The net foreign investment in the country's capital market more than trebled year-on-year in March 2018 as overseas investors were tempted by the slump in the stock market, according to a quarterly review of a major trade body.
The review by Metropolitan Chamber of Commerce & Industry, Dhaka (MCCI) on Economic Situation in Bangladesh for January-March 2018 (Q3 of FY18) said in March, foreign investors purchased shares worth above Tk 4.55 billion and sold off shares worth above Tk 2.99 billion.
The net foreign investment in March thus rose to above Tk 1.56 billion as compared to a negative of Tk 940 million in the previous month.
"However, the net foreign investment in Q3 of FY18 decreased to above Tk 2.49 billion from above Tk 7.54 billion in the corresponding period of FY17," said the MCCI.
It also said Dhaka stocks rebounded strongly on March 29 this year, the last working day of the quarter under review (Q3 of FY18), after breaking a three-day losing streak amid active participation by institutional and general investors.
On that day, the benchmark index of the Dhaka Stock Exchange (DSE), DSEX, rose by 108.57 points or 1.97 per cent to close at 5,597.
"It was the biggest single-day gain in the past one-and-a-half months since 11 February 2018, when DSEX surged 128 points or 2.15 per cent. The other two indices of the DSE also ended higher."
The DS30 index, comprising blue chips, gained 50.65 points to finish at 2,106 and the DSES, the shariah-based index, rose more than 17 points to settle at 1,314.
Also, the Chittagong Stock Exchange (CSE) ended higher with its Selective Categories Index (CSCX), advancing 167.39 points or 1.6 per cent to settle at 10,403, the MCCI said.
[email protected]
