Foreign fund at DSE rises 3-fold in Jan

Staff Correspondent | Published: 00:05, Feb 01,2018

 
 

The net overseas investment at the Dhaka Stock Exchange witnessed a threefold, or Tk 124.68 crore, increase in January this year compared with that in the previous month despite a downward trend at the market in the month.
Market operators said the overseas investment surged over the month as they went for bargain hunting as the share prices at the market decreased amid the downward trend since December last year due to the local investors’ worries over bank scams and Bangladesh Bank’s monetary policy.
DSEX, the key index of the DSE, lost 204.74 points to 6,039.74 on Wednesday from the December closing. The key index was at 6,306.86 points at the end of November last year. The turnover of the market remained dull at Tk 400 crore in last two months.
The low prices of the stocks prompted the foreigners to inject fund at the market, market operators said.
Moreover, the foreigners went for investment at the market with expectation of
better financial earnings and dividends for the year 2017.
They expected that the market would progress from the very beginning of the year, market operators said.
In January, the net foreign investment at the DSE rose to Tk 187.24 crore from that of Tk 62.55 crore in the previous month, showed the data released by the bourse on Wednesday.
Foreign investors bought shares worth Tk 667.43 crore in January against their sales of shares worth Tk 480.19 crore.
The buy and sales in December were Tk 593.51 crore and Tk 530.96 crore respectively.
The total foreign turnover on the bourse also increased by 2 per cent to Tk 1,147 crore in January from that of Tk 1,124 crore in the previous month.
The net foreign investment also increased fourfold, or Tk 43.60 crore, to Tk 62.55 crore in December compared with that in the previous month.
Foreign investors’ net investment at the country’s premier bourse surged to Tk 1,704.94 crore in 2017 from Tk 1,340.70 crore in 2016.
Overseas investors’ turnover at the bourse was Tk 3,362.11 crore in 2010, Tk 1,904.19 crore in 2011, Tk 2,355.23 crore in 2012, Tk 2,834.90 crore in 2013, Tk 6,600.94 crore in 2014 and Tk 7,465.4 crore in 2015.
The net overseas investment at the bourse was negative Tk 767.58 crore in the year of market crash (2010). 

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