Dhaka, Bangladesh (BBN)-Net foreign investment in the Dhaka Stock Exchange (DSE) fell 77 percent in May compared to April 2014 as foreign fund managers preferred to adopt a ‘wait and see’ strategy in the present volatile market.
Foreign investors bought shares worth BDT 3.53 billion and sold shares worth BDT 2.24 billion in May, 2014 to take their net investment of BDT 1.29 billion, according to the statistic from the DSE.
In April, 2014, the net foreign investment was BDT 5.72 billion as foreign investors bought shares worth BDT 8.76 billon and sold shares worth BDT 3.04 billion which was new high, according to DSE statistic.
Power and energy were the foreign investors’ preferred sector, but non-bank financial institutions, pharmaceuticals, multinational companies; telecom and IT also caught their attention, brokers said.
Between January and May, 2014, foreign investors bought shares worth BDT 19.42 billion and sold stocks worth BDT 8.09 billion, showing net investment of BDT 11.33 billion, the DSE data showed.
BBN/BB/ANS-01June14-7:30pm (BST)
