Foreigner investors sell $125m Pakistan stocks

News Image

By Abdur Rahman | October 25, 2024 at 08:44 PM GMT+05:00

0:00

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.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,597.36
42.34M
0.77%
1020.37
ALLSHR 83,539.91
177.20M
0.67%
556.23
KSE30 40,630.70
9.84M
0.67%
271.91
KMI30 191,693.52
10.90M
0.51%
966.20
KMIALLSHR 56,023.86
85.32M
0.58%
325.38
BKTi 36,880.04
5.17M
1.76%
637.98
OGTi 28,230.65
1.28M
-0.33%
-92.76
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 111,590.00 112,170.00
111,420.00
-655.00
-0.58%
BRENT CRUDE 70.33 70.34
69.91
0.14
0.20%
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 68.47 68.48
68.04
0.09
0.13%
SUGAR #11 WORLD 16.54 16.61
16.08
0.41
2.54%

Chart of the Day


Latest News
July 10, 2025 at 10:18 AM GMT+05:00

Pakistan to launch digital currency pilot


July 10, 2025 at 09:52 AM GMT+05:00

SBP raises Rs208bn through floating rate PIBs


July 10, 2025 at 09:26 AM GMT+05:00

NBP issues foreign exchange rates



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg