Net foreign selling declines by 20pc

KARACHI: Foreign investors were seen to be net sellers in the capital markets for the week ending August 17, 2018, but with an over 20 per cent reduction in net selling over the week ending August 10, 2018, according to data on Special Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan (SBP) on Monday.

Even though foreign investors continue to be net sellers this week, the net selling witnessed a decline from last week as the net sale of securities has been reported at Rs2.165 billion against a net selling of Rs2.760 billion during the week before, a decrease of about 21.5 per cent.

While net selling may have fallen according to the latest SCRA position, it is significantly higher compared to the figure of Rs670 million for the last week of the previous month ended on July 27, 2018.

Overall sale of securities by foreign investors decreased by 61.6 per cent over the previous week after being recorded at Rs5.802 Billion compared to Rs15.126 billion a week before, while the purchase of securities by foreign investors also decreased by 70.6 per cent after being recorded at Rs3.637 billion compared to Rs12.366 billion in the week before.

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