Stocks Observer. com

Foreign players made a net investment of $45.285 million at the Karachi Stock exchange in just two sessions (Monday and Tuesday), according to the National Clearing Company of Pakistan Ltd. Only on Tuesday, offshore investors invested $21.3 million (gross buy of $24.9 million and gross sell of $3.6 million). Moreover, total investment made by foreign players on Monday dramatically inched up to $23.99m (gross buy of $26.5m and gross sell of $2.5m). This foreign interest in the local stock market has changed the market’s direction and index is travelling towards sky while benchmark gained over 450 points in last three sessions. Most of the market experts are of the view that the current foreign interest in the equity market is due to the availability of attractive low-priced stocks. Shahid Ali at HMFS expressed that, “it would be unfair to say that Monday’s and Tuesday’s bullish momentum can be attributed to foreign investors who invested around $24 million only on Tuesday. We need to gi...