The Financial Express

Stocks post marginal gains at opening amid rising turnover

BATBC jumps 16pc on dividend news

| Updated: February 14, 2021 15:52:53

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Stocks opened marginally higher on Thursday, with bargain hunters remaining active on lucrative issues, particularly on British American Tobacco following its high dividend declaration news.

Within the first hour of trading, the share price of BATBC jumped about 16 per cent to reach at Tk 1,749.90 over the previous day as the company declared total 600 per cent cash and 200 per cent stock dividend for the year ended on December 31, 2020.

BATBC was also the most traded stock till then with shares worth Tk 1.63 billion changing hands.

In 2019, the tobacco company disbursed 400 per cent cash dividend.

Following the previous day’s modest rise, the Dhaka Stock Exchange and the Chittagong Stock Exchange managed marginal gains amid high volatility.

After the first hour into trade, DSEX advanced 2.92 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 54 points at 11:00 when the report was filed.

DSEX, the prime index of the DSE, went up by 2.92 points or 0.05 per cent to stand at 5,512 points till then.

The DS30 index, comprising blue chips gained 16.94 points to reach 2,118, riding on BATBC. However, the Shariah Index (DSES) lost 7.16 points to stand 1,238 points till then.

Turnover, another important indicator of the market, stood at Tk 3.58 billion within the first hour of trading at 11:00 am.

Of the issues traded till then, 47 advanced, 181 declined and 79 remained unchanged.

The Chittagong Stock Exchange also saw a positive note till then with the CASPI gaining 54 points to stand at 16,033, also at 11:00 am.

Of the issues traded till then, 25 gained, 79 declined, and 15 issues remained unchanged with Tk 114 million in turnover.

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