Dhaka, Bangladesh (BBN)-The month-on-month net foreign portfolio investment in Dhaka Stock Exchange (DSE) jumped by 180 percent in June compared to May as overseas investors injected fresh funds into fundamentally strong stocks.
Overseas investors bought shares worth BDT 4.82 billion, while they sold shares worth BDT 1.20 billion in June, taking their net investments BDT 3.62 billion.
It was also the second highest net investments in DSE since April, this year.
In May, foreign investors bought shares worth BDT 3.53 billon, while they sold shares worth BDT 2.24 billion.
Foreign investment, also known as portfolio investment, accounts for around 2 percent of DSE’s total market capitalisation, which stood at BDT 2,928.25 billion as on Wednesday.
Multinational companies stocks were the foreign investors’ preferred sector, but power and energy, pharmaceuticals, telecoms 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, according to the DSE data.
BBN/BB/SS-03July14-8:00am (BST)