Briefing 23-06-2022

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FE Team | Published: June 23, 2022 00:31:09

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Stocks end three-day losing spell
Stocks posted a marginal gain on Wednesday after high volatility as most investors remained cautious amid rising virus cases and persistent macroeconomic worries. The market closed slightly higher after a three-day losing streak. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 6.14 points to settle at 6,317, after losing 114 points in the past three consecutive days. Page 9
Ukrainian city under 'massive'attack
Ukrainian forces are facing "massive" and relentless artillery attacks in a battleground eastern city, Kyiv warned, as Russian troops gained ground throughout the Donbas region. Moscow's troops have been pummelling eastern Ukraine for weeks and are slowly advancing, despite fierce resistance from the outgunned Ukrainian military. Page 14
Oil slumps over 6pc
Oil prices tumbled on Wednesday on news of a plan by US President Joe Biden to cut fuel costs for drivers and amid concerns over a potential economic recession after recent central bank rate hikes, which also weighed on equities. Page 22
Secondary market of flats booming
The secondary market for flats and commercial spaces has been gaining prominence in the country nowadays due to affordability, mortgage facility and swift transfer of ownership. The demand is mostly driven by the burgeoning middle-class population in the big cities like Dhaka and Chattogram who now have more disposable income to go for property investment, according to Bproperty, a complete property solutions provider in Bangladesh. Page 17