Foreign investors sell shares worth $6 million

KARACHI: Foreign portfolio investors sold net shares worth over $6 million on Tuesday, including an off-market transaction of about $2.7 million, the National Clearing Company of Pakistan Limited (NCCPL) reported on Tuesday.

“This is a nine-week high of foreign outflow in a day,” the NCCPL said, adding that foreigners sold shares of Engro Corporation and MCB Bank in off-market transactions.

Engro closed at Rs96.56 at the Karachi Stock Exchange on Tuesday with one-day maximum increase of five percent or, Rs4.59, with trading volume of 6.30 million shares. While MCB Bank closed at Rs140.70 with a gain of 2.5 percent, or Rs3.44, on trade in 2.41 million shares.

Meanwhile, the local individual investors, banks/ development financial institutions and mutual funds were the three leading buyers segments of shares sold by the foreign investors. Individuals bought net shares worth $3.15 million, banks bought over $2 million worth of shares while mutual fund managers bought net shares worth $979,629, the NCCPL added.

Leave a Reply