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 | 132,576.99 161.03M |
-0.62% -826.20 |
ALLSHR | 82,983.68 903.36M |
-0.25% -204.38 |
KSE30 | 40,358.80 56.86M |
-0.72% -292.66 |
KMI30 | 190,727.32 67.92M |
-0.71% -1356.60 |
KMIALLSHR | 55,698.48 457.08M |
-0.27% -149.22 |
BKTi | 36,242.06 11.15M |
-0.50% -180.82 |
OGTi | 28,323.42 10.71M |
-0.40% -114.19 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 111,530.00 | 112,170.00 111,420.00 |
-715.00 -0.64% |
BRENT CRUDE | 70.16 | 70.22 69.91 |
-0.03 -0.04% |
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 | 68.32 | 68.39 68.04 |
-0.06 -0.09% |
SUGAR #11 WORLD | 16.54 | 16.61 16.08 |
0.41 2.54% |
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