British American Tobacco loses Tk2,100cr market cap after floor price lift
BAT Bangladesh's share price today witnessed a 7.5% decline, closing at Tk479.8, down from Tk518.7 in the previous session
Following the removal of the floor price restriction on British American Tobacco (BAT) Bangladesh, the second-largest stock, experienced a market capitalisation decline of Tk2,100 crore to stand at Tk25,909 crore on the first trading day at the Dhaka Stock Exchange (DSE).
BAT Bangladesh's share price today (4 February) witnessed a 7.5% decline, closing at Tk479.8, down from Tk518.7 in the previous session.
Additionally, Grameenphone (GP), the largest stock at the Dhaka bourse, experienced a decline for two consecutive sessions following the removal of the floor price.
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Over these two sessions, its market capitalisation decreased by Tk3,970 crore, settling at Tk34,729 crore.
GP witnessed a decline of over 1.69%, closing at Tk257.20 today.
The downturn in BAT Bangladesh and Grameenphone stocks had a notable impact, leading to a 39-point decline in the key index DSEX, which settled at 6,175.
The turnover of the DSE dropped 19% to stand at Tk793 crore.
