Net foreign selling continues for fifth straight week

April 08, 2020 (MLN): Taking inspiration from last weeks’ transactions, overseas investors again indulged in sale of securities during the week ended March 27, 2020, as they withdrew a net amount of Rs 43.171 billion from local securities.

However, this amount was lower by Rs.20.24 billion when compared to the net selling by foreign investors during the week ended on March 20, 2020.

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.69.6 billion, which is around 30 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.26.4 billion, which is 26.7 percent lower than the prior week.

Consequently, the net sale of securities for the week ended March 27, 2020 clocked in at Rs.43.17 billion, i.e. around Rs.20.2 billion higher than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.9.6 billion while the net sale of securities tumbled by Rs.29.81 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.1.12 billion, while its outflow has been reported at Rs.48.86 billion.

The closing balance of SCRA was recorded at Rs.34.31 billion, which marks a decline of Rs.4.59 billion over the week.

Copyright Mettis Link News

Posted on: 2020-04-08T10:32:00+05:00

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