Foreign investors withdraw $13.139 million

The offshore investors withdrew $13.139 million during the week ended on February 6, 2009. According to National Clearing Company of Pakistan (NCCPL) data, the cumulative outflow of this mode of financing increased to $2.036 billion from January 1, 2008 to date. The net selling post lifting of the price floor has now reached $180 million.
Analysts believe that the selling pressure from offshore investors had declined over the week as foreigners bought shares worth $8 million and sold $21.1 million, resulting in net selling of $13.1 million during the week. Net selling by offshore investors during the week was considerably lower than the previous two weeks total of $87.3 million. The data showed that an outflow of $1,978,046 was witnessed on Monday and $1,960,818 on Tuesday. The foreign investors withdrew another $3,714,883 on Wednesday, and $5,485,475 on Friday.