Foreign investors continued selling shares in the last two months, dismayed by local currency depreciation among other reasons.
Sales of shares surpassed the volume purchased during the period.
According to sources, foreigners sold shares worth more than Tk 3.33 billion in September while they purchased securities amounting to only Tk 440.26 million that month. Total turnover of foreign transactions was of Tk 3.77 billion and the net buy-sell stood at Tk 2.89 billion, a negative value, in September on the Dhaka Stock Exchange (DSE).
Foreigners purchased shares worth Tk 862.08 million in August while the sales were worth above Tk 6.68 billion, the highest amount in one and a half years.
In August, the total foreign turnover stood at around Tk 7.54 billion and net buy-sell was Tk 5.82 billion, a negative value.
Preferring anonymity, an official of a merchant bank, said that in most cases the foreign portfolio investors did not tell the reasons behind their selling shares.
"However, it can be assumed that foreigners have executed sales in the frontier and emerging markets following the declining trend," the official said.
He said the currency depreciation is a major reason behind the increase in sales executed by the foreigners.