BATBC tops weekly turnover chart
Ten firms account for 37pc of DSE turnover
FE REPORT | Saturday, 31 August 2024
British American Tobacco Bangladesh (BATBC) dominated the weekly turnover chart this week for the first time in more than two years, while ten most-traded firms accounted for 37 per cent of the transactions on the Dhaka Stock Exchange (DSE).
Being upbeat about the development of the country's political landscape, investors made fresh bets on large-cap stocks as the newly revamped commission took some market supportive measures, said a leading stockbroker.
The total turnover of the week stood at Tk 31.7 billion as against Tk 31.2 billion in the previous week even as this week saw four trading days instead of regular five days.
The enthusiastic investors chased BAT Bangladesh stocks after a long time as the tobacco manufacturer reported higher quarterly profit for the April-June this year.
The company posted a 3.7 per cent growth in profit for the April-June (Q2) this year, compared to the same quarter of the previous year, riding on higher domestic sales and lower operating expenses.
As a result, BATBC became the most traded stock with shares worth Tk 2.78 billion changing hands. Its stock price also jumped 2.4 per cent during the week to Tk 419.7 on Thursday.
Olympic Industries came second on the turnover chart, with shares worth Tk 1.49 billion changing hands. The company's stock surged 12 per cent to close at Tk 201.1 on Thursday.
Grameenphone clinched the third spot, with shares worth Tk 1.37 billion changing hands. The largest market-cap stock closed at Tk 344, losing 0.6 per cent over the week before.
Renata emerged as the fourth, with shares worth Tk 1.3 billion changing hands during the week. The drug maker's stock price dropped 0.2 per cent to close at Tk 761.1 on Thursday.
BRAC Bank notched the fifth spot, with shares worth Tk 1.15 billion changing hands. The bank's stock closed at Tk 53.6, gaining 0.80 per cent over the previous week.
MJL Bangladesh featured a turnover of Tk 1.03 billion changing hands. The company's stock closed at Tk 102.4, soaring 16.9 per cent over the previous week.