October 17, 2019 (MLN): Overseas investors partook in excessive selling of securities via Special Convertible Rupee Account (SCRA) during the week ended October 11, 2019, which resulted in a net sale of securities worth Rs.1.43 billion, as opposed to net purchase of Rs.573.87 million in the last week.
According to a weekly report on SCRA released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.12.3 billion, which is around 105.5 percent higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.10.9 billion, which is 65.8 percent higher than the prior week.
Over the week, the overall purchase of securities rose by Rs.4.32 billion while the net sale of securities increased by Rs.6.31 billion.
Apart from this, the inflow of remittance into these accounts stood at Rs.3.86 billion, while its outflow has been reported at Rs.4.73 billion.
The closing balance of SCRA was recorded at Rs.27.93 billion, which marks a rise of Rs.874.81 million over the week.
Copyright Mettis Link News