Foreigner investors sell $125m Pakistan stocks

By Abdur Rahman | October 25, 2024 at 08:44 PM GMT+05:00
October 25, 2024 (MLN): Pakistan stocks continued to face selling pressure from foreign investors who dumped stocks for the eighth week in a row, the longest streak since mid-2022.
Foreigners dumped $16.4 million of stocks this week, taking the cumulative selling to $124.5m since September 2024.
The persistent selling is due to FTSE rebalancing, which demoted Pakistan from Secondary Emerging to Frontier Market in July.
In the past eight weeks, they have offloaded $29.9m fertilizer stocks, $28.9m oil and gas exploration stocks, and $19.6m bank stocks.
To note, the benchmark KSE-100 Index surged 5.6% WoW to an all-time high of 89,994. It is up 44.1% so far this year.
This selling pressure has largely been absorbed by Mutual funds. They have bought $102.5m shares on a net basis over the past eight weeks.
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Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 133,256.56 146.46M |
0.51% 679.58 |
ALLSHR | 83,361.93 504.67M |
0.46% 378.25 |
KSE30 | 40,500.68 23.18M |
0.35% 141.88 |
KMI30 | 191,344.43 29.30M |
0.32% 617.11 |
KMIALLSHR | 55,870.10 252.51M |
0.31% 171.63 |
BKTi | 36,618.70 8.57M |
1.04% 376.63 |
OGTi | 28,202.23 2.84M |
-0.43% -121.19 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 111,845.00 | 112,170.00 111,395.00 |
-400.00 -0.36% |
BRENT CRUDE | 70.25 | 70.42 69.91 |
0.06 0.09% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
1.45 1.51% |
ROTTERDAM COAL MONTHLY | 108.00 | 109.00 107.95 |
0.90 0.84% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 68.37 | 68.57 68.04 |
-0.01 -0.01% |
SUGAR #11 WORLD | 16.54 | 16.61 16.08 |
0.41 2.54% |
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