KSE sees $4.661 million inflow despite gloomy trade

Despite panic selling by local investors, the offshore participants remained net buyers of shares worth $4.661 million during the outgoing week ended on August 05, 2011. A positive activity by the foreign investors was seen at a time when the Karachi share market was witnessing severe pressures with its benchmark KSE-100 index declining by 6.68 percent or 815.28 points during the week.
According to the National Clearing Company of Pakistan Limited (NCCPL) data, the foreign investors turned net buyers of shares during the first week of August 2011 against a cumulative net outflow of $29.671 million of foreign investors' portfolio investment (FIPI) seen during the preceding month of July 2011.
The offshore investors took fresh positions in some selective stocks on dips during the week, an analyst said. The NCCPL data shows that the foreign investors remained net buyers of shares worth $1,072,331 on Monday, $589,892 on Tuesday, $549,607 on Wednesday, $1,964,669 on Thursday and $484,690 on Friday.