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Daily Business News All Daily Business News
18 Feb 2013
Foreign investment in stocks on the rise

Foreign investment in the capital market is on the rise, as was evident in the first half of the current month.

In January, some Tk 100 crore was received in foreign investment by the premier bourse, but as of February 14, around Tk 76.46 crore flew in.

Foreign investors bought shares worth Tk 143.06 crore and sold shares worth Tk 66.59 crore between February 1 and February 14.

Local stockbrokers, who trade on behalf of the foreign investors, said a revival is being seen in the last one month after two years of descent.

The single-day turnover rose to Tk 550 crore in the middle of February, from Tk 150 crore a month ago.

There is a correlation between the turnover and foreign investor participation.

The higher the turnover, the greater the transaction from foreign investors, said the stockbrokers.

The benchmark price index, DSEX, also increased by more than 100 points during the first half of the month.

The upcoming corporate reporting season, and possible dividend declarations are fuelling optimism among the investors including the foreign ones, the stockbrokers said.

They also expect more foreign investment in future, as the central bank recently allowed local stockbrokers to share profit on trading commission with the foreign stockbrokers, who trade from abroad on behalf of the foreign investors.

Previously, profit-sharing on trading commission was not allowed, which discouraged foreign stockbrokers from participating in the country's capital market.

“Apart from the liquidity flow, the country's economic indicators such as inflation, remittance, export and import are in a good position, meaning this is an ideal time for investment,” said Mohammed Rahmat Pasha, chief executive director of BRAC-EPL, a leading stockbroker for foreign investors.

Source :: The Daily Star