Surge in Foreign Investments via SCRA Propels PSX to New Heights

In a noteworthy development, foreign investors have achieved the highest net purchase of securities through Specially Convertible Rupee Accounts (SCRA) since February 14, 2020, reaching a substantial Rs18.56 billion for the week concluding on January 19, 2024, as per the State Bank of Pakistan's latest weekly report on SCRA.

This surge in inflow through SCRA comes on the heels of a net sale of Rs137.78 million reported just last week.

Throughout the week, the gross sale of securities soared to Rs12.2 billion, marking a significant increase from the previous week's figure of $3.727 billion.

Likewise, the total purchase of securities experienced a substantial uptick, reaching Rs30.76 billion, surpassing the prior week by $27.17 billion, ultimately resulting in a net purchase of Rs18.56 billion for the week.

Over the course of the week, the overall purchase of securities witnessed a notable rise of Rs27.17 billion, while the net sale of securities increased by Rs8.48 billion.

In addition to this remarkable surge, remittances into these accounts amounted to Rs19.4 billion, with an outflow reported at Rs1.55 billion.

The closing balance of SCRA was noted at Rs24.78 billion, indicating a decrease of Rs470.47 million compared to the previous week.