Capital market witnesses $126.524m outflow of FIPI
KARACHI: The offshore investors are continuously withdrawing their investments from the Pakistan Capital Market as an outflow of $126.524 million of foreign investors portfolio investment (FIPI) was seen during the current calendar year.
The current data of National Clearing Company of Pakistan Limited (NCCPL) shows that the foreign investors were net buyers of equities worth $26.945 million during the same period in 2019.
According to the NCCPL data, the foreign investors have withdrawn $72.983 million during the current month from March 01 to March 27, 2020.
Only in the outgoing week, an outflow of over $13.658 million from FIPI was recorded, according to the data.
Pakistan Stock Exchange is under severe pressure due to investors concerns over deadly coronavirus spread, declining oil prices in the international market, plunging profits of various listed companies and low economic growth.
PSX has plunged by 30.99 percent during the current calendar year from January 01, 2020 to March 27, 2020 and the KSE-100 index closed at 28,109.57 points on the last day of the outgoing week.
Out of the total outflows of $126.524 million during current calendar year, the foreign corporate remained on top as they withdrew $120.717 million from the Pakistan Capital market followed by Overseas Pakistanis with $5.709 million and foreign individuals with $98,098.