Equities, T-bills attract $98m in January

The foreign investments in equity and treasury bills (T-bills) surged to $98 million in January, surpassing the peak of $65m in December 2023.

The latest data from the State Bank of Pakistan (SBP) showed that the inflows in equities totalled $67m during January under the Special Convertible Rupee Account (SCRA) which kept the market bullish during the month.

This was the second consecutive month for higher inflows in the stock market. In December 2023, the equity investment alone was $65m while the total inflows during the first half of the current fiscal year were $204.8m. With the inclusion of a $16m inflow in T-bills, the total surged to $222m under SCRA.

In January, the inflows for T-bills also increased to $30.6m indicating that the higher cut-off yield of about 21pc succeeded in attracting foreign investment.