Inflow of $28.6mn in Pakistani stocks by foreign investors

Local and foreign investors showed contrasting priorities in investing in Pakistani stock markets as foreign investment funds and institutions preferred buying while local funds and companies favored selling. According to the State Bank of Pakistan (SBP), foreigners collectively invested $9.7 million in Special Convertible Rupee Accounts (SCRA) during last week. Banks and financial institutions also bought shares of worth $15.5 million taking the collective investment to $28.6 million. On the other hand, collectively, outflow of $21.9 million from local companies, mutual funds and individual investors was recorded last week.