Foreigners dump most stocks in four months last week

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By Abdur Rahman | September 14, 2024 at 06:23 PM GMT+05:00

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September 14, 2024 (MLN): Foreign investors dumped $7.54 million of Pakistani equities last week, their biggest selling on a net basis in almost four months, according to National Clearing Company of Pakistan (NCCPL) data.

The second weekly net selling in a row came despite the benchmark KSE100 Index notching up two consecutive weekly gains in USD terms.

The most substantial sales activity this week was in fertilizer stocks, as foreigners dumped $3.65m worth of equities, followed by commercial banks with net sales of $2.92m, and cement stocks at $1.02m.

Despite the recent heavy selling, foreign investors have been buying Pakistani stocks aggressively this year, with net investment of $88.6m so far this year as the country continues to experience growing confidence amidst improved economic conditions and a stable exchange rate.

Copyright Mettis Link News

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161.03M
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-204.38
KSE30 40,358.80
56.86M
-0.72%
-292.66
KMI30 190,727.32
67.92M
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10.71M
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-114.19
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Name Last High/Low Chg/%Chg
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-0.64%
BRENT CRUDE 70.15 70.22
69.91
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0.00
1.45
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ROTTERDAM COAL MONTHLY 108.00 109.00
107.95
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USD RBD PALM OLEIN 998.50 998.50
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0.00
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CRUDE OIL - WTI 68.32 68.39
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-0.09%
SUGAR #11 WORLD 16.54 16.61
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