August 1, 2019 (MLN): Equity investors residing overseas continue to indulge in purchase of local securities traded on bourse as the State Bank of Pakistan’s weekly estimates on Specially Convertible Rupee Accounts (SCRA) show that foreign net buying continues to grow for the 5th week straight.
According to this report, the gross sale of securities during the week was recorded at Rs.8.8 billion, which is around 17.6 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.10.5 billion, which is 9.7 percent lower than the prior week.
Consequently, the net purchase of securities for the week ended July 26, 2019 clocked in at Rs.1.68 billion, i.e. around Rs.756.99 million higher than last week's numbers.
Over the week, the overall purchase of securities declined by Rs.1.12 billion while the net sale of securities tumbled by Rs.1.88 billion.
Apart from this, the inflow of remittance into these accounts stood at Rs.4.27 billion, while its outflow has been reported at Rs.3.07 billion.
The closing balance of SCRA was recorded at Rs.27.56 billion, which marks a decline of Rs.45.89 million over the week.
Copyright Mettis Link News