Dhaka, Bangladesh (BBN) - The portfolio investment in Bangladesh’s stocks hit three months high to BDT 3.30 billion in March since December 2016, as foreign investors took position on lucrative stocks.
The overseas investors bought shares worth BDT 7.11 billion and sold stocks of BDT 3.81 billion to take their net investment to BDT 3.30 billion in March, according to statistics from the Dhaka Stock Exchange (DSE).
It was also the highest net foreign investment in three months since December 2016, when net foreign investment was recorded BDT 3.85 billion.
In February, net investment by overseas investors was BDT 2.38 billion, as they bought shares worth BDT 4.35 billion and sold stocks worth BDT 1.97 billion.
Analysts said the foreign investors increased their position in stocks, anticipating positive market scenario in coming days.
“Foreign investment in the country’s premier bourse is gradually increasing and the trend will may continue in the coming days too as market offers discounted rate of many fundamental stocks,” said a DSE official.
During the month of March, DSEX, the prime index of the DSE, registered a cumulative gain of 107 points or 1.90 per cent.
Insiders said bank shares were the top choice of foreign investors, who also seemed interested in power and energy, non-banking financial institutions, telecom, pharmaceuticals, multinational companies and IT companies.
Also known as portfolio investment, foreign investment accounts for around 2.0 per cent of the DSE’s total market capitalisation, which stood at BDT 3,823 billion as of Monday.
BBN/SK/AD