Inflow of $16.153m FIPI seen in March

RECORDER REPORT

KARACHI: The foreign investors' interest continued as a healthy inflow of $16.153 million of foreign investors' portfolio investment (FIPI) was seen on the local equity market in the current month so far.

It was the second consecutive month of continuous foreign investors' interest as the offshore participants were net buyers of shares worth $8.172 million during February 2012 against an outflow of $447,688 during January 2012.

According to the National Clearing Company of Pakistan Limited (NCCPL) data the cumulative inflow of this mode of investment has increased to $23.877 million during the current year from January 01 toMarch 22, 2012. The market had witnessed massive outflow of $122.931 million during the year 2011.

"Increasing trading activities at the local bourse invited foreign buying in some selective stocks mainly in E&P, Cement, Fertilizer and Banking sectors", analysts said.