Foreign investors withdraw over $41 million from PSX

Despite prevailing strong positive trend and increasing volumes at the Pakistan Stock Exchange, the foreign investors opted to off-load their holdings on available margins. The foreign investors withdrew $41.3 million from the Pakistan stock market during the month of September 2016 as compared to $20.4 million withdrew in August 2016.
According to the data of National Clearing Company of Pakistan Limited, the foreign investors have withdrawn $8.6 million during the outgoing week in which Banks and Oil and Gas Exploration sectors witnessed net selling of $4.2 million and $2.9 million respectively whereas net buying of $2.6 million was seen in cement sector. During the week, bullish trend was witnessed on the Pakistan Stock Exchange as the benchmark KSE-100 index closed at all time high level of 40,541.81 with a net gain of 760 points on week-on-week basis.