July 24, 2019 (MLN): Overseas stock investors marked their fourth week as net buyers of local securities last week as they exhibited overwhelming participation on trading floors, thereby portraying a striking contrast with local participation.
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.10.7 billion, which is around 2.8 times higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.11.6 billion, which is 2.4 times higher than the prior week.
Consequently, the net purchase of securities for the week ended July 19, 2019 clocked in at Rs.927.89 million, i.e. around Rs.16.55 million higher than last week's numbers.
Over the week, the overall purchase of securities rose by Rs.6.86 billion while the net sale of securities increased by Rs.6.84 billion.
Apart from this, the inflow of remittance into these accounts stood at Rs.4.26 billion, while its outflow has been reported at Rs.3.68 billion.
The closing balance of SCRA was recorded at Rs.27.61 billion, which marks a rise of Rs.380.17 million over the week.
