Foreign Corporates net buying today was over $5.4 million. This is at a higher level than the avarege. The KSE100 Index rose by 620 points and closed near the 71k level.
The bullish tone was set yesterday by foreign investors when they made a record net buying of $22 million in one day and forced the market to recoup its earlier intra-day losses.
In ‘local investors’, the biggest net sellers were ‘companies’ with over $3.3 million net selling followed by ‘Individuals’ with a net selling of around $1.3 million.
Foreign Corporates have made a net buying of over $ 50.7 million year to date. And this period 'overseas Pakistanis' have been a net seller of almost $5 million.
Foreign investors were heavy seller in the market in the January this year. It was probable just Fund that took the opportunity of quick capital gain in a short time as PSX started the bullish trend after IMF deal rose quickly.
