Investment in local equities via SCRA bursts forth

September 20, 2019 (MLN): Overseas investors continued to show unrelenting interest in local equity markets, as the purchase of securities via Special Convertible Rupee Account (SCRA) exceeded the sale of securities yet again, for the twelfth consecutive week.

According to a weekly report on SCRA released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.5.4 billion, which is around 25.2 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.6.6 billion, which is 9.5 percent lower than the prior week.

Consequently, the net purchase of securities for the week ended September 13, 2019 clocked in at Rs.1.18 billion, i.e. around Rs.1.13 billion higher than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.689.71 million while the net sale of securities tumbled by Rs.1.82 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.5.8 billion, while its outflow has been reported at Rs.3.01 billion.

The closing balance of SCRA was recorded at Rs.30.1 billion, which marks a rise of Rs.1.71 billion over the week.

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Posted on: 2019-09-20T12:59:00+05:00