MNA Business Desk: The net foreign funds in the Dhaka Stock Exchange (DSE) remained negative in November as foreign investors were reluctant to put fresh stakes, reported news agency.
Market insiders said depreciation of taka against the US dollar coupled with political tension surrounding national elections played a crucial role in withdrawing funds by the foreign portfolio investors.
In November, the overseas investors collected shares worth Tk 3.24 billion but sold shares worth Tk 3.46 billion, resulting in their net position negative by Tk 0.22 billion, according to statistics available with the DSE.
In October, the foreign investors’ net position was also negative (Tk 2.01 billion), as they purchased shares worth Tk 2.83 billion and sold shares almost double worth Tk 4.84 billion, the DSE data shows.
During the year under review, the net foreign investment in stocks was also negative in February, April, May, June, July and October.
In the eleven months from January to November in 2018, the overseas investors bought shares worth Tk 42.48 billion and sold stocks worth Tk 47.40 billion, taking their net position in the negative Tk 4.92 billion.