After plummeting to $275.4 million on November 26, balances in Special Convertible Rupee Accounts (SCRAs), rose to $298.3 million on November 29, a leap of about $23 million in a time span of just three days.
During the three days ending November 29, the largest amount of fresh money poured in from the top slot holder USA, whose balances rose by $12.9 million to $133.5 million.
The second largest amount of $12.3 million came from the third positioner UK whose balances moved up to $79.3 million. A small positive inflow of $0.8 million was also recorded in the case of Hong Kong whose balances rose to $13.3 million. There was no change in the balances of second positioner Singapore whose stake remained unchanged at $104.6 million on November 29.
No major withdrawal was reported though UAE and Switzerland withdrew small amounts of $0.5 million and $0.4 million, respectively during these days with their cumulative flows during the year to November 29 declining to $1.1 million in the case of former and to minus $28.9 million in the case of latter. Minor to negligible withdrawals also took place in the case of Guernsey and Qatar respectively. Other active players, which included BV Island, Bahamas, Bahrain, Germany, Liberia, Kuwait, Luxembourg, and Saudi Arabia behaved rather indifferently.
The stock market which took a bearish turn on November 27 witnessing a determined bid for profit-taking did not stop there as bears further tightened their grip on the market on November 29. The market capitalisation based KSE-100 and KSE-30 indices recorded fall of 167.59 and 230.75 points to close at 10594.57 and 13270.48 points respectively on November 29. The popular turnover based BRIndex30 followed suit to mark a fall of 198.75 points to close at 11,250 points.
The trend of the two-type of indices showed that not only the shares were facing decline in prices, the investors also remained cautious to buy them even at that low prices.
(Report by [email protected])
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