December 19, 2019 (MLN): Foreign Investors continued to be the net buyers for the ninth consecutive week, indicating that their confidence on the local market has increased as the total purchase of securities during the week via Special Convertible Rupee Account (SCRA) outstripped total sale by around Rs. 5.7 million as on December 13, 2019.
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.15.6 billion, which is around 62.3 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs.21.3 billion, which is 54.5 percent lower than the prior week.
Consequently, the net purchase of securities for the week ended December 13, 2019 clocked in at Rs.5.71 billion, i.e. around Rs.197.72 million higher than last week's numbers.
Foreing Investors parked most of their money in T-bills and PIBs, as the particiaption of investment in T-Bills and PIBs witnessed an increae of Rs 5.34 billion and Rs 1.14 billion respectively.
Over the week, the overall purchase of securities declined by Rs.25.49 billion while the net sale of securities tumbled by Rs.25.69 billion
Apart from this, the inflow of remittance into these accounts stood at Rs.9.81 billion, while its outflow has been reported at Rs.5.38 billion.
The closing balance of SCRA was recorded at Rs.29.13 billion, which marks a decline of Rs.1.07 billion over the week.
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