AKD STOCK SMART
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The benchmark KSE-100 index gained 957pts /2.16%WoW closing the week at 45,294 pts. Volatility remained high with news flows emanating from Panama case hearing guiding market accordingly. In tandem, the prevailing political noise kept investors at bay with average daily turnover during the week going down by 23%WoW to 133.94mn shares (trading volume on Jul 17’17 plunged to 35month low). Key news flows during the week included: 1) FBR started paying back pending sales tax refunds, 2) GoP extending additional sugar export quota of 300k tons, 3) FY17 CAD touching all time high of US$12.098bn (+148%YoY) amidst falling exports/remittances (-1.6%YoY /-3.08%YoY), 4) LSM registering 6.3%YoY growth in May’17, while 11MFY17 LSM growth of 5.7%YoY remaining close to targeted 5.9%YoY for FY17, 5) GoP signing loan agreement of €165mn with French Development Agency for power sector up gradation, and 6) Retail prices of package milk reportedly rising by PkR10/ltr to PkR130/ltr.Scrips leading the bourse during the week were: 1) APL (+9.06%WoW), 2) HASCOL (+7.39%WoW), 3) OGDC (+5.45%WoW), 4) POL (+5.02%WoW) and 5) CHCC (+4.50%WoW), while laggards included: 1) PIOC (-3.80%WoW), 2) MLCF (-3.65%WoW), 3) KEL (-2.58%WoW), 4) FFBL (-1.50%WoW) and 5) ENGRO (-1.21%WoW). Foreign participation remained lackluster with net outflow of US$2.0mn against net inflow of US$0.989mn in the previous week.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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