Foreigners dump $99m stocks in six weeks

News Image

By Abdur Rahman | October 11, 2024 at 10:52 PM GMT+05:00

0:00

October 11, 2024 (MLN): Pakistan stocks continued to face selling pressure from foreign investors who dumped stocks for the sixth week in a row, the longest streak since mid-2022.

Foreigners dumped $22.6 million of stocks this week, taking the cumulative selling to $98.6m over the past six weeks.

The persistent selling is due to FTSE rebalancing, which demoted Pakistan from Secondary Emerging to Frontier Market in July.

In the past one and a half months, they have offloaded $27.9m fertilizer stocks, $26.5m oil and gas exploration stocks, and $18.5m food and personal care stocks.

To note, the benchmark KSE-100 Index rose 2.3% WoW to notch its second consecutive weekly gain. It is up 36.9% so far this year.

This selling pressure has largely been absorbed by Mutual funds. They have bought $82.8m shares on a net basis over the past six weeks.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,326.14
124.86M
0.57%
749.15
ALLSHR 83,435.81
415.68M
0.54%
452.13
KSE30 40,497.81
19.27M
0.34%
139.02
KMI30 191,326.24
23.95M
0.31%
598.92
KMIALLSHR 55,949.13
205.45M
0.45%
250.65
BKTi 36,626.50
7.86M
1.06%
384.43
OGTi 28,177.30
2.60M
-0.52%
-146.11
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 111,795.00 112,170.00
111,395.00
-450.00
-0.40%
BRENT CRUDE 70.35 70.42
69.91
0.16
0.23%
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 68.51 68.57
68.04
0.13
0.19%
SUGAR #11 WORLD 16.54 16.61
16.08
0.41
2.54%

Chart of the Day


Latest News
July 10, 2025 at 11:09 AM GMT+05:00

Bitcoin soars to record above $112k, bulls now eye $150k


July 10, 2025 at 11:09 AM GMT+05:00

Pakistan invites Turkish firms to expand investment


July 10, 2025 at 11:09 AM GMT+05:00

Dollar slips, real plunges as Trump tariffs rattle Brazil


July 10, 2025 at 10:29 AM GMT+05:00

Trump plans steep 50% Tariff on Brazilian imports



Top 5 things to watch in this week

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