Stocks rise as BAT share price jumps by 18%
The company contributed 40% of the total turnover at Dhaka Stock Exchange (DSE)
Indices of the both stock exchanges witnessed an upward trend despite most of the companies' share price fell over investors selling pressure in the first one-and-half hour of trading session on Thursday.
The multinational cigarette company- British American Tobacco (BAT) Bangladesh Company Limited- has posted an 18 percent to Tk 1,780 jump as it declared bonus for business expansion.
The company contributed 40% of the total turnover at Dhaka Stock Exchange (DSE) and declared 200% stock and 300% final cash dividend for the last year on Wednesday night.
The company declared this bonus worth Tk 360 crore will be using for business expansion as per company disclosed.
"Investors pouring money to buy the shares," said an investment banker.
DSEX, the key index of the Dhaka Stock Exchange (DSE) rose by 0.44% or 24 points to reach at 5,533 till 11:30 am.
While, only 52 companies share price rose, while 176 issues fell and 99 issues price remain unchanged during the session at the DSE.
During this session, DSE turnover stood at Tk472.39 crore.
The benchmark index CASPI at the Chittagong Stock Exchange (CSE) gained 19 points to 15,998 till 11:30 am.
