Dhaka, Bangladesh (BBN) - Net foreign portfolio investment (FPI) in Dhaka stocks fell by 78.58 percent in July as investor enthusiasm did not grow at the same rate as in the previous month due to sluggish market trend and less trading sessions.
Overseas investors bought shares worth BDT 1.66 billion and sold shares worth BDT 868 million, taking their net investment to BDT 796 million in July, according to the Dhaka Stock Exchange statistics.
On the other hand, net investment by foreign investors in June was BDT 3.62 billion as they bought shares worth BDT 4.82 billion, while they sold shares worth BDT 1.20 billion.
“It’s natural that foreign investors will not be in the same buying mood after making a big investment in the previous month,” said an analyst.
The June was a 22 trading-session month while July was a 17 trading-session month as trading was suspended a week due to Eid vacation.
Banks energy and telecom stocks were the foreign investors’ preferred stocks, but pharmaceuticals, Non-bank financial instructions and IT also caught their attention.
In 2013, foreign investors bought shares worth BDT 26.52 billion and sold shares worth BDT 7.09 billion, taking the net investment of BDT 19.42 billion, the DSE data showed.
BBN/SSR/BB-01Aug14-5:05 pm (BST)