BBN file photo
Dhaka, Bangladesh (BBN) - The month-on-month net portfolio investment in Bangladesh’s stocks fell nearly 49 per cent in July as overseas investors followed “go-slow” strategy.
The foreign investors adopted a ‘wait-and-see’ policy in July, as their exposure to the stock market was the highest in June 2017, according to analysts.
Overseas investors bought shares worth BDT 6.25 billion and sold shares worth BDT 4.25 billion to take their net investment to BDT 2.0 billion in July, the first month of the current fiscal year, according to data from the Dhaka Stock Exchange (DSE).
In June, the net position by foreign investors was BDT 3.90 billion as they bought shares of BDT 7.31 billion and sold shares worth BDT 3.41 billion.
On the other hand, overseas investors bought shares worth BDT 61.39 billion and sold shares worth BDT 38.70 billion to take their net investment to BDT 22.69 billion in the fiscal year (FY) 2016-17.
Banks are the foreign investors’ preferred sector, followed by non-banking financial institutions (NBFIs), power and energy, pharmaceuticals, multinationals, telecoms and IT.
The foreign portfolio investment accounts for nearly 2.0 per cent of the premier bourse’s total market capitalisation, which stood at BDT 3,965 billion at the close of trade on Wednesday.
BBN/SSR/SR