The net overseas investment at the Dhaka Stock Exchange increased by 181.91 per cent or Tk 234 crore in June compared with that in the previous month as low prices of stocks lured foreign investors. The key index of the DSE, DSEX, on June 17 declined to five and a half months low at 4,338.87 points as the proposed budget for the fiscal year 2014-2015 frustrated capital market investors.
Foreign investors in June bought shares worth Tk 482.51 crore and sold shares worth Tk 119.87 crore, DSE data showed. The net investment stood at Tk 362.63 crore in June against Tk 128.63 crore net investment in May.
In May this year, overseas investors had bought shares worth Tk 353.06 crore against their share sales of Tk 224.42 crore.
The overseas investors’ total turnover stood at Tk 602.38 crore in June while it was Tk 577.41 crore in the previous month.
DSE director Md Shakil Rizvi said that purchasing shares in a dull market and at a low price had become a technique of the overseas investors, while they sold shares in a bullish market when our investors were ready to buy shares at high price.
‘June was another sluggish month for the stock market, that’s why oversees investors increased their participation on the trading floor,’ Shakil, also a DSE former president, said.
As the capital market institutional investors did not play their role properly, that gave the overseas investors the opportunity to buy shares at cheap, he said.
The net foreign investment at the DSE hit a fresh all-time high of Tk 572.08 crore in April this year when they bought shares worth Tk 876.43 crore and sold shares worth Tk 304.35 crore.
Market operators said that foreign investment at the market was increasing as the price level of stocks was in a lucrative range following the market crash and dull period in the last three years.
The earlier highest single month net foreign investment in the bourse was Tk 339.49 crore in June last year when overseas investors had bought shares worth Tk 339.49 crore and sold shares worth Tk 58.30 crore with the total turnover standing at Tk 453.21 core.
The previous highest monthly net investment by the overseas investors was Tk 251 crore in July 2007.
Overseas investors bought shares
worth Tk 327.05 crore in February against their sales of shares worth Tk 206 crore.
The figures declined to Tk 205.27 crore and Tk 108.30 crore respectively in March.
The monthly turnover of the overseas investors at the bourse increased to Tk 1,180.79 crore in April from Tk 313.58 crore in the previous month.
The net overseas investment at the DSE declined to Tk 96.96 crore in March from Tk 121.04 crore in February.
-With New Age input
