 billion

May 21, 2020 (MLN): Foreign investors continued to offload from local securities during the week ended May 15, 2020, with net selling to Rs 1.918 billion, which is down by Rs 23.57 billion than the figures recorded last week.

According to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.12.4 billion, which is around 77.9 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.10.5 billion, which is 65.9 percent lower than the prior week.

Consequently, the net sale of securities for the week ended May 15, 2020 clocked in at Rs.1.92 billion, i.e. around Rs.23.58 billion higher than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.20.36 billion while the net sale of securities tumbled by Rs.43.93 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.3.68 billion, while its outflow has been reported at Rs.13.55 billion.

The closing balance of SCRA was recorded at Rs.31.06 billion, which marks a decline of Rs.7.77 billion over the week.

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