Dhaka, Jan. 12 -- The wounds that the stock market suffered last year will heal to some extent this year triggering a process of recovery even if businesses take cautionary approaches, said one of the top brokers in the country.

BRAC EPL Stock Brokerage came up with its market forecast mainly taking three aspects into account -- export, import and foreign exchange reserves.

The Russia-Ukraine caused a sharp rise in commodity prices, especially the oil price. As a result, the import growth accelerated fast outstripping exports. The trade gap widened leading to the depletion of the foreign exchange reserves.

Things will be better, making the market more resilient against external factors, said BRAC EPL in a report, a copy of which has be...