SCRA position improves by Rs 1.54 billion

November 14, 2019 (MLN): Foreign Investors seem to have gained a massive degree of confidence in the local equity markets, as the total purchase of securities during the week via Special Convertible Rupee Account (SCRA) outstripped total sale by around Rs. 35.9 million, i.e. around Rs. 35.28 billion higher than last week's numbers.

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. 36.3 billion, which is around 864 percent higher than the figures recorded last week. Similarly, the total purchase of securities stood at Rs. 72.2 billion, which is 1532.3 percent higher than the prior week.

Over the week, the overall purchase of securities rose by Rs. 67.81 billion while the net sale of securities increased by Rs. 32.54 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs. 40.42 billion, while its outflow has been reported at Rs. 3.78 billion.

The closing balance of SCRA was recorded at Rs. 29.2 billion, which marks a rise of Rs. 1.54 billion over the week.

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