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SCRA observes net selling after three weeks

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May 23, 2019 (MLN): After continuously indulging in purchase of local securities for the last three weeks, the foreign investors have finally begun to mirror the persistently sliding domestic performance at the stock market.

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.6.1 billion, which is only 6.3 percent higher than the figures recorded last week, but the total purchase of securities stood at Rs.5.8 billion, which is 26.4 percent lower than the prior week.

Consequently, the net sale of securities for the week ended May 17, 2019 clocked in at Rs.306.87 million, whereas last week, the accounts abserved a net purchase of Rs.2.12 billion.

Over the week, the overall purchase of securities declined by Rs.2.07 billion whereas the net sale of securities increased by Rs.361.48 million.

Apart from this, the inflow of remittance into these accounts stood at Rs.2.65 billion, while its outflow has been reported at Rs.3.95 billion.

The closing balance of SCRA was recorded at Rs.27.78 billion, which marks a decline of Rs.59.95 million over the week.

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Posted on: 2019-05-23T15:38:00+05:00

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