June 12, 2019 (MLN): Market participants stationed abroad have reverted to purchasing securities at the local stock markets after leaning towards a sell-off for the prior two weeks
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.9.1 billion, which is around 53.3 percent higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.11.1 billion, which is 86.3 percent higher than the prior week.
Consequently, the net purchase of securities for the week ended May 31, 2019 clocked in at Rs.1.94 billion, whereas last week, the accounts observed a net sale of Rs.14.15 million.
Over the week, the overall purchase of securities rose by Rs.5.13 billion while the net sale of securities increased by Rs.3.18 billion.
Apart from this, the inflow of remittance into these accounts stood at Rs.4.45 billion, while its outflow has been reported at Rs.3.92 billion.
The closing balance of SCRA was recorded at Rs.28.21 billion, which marks a decline of Rs.235.45 million over the week.
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