A huge inflow of $19.146 million (Rs 1.55 billion) of foreign portfolio investment at the local equity market was recorded during the outgoing week ended August 7, 2009. This was the highest weekly net inflow witnessed by the market in last 15 months.
According to National Clearing Company of Pakistan Limited (NCCPL) data, the offshore investors bought shares worth $25.2 million and sold shares worth $6.6 million during the week. The week started on a positive note with a net inflow of $2,683,968 on Monday. This trend continued, as the offshore investors remained net buyers of share worth $6,966,683 on Tuesday.
As many as $3,739,682 came in the local equity market on Wednesday. A healthy inflow of $5,227,415 of this mode of investment was recorded on Thursday. The market witnessed a net inflow of $528,485 on Friday. After witnessing a huge outflow since 2008, the foreign investors remained net buyers of share during the last two consecutive months and a net inflow of $12.010 million (Rs 972.886 million) was recorded in July 2009.
Analysts believed that the foreign investors interest at the local market is reviving and they are coming back to invest here. They were expecting that more foreign portfolio investment would come in the local equity market as the Pakistan equity market is still cheaper as compared to other regional markets, analysts added.