Highest outflow in 14 months: foreign investors sell shares worth $46.961 million

Pakistan stock market witnessed hefty foreign selling during the outgoing week as the foreign investors sold out shares worth US 46.961 million dollars and withdrew their investment from the local equity market. This is the highest outflow of foreign investors'' portfolio investment from the local equity market in last 14 months.
The foreign investors have continuously remained net sellers of shares at the local equity market due to their concerns over geo-political situation and security issues. However, local banks and individuals remained major buyers, absorbing most of the foreign selling during the outgoing week.
According to National Clearing Company of Pakistan Limited (NCCPL) data, the foreign investors have withdrawn $55.871 million during current month. The NCCPL data showed that the foreigners have withdrawn $92.314 million during current fiscal year and $133.261 million during the period from January 01 to November 19, 2016 from the local equity market. The foreign investors had bought over 30 percent of the total free float, however they have emerged net sellers of shares due to different reasons.