Weekly SCRA observes net purchase of Rs.467 mln

July 04, 2019 (MLN): The State Bank of Pakistan has collectively released the equity investment data by overseas investors for the last three weeks and a quick look over it shows that the investors' sentiments abroad has been similar to that within the country as the weekly position of Specially Convertible Rupee Accounts (SCRA) shows noticeable fluctuations.

The week ended June 14, recorded a net purchase of securities worth Rs.223 million while the following week observed a dramatic net selling worth Rs.2.6 billion which was a result of dull activity where both selling and buying declined but the latter decline carried more weight.

According to the report, the gross sale of securities during the week ended June 28, 2019 was recorded at Rs.7.9 billion, which is only 5.5 percent lower than the figures recorded last week. Meanwhile, the total purchase of securities stood at Rs.8.4 billion, which is 45.3 percent higher than the prior week.

Consequently, the net purchase of securities clocked in at Rs.466.68 million, whereas last week, the accounts observed a net sale of Rs.2.61 billion.

Over the week, the overall purchase of securities rose by Rs.2.62 billion whereas the net sale of securities tumbled by Rs.457.46 million.

Apart from this, the inflow of remittance into these accounts stood at Rs.4.07 billion, while its outflow has been reported at Rs.4.09 billion.

The closing balance of SCRA was recorded at Rs.27.57 billion, which marks a rise of Rs.529.84 million over the week.

Copyright Mettis Link News