Stocks Observer. com

Foreign investors have invested $ 59.324 million in the stock market during August 2009, SBP report said here Saturday. According to a daily position of SBP’s Special Convertible Rupee Account (SCRA), the inflow of foreign investment was $ 93.905 till August 28, 2009 while the outflow was $ 34.581 million. Major investment came from USA and UK, followed by Luxembourg and Hong Kong. On August 28, 2009, the net inflow was $ 5.999 million, as inflow was $ 6.987 million while out flow stood at $ 0.988 million. Meanwhile, the Karachi Stock Exchange (KSE) has extended the suspension period of eight companies for another 60 days for not removing the cause of suspension. According to KSE, the action has been taken to protect the interest of trade and public. They are Prudential Investment Bank Ltd, Schon Modaraba, Harum Textile Mills, Southern Networks Ltd, Carvan East Fabrics, Baig Spinning Mills Ltd, Tri Star Shipping Lines and National Fibre Ltd. The KSE management will remove the suspensi