A healthy inflow of $12.435 million of foreign investors portfolio investment (FIPI) was witnessed at the equity market during the week ended on November 26, 2010. Foreign investors' interest continued in some select stocks, and the market was mainly driven by offshore participants, analysts said.
According to National Clearing Company of Pakistan Limited (NCCPL) data, the cumulative inflow of this mode of investment increased to $36.934 million during November as compared to $31.824 million in last month. The data shows that foreign investors also opted for profit taking as they remained net sellers on Wednesday and Friday. However, on weekly basis, inflow of foreign investment was witnessed at the equity market.
On Monday, a healthy single-day inflow of $7,100,487 was seen as the foreign investors took fresh positions in select stocks mainly in oil and gas sector. This trend continued on Tuesday, as another $3,365,945 came into the country's equity market.
However, on Wednesday the foreign investors opted for profit taking and remained net sellers of shares worth $1,354,853. The foreigners' interest once again revived and they remained net buyers of shares worth $3,732,844 on Thursday. However, mixed activity of foreign investors was seen on Friday, and they remained net sellers of shares worth $409,103.