KARACHI - Despite the unprecedented gain of 961 points in the KSE-100 index in a single day, the Pakistani share markets remained in the grip of massive outflow of portfolio investment, as the foreign investors ejected $313.8 million in 23 days of the current month, resulting cumulative net flow turned negative by $93 million in the said period. While the figures of portfolio investment from July07 to date painted a gloomy picture of foreign investment as it is about to breach the record negative net flow of $200 million registered following the assassination of Benazir Bhutto on December, 27, 2007 by standing negative at $179.2 million. In 23 days of the ongoing month the share markets witnessed cumulative inflow of $219.99 million, reflecting increase of $28.02 million against the net inflow recorded 5 days earlier. On June, 23, 2008 the State Bank of Pakistan has reported that the net flow of the portfolio investment has landed into negative by $179.2 million from July07 to date, which reflects further erosion of foreign investment as it stood negative by $136 million on June, 17, 2008. Referring to the huge out flow of portfolio investment by different countries from Karachi Stock Exchange during the year July, 07 to date and current recession at market, Atif Malik, Research Analyst at JS Global said that although the stock market has gained record points on the back of steps taken by SECP and KSE on Monday to provide breathing space for the investors but still the confidence of foreign investors is shattered and they remained disappear from the stock markets. Atif maintained that unless the political confrontation will not be settled the confidence of the foreign investors couldn't be restored because they always give priority to the confidence level rather than other levels. "Decisions taken by SECP and KSE are not a long run solution but I'm sure that these are the best decisions and will support the market in short run," Atif said. "If the political conditions remain volatile the investment would continue to wobble and may witness further down grading in the investment," Atif added. The Karachi stock market witnessed highly volatile and bearish trading sessions during the last two months amid continued political uncertainty in the country, as a result of which benchmark index fell by more than 4,000 points, analysts said The data of portfolio investment reflects net outflow of $4.59 billion and inflow of $4.41 billion during July07 to date. Investors from USA wiped off a total investment of $2.2 billion, while other huge withdrawals of funds from investors based in the UK, Switzerland, Hong Kong, Singapore and Australia combined took out $2.2 billions, UK $1.56 billion, Hong Kong $367.7million, Switzerland $129.4million, Singapore $64 million and Australia $73million. But the trend of divestment did not remain confined to these six countries only. Investors based in B.V.Island, Germany, France, and Kuwait ejected their investment amounted $ 70.3 millions from the stock market.