Investment by overseas investors via SCRA declines massively

November 08, 2019 (MLN): Contrary to last week’s performance, the investment by foreign investors in local equity markets saw a massive decline, as the net purchase of securities for the week ended November 01, 2019 clocked in at Rs.659.75 million, i.e. around Rs.14.25 billion lower than last week's numbers.

According to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.3.8 billion, which is around 65.4 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.4.4 billion, which is 82.9 percent lower than the prior week.

Over the week, the overall purchase of securities declined by Rs.21.38 billion while the net sale of securities tumbled by Rs.7.13 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.1.71 billion, while its outflow has been reported at Rs.2.32 billion.

The closing balance of SCRA was recorded at Rs.27.66 billion, which marks a decline of Rs.356.96 million over the week.

Copyright Mettis Link News

Posted on: 2019-11-08T11:25:00+05:00

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