The inflow of portfolio investment in the country''s equity market continued during the outgoing week as the special convertible rupee accounts (SCRAs) balances increased to new high level of 175.666 million dollars on October 19. A net inflow of 18.277 million dollars was witnessed only on the last trading day of the week.
The recent inflow was witnessed mainly from the US, Kuwait, Luxembourg and Singapore. American investors topped the list as 29.941 million dollars came from the US followed by 1.995 million dollars from Kuwait, 1.634 million dollars from Luxembourg and 107,873 dollars from Singapore.
On the other hand, profit taking was witnessed by the investors from the UK, Switzerland and Hong Kong, as they withdrew 14.364 million dollars, 755,911 dollars and 280,796 dollars respectively from the local equity market.
The recent inflow of portfolio investment at the country''s equity market shows the continuous interest of foreign investors, who are keen to invest more here for attractive returns, said Chief Operating Officer (COO) of JOV & Co Ahmed Nabeel.
He was of the view that a huge foreign investment was expected during the current fiscal year. The foreign investors are taking fresh positions mainly in banking, cement, energy and fertiliser sectors due to better expectations of attractive earnings of the relevant stocks.