SCRA observes net purchase for the third consecutive week

July 19, 2019 (MLN): Foreign investors of the local bourse have been inclined towards buying securities for the three weeks that ended last week on July 12, 2019, which is not entirely understandable given that the local traders on the other hand were indulging in sell-offs for most of the period.

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.3.8 billion, which is around 24.7 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.4.7 billion, which is 20.8 percent lower than the prior week.

Consequently, the net purchase of securities for the week ended July 12, 2019 clocked in at Rs.911.34 million, i.e. around Rs.12.98 million higher than last week's numbers.

Over the week, the overall purchase of securities declined by Rs.1.25 billion while the net sale of securities tumbled by Rs.1.26 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs.1.79 billion, while its outflow has been reported at Rs.1.85 billion.

The closing balance of SCRA was recorded at Rs.27.23 billion, which marks a decline of Rs.443.85 million over the week.

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