Equity market witnesses $7.5mn foreign investment

KARACHI: The foreign investors’ interest continued as a fresh inflow of dollars 7.5 million of foreign investors portfolio investment was seen at the local equity market during the outgoing week ended March 9.

The off-shore participants’ interest has been witnessed at the local equity market during last many weeks on their expectations over good financial results and improving political and law and order situation in the country, analysts said.

The market had witnessed an inflow of dollars 5.6 million during the previous week.

According to National Clearing Company of Pakistan Limited (NCCPL) data, the cumulative inflow of this mode of investment increased to dollars 11.523 million was witnessed during the current month from March 1 to March 9.

On the back of both local and foreign investors support, the Karachi share market witnessed bullish trend during the outgoing week with gaining 263.77 point on week-on-week basis. The market also witnessed six-year highest trading activity on the last trading session when daily volume increased to 552.793 million shares.