A net inflow of RM50.5 million came last Thursday, making it the largest of the week, MIDF Amanah Investment Bank Bhd said in its weekly fund flow report today.

The only day that the foreign funds were net settlers was last Tuesday when RM14 million left the market just prior to the US Federal Open Market Committee meeting.

However, this was easily offset by the net inflows recorded in the other four trading days.

MIDF Research said Bursa began the week with a net inflow of RM25.1 million last Monday and ended with another RM18.9 million on Friday.

“Local institutions maintained their net selling stance for the third week coming at a rate of RM70.7 million,”it said.

They sold a net total of RM62.8 million worth of stocks on Thursday, RM36.9 million on Wednesday and RM11.5 million on Monday. These were softened by net buys on Tuesday and Friday at RM15.2 million and RM25.4 million respectively.

Financial services, utilities and consumer products and services were the foreign investors’ favourites. The picked up RM222.8 million, RM49.8 million and RM25.1 million worth of stocks in each of the three sectors during the week.

The top three sectors with net outflows were industrial products and services at RM86 million, technology at RM59.2 million and plantation at RM12.5 million.

To date, international funds have been net buyers for 19 out of the 30 weeks of 2022, with total net inflows of RM6.27 billion.

“Local institutions were net sellers for 23 out of 30 weeks, with a total net outflow of RM7.96 million. Local retailers have been net buyers for 19 out of 30 weeks of 2022. Year-to-date, they have been net buyers at RM1.7 billion,” it said.