Dhaka, Bangladesh (BBN)-Net foreign investment in the Bangladesh’s major bourse – Dhaka Stock Exchange (DSE) – fell drastically by 84 percent in August from July as foreign investors were in selling mood.
The overseas investors bought shares worth BDT 1.64 billion in August and sold stocks worth BDT 1.52 billion, taking their net investment to BDT 124.56 million, according to data from the Dhaka Stock Exchange (DSE).
In July, net foreign investment was BDT 796.42 million as they bought shares worth BDT 1.66 billion and sold shares worth BDT 868.09 million, the DSE data showed.
However, total foreign turnover (buy-sell) increased by 25 percent in August from a month ago.
Total turnover stood at BDT 3.17 billion in August which was BDT 2.53 billion in July.
“The net foreign investments in DSE fell drastically in August as foreign fund managers were in selling mood throughout the month,” said a DSE official.
The foreign investors preferred power and energy sector. But non-bank financial institutions, pharmaceuticals, multinational companies, telecom and IT also caught their attention, brokers said.
In 2013, foreign investors bought shares worth BDT 26.52 billion and sold stocks worth BDT 7.09 billion, taking their net investment for the year to BDT 19.43 billion.
BBN/BB/AS-10:00pm (BST)
