Jan 1 to Dec 22, 2023: FIPI net buying soars $52.16m to $75.398m YoY

KARACHI: The bullish trend at Pakistan equity market with increasing benchmark index recording highest levels has also attracted foreign portfolio investment during the current calendar year.

The net buying of foreign investors portfolio investment (FIPI) rose to $75.398 million during the current calendar year from January 1, 2023 to December 22, 2023 as compared to net inflows of $23.238 million during the corresponding period of last year.

Nov 2023: FIPI hits 6-year high

According to current data of National Clearing Company of Pakistan Limited (NCCPL), the foreign investors invested $28.605 million only in December 2023 against net outflow of $17.953 million in the same period last year. The local equity market saw inflows of $34.499 million in November 2023.

The foreign investors’ interest was seen in various sectors, mainly cement, power, fertilizer and commercial banks.

Copyright Business Recorder, 2023