The net overseas investment at the Dhaka Stock Exchange rose sharply to Tk 426.25 crore in September after slumping in the previous month as improved political and economic indicators boosted the foreign investors’ confidence. The foreign investors in September bought shares worth Tk 589.60 crore against their share sales worth Tk 163.35 crore with the total turnover standing at Tk 752.95 crore during the month, a DSE data released on Wednesday showed.
The net overseas investment had plunged to a 31-month low at Tk 12.45 crore in August this year which was the lowest since January, 2012 when the foreign investors’ net investment at the bourse was Tk 5.02 crore.
In August, the overseas investors bought shares worth Tk 164.93 crore against their share sales of Tk 152.47 crore.
Union Capital managing director Akter H Sannamat told New Age, ‘Considering the historic price fall and present market situation, the Bangladesh’s stock market is very much lucrative for investment.’
‘Our development partners and international rating agencies have recently made positive prediction about Bangladesh’s growth that might be another reason of overseas investors’ increased attention to the market,’ Akter, also the vice-president of Bangladesh Merchant Bankers Association, said.
Considering the eased political scenario and positive market trend, the foreign investors might be expecting good return from the market, he said.
September’s net foreign investment at the bourse was the highest after Tk 572.08 crore in April this year.
In April, the foreign investors bought shares worth Tk 876.43 crore and sold shares worth Tk 304.35 crore.
The previous highest single-month net foreign investment at the bourse was Tk 339.49 crore in June last year when the overseas investors bought shares worth Tk 339.49 crore and sold shares worth Tk 58.30 crore with the total turnover standing at Tk 453.21 crore.
-With New Age input
