Offshore investors withdraw $8.88 million from equity market

The foreign investors remained on the selling side and withdrew $8.88 million from the local equity market during the week ended on December 23, 2011. According to the National Clearing Company of Pakistan Limited (NCCPL) data, the cumulative outflow of foreign investors' portfolio investment (FIPI) stood at $23.695 million during the current month from December 1 to December 23, 2011 against an inflow of $58.042 million in the same period last year.
The data shows that the foreign investors withdrew $122.511 million from the equity market during the current calendar year from January 1 to date against an inflow of $374.739 million witnessed during the year 2010. Analysts say that the euro zone crisis and prevailing global economic situation forced the foreign investors to withdraw their investments from various equity markets. The offshore participants have been net sellers in almost all other regional equity markets during this period, they added.