Foreigners dump $99m stocks in six weeks

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