Foreigners dump most stocks in four months last week

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.

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