SCRA records net purchase of Rs1.8 bln as foreign investors regain confidence in local equity markets

October 24, 2019 (MLN): Foreign investors finally regained some confidence in the local capital markets during the week ended October 18, 2019, as the total purchase of securities exceeded total sales by Rs. 1.8 billion, whereas last week, the accounts observed a net sale of Rs. 1.43 billion.

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. 8.2 billion, which is around 33.1 percent lower than the figures recorded last week. Similarly, the total purchase of securities stood at Rs. 10.1 billion, which is 7.3 percent lower than the prior week.

Over the week, the overall purchase of securities declined by Rs. 795.43 million while the net sale of securities tumbled by Rs. 4.07 billion.

Apart from this, the inflow of remittance into these accounts stood at Rs. 4.9 billion, while its outflow has been reported at Rs. 3.97 billion.

The closing balance of SCRA was recorded at Rs. 27.91 billion, which marks a decline of Rs. 14.07 million over the week.

Copyright Mettis Link News