Dhaka, Bangladesh (BBN)- Net foreign portfolio investment in Dhaka stocks fell slightly by 6.67 percent in November from October as overseas investors remained followed cautious stance.
Overseas investors bought shares worth BDT 3.48 billion and sold stocks worth BDT 1.65 billion, taking their net investment to BDT 1.82 billion in November, according to statistics from Dhaka Stock Exchange (DSE).
In October, net foreign investment was BDT 1.95 billion, as foreign investors bought stocks worth Tk 3.02 billon and sold shares worth BDT 1.07 billion, the DSE data showed.
However, total foreign turnover increased by 25.43 percent in November from a month ago. Total turnover stood at BDT 5.13 billion in November which was BDT 4.09 billion in October, according to the DSE statistics.
“The net foreign investments in DSE fell slightly in November as foreign fund managers were closely observing the Bangladesh market situation,” said an analyst.
The overseas investors still interested in the Bangladesh market with the country’s favourable economic factors, political stability and a positive market outlook, the stock broker said.
Also known as portfolio investment, foreign investments accounts for around 2 per cent of DSE’s total market capitalisation of BDT 3,225.36 billion as of Monday.
In January-November, foreign investors bought shares worth BDT 42.19 billion and sold shares worth BDT 17.62 billion to yield a net investment of BDT 24.57 billion, according to DSE data.
BBN/SSR/BB-01Dec14-11:50 pm (BST0