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Overseas investors continue to invest via SCRA, despite Eid holidays

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August 28, 2019 (MLN): Foreign investment in local stock market continued to decline for the second week on August 16, 2019, due to public holidays on account of Eid ul Adha. 

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.726 million, which is around 90.9 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.762.3 million, which is 92.3 percent lower than the prior week.

Consequently, the net purchase of securities for the week ended August 16, 2019 clocked in at Rs.36.3 million, i.e. around Rs.1.88 billion lower than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.9.09 billion while the net sale of securities tumbled by Rs.7.21 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.337.54 million, while its outflow has been reported at Rs.235.28 million.

The closing balance of SCRA was recorded at Rs.27.12 billion, which marks a decline of Rs.851.96 million over the week.

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Posted on: 2019-08-28T16:52:00+05:00

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