Briefing 2023-06-03

Stocks rally for fourth straight week

Stocks continued their rally for the fourth consecutive week, driven by smart investors' bets on lucrative shares ahead of the budget announcement. The DSE saw three higher-closing sessions and two with moderate corrections. The DSE's prime index, DSEX, reached its highest level since November 2022, and sector-specific issues, particularly in insurance, attracted buying interest. Page 9

Joy's century helps A-team salvage draw

Bangladesh A opener Mahmudul Hasan's unbeaten 114 helped salvage a draw against West Indies A in the third unofficial Test. Despite losing the series 1-0, Bangladesh A fought back after an early hiccup, with Joy's resilient batting leading the way. He formed crucial partnerships, including a 117-run stand with Yasir Ali, as Bangladesh closed the day at 306-4, denying West Indies A victory. Page 13

BD 89th in Global Startup Ecosystem Index

Bangladesh has climbed to the 89th position in the Global Startup Ecosystem Index 2023, marking a four-spot improvement. Dhaka also saw a significant rise of 115 places to secure the 211th position in the city category. The report highlights the impact of startups in Dhaka and emphasises the need for government support in improving infrastructure, policy and industry-academia collaboration. Page 16