KARACHI, April 4, 2024 (MMF): The weekly report on Specially Convertible Rupee Accounts (SCRA), released by the State Bank of Pakistan, highlights a substantial increase in the net purchase of securities for the week ended March 28, 2024.
According to the report, the net purchase of securities for the mentioned week amounted to Rs14.19 billion, compared to Rs8.32 billion recorded in the previous week. This surge reflects a notable uptick in investor activity within the securities market.
During the week, the gross sale of securities reached Rs12.75 billion, marking a significant increase of around 103.16% compared to the figures recorded in the preceding week. Similarly, the total purchase of securities stood at Rs26.95 billion, indicating an increase of 84.57% from the prior week.
Analyzing the data, it’s evident that the overall purchase of securities increased by Rs12.35 billion over the week, while the net sale of securities increased by Rs6.48 billion.
In terms of remittance, the report indicates an inflow of Rs4.26 billion into these accounts, while the outflow has been reported at Rs562.39 million.
The closing balance of SCRA for the week stood at Rs24.36 billion, reflecting a decline of Rs10.37 billion compared to the previous week.
These figures underscore the dynamic nature of investment activities within the securities market, highlighting fluctuations in purchasing patterns and investor sentiment.
The State Bank of Pakistan continues to monitor these trends closely to ensure the stability and efficiency of the financial markets.
