Investment in local equity markets via SCRA stumbles drastically

October 10, 2019 (MLN): Overseas investors pulled back a large chunk of their investments from local capital markets during the departed week, as the net purchase of securities via Special Convertible Rupee Accounts (SCRA) for the week ended October 04, 2019 clocked in at Rs. 573.87 million, i.e. around Rs. 14.83 billion lower than last week's numbers.

According to a weekly report SCRA released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs. 6 billion, which is around 75.8 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs. 6.6 billion, which is 83.6 percent lower than the prior week.

Over the week, the overall purchase of securities declined by Rs. 33.53 billion while the net sale of securities tumbled by Rs. 18.71 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs. 3.34 billion, while its outflow has been reported at Rs. 4.05 billion.

The closing balance of SCRA was recorded at Rs. 27.05 billion, which marks a decline of Rs. 537.2 million over the week.

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Posted on: 2019-10-10T16:58:00+05:00