Individual selling brings the index on its knees

According to Monday’s NCCPL Data, Individuals offloaded more than 4.3 million yesterday after index dropped to fresh new lows. In addition to that, Insurance Companies were also reluctant to hold their position, divesting 2.4 million as a result.

Foreign Corporates were net positive on Monday as stock markets continues to remain undervalued. Index PE is currently at 9.82 and continues to decrease as index loses more and more points amid political uncertainty. Foreign Corporates’ net position on Monday clocked in at 1.3 million, with major chunk coming in OMCs, O&G Exploration, and Cement sector.

Banks/DFIs, Companies, Mutual Funds and NBFC were the other net positive investors at yesterday’s close. Banks/DFIs increased their exposure in the Cement sector by 1 million, whereas, Mutual Funds’ investments in Commercial Banks took a surge by 1.72 million.

Overseas Pakistanis, Foreign Individual, Brokers Proprietary Trading, Individuals, Insurance Companies and other organizations divested their investments by a cumulative amount of 8.6 million.

Whereas, net positive investors which include Foreign Corporates, Banks/DFIs, Companies, Mutual Funds and NBFC cumulatively increased their exposure by 8.178 million on Monday.