December 12, 2019 (MLN): The confidence of foreign investors in local equity market increased significantly, as Foreign investors continued to be net buyers for the eighth successive week as the total purchase of securities during the week via Special Convertible Rupee Account (SCRA) outstripped total sale by around Rs. 5.6 million as on December 6, 2019 .
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.41.2 billion, which is around 119.7 percent higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.46.8 billion, which is 81.2 percent higher than the prior week.
Consequently, the net purchase of securities for the week ended December 06, 2019 clocked in at Rs.5.52 billion, i.e. around Rs.1.52 billion lower than last week's numbers.
Over the week, the overall purchase of securities rose by Rs.20.95 billion while the net sale of securities increased by Rs.22.47 billion.
Apart from this, the inflow of remittance into these accounts stood at Rs.9.66 billion, while its outflow has been reported at Rs.4.17 billion.
The closing balance of SCRA was recorded at Rs.30.2 billion, which marks a rise of Rs.370.1 million over the week.
