AKD STOCK SMART
Bullish sentiment resurfaced toward the later end of the week, as upbeat earnings and offtake announcements (for cements, urea & POL products) pushed the KSE-100 index higher by 1.1%WoW to close at 49,851pts. Slow start to the week reduced average daily turnover by 26.4%WoW to 263.8mn shares, picking up towards the end, as political noise took a back seat to upbeat fundamentals. Key news flows during the week were: 1) CPI based inflation for Apr’17 clocked in at 4.78%YoY vs. 4.92%YoY in Mar’17, where sequential rise of 1.4%MoM was driven by food/rent indices that jumped 1.8%MoM/1.2%MoM, 2) MoF agreed to release PkR104bn to settle pending power subsidy claims for the FY17, 3) The securities market regulator, SECP laid down the criteria for mutual funds’ investment in listed equity securities restricting investments in illiquid and unprofitable stocks, and 4) the Supreme Court of Pakistan has formed the joint investigation team (JIT) comprising six members of various agencies to investigate aspects of the Panama papers case against PM Sharif and his family. Stock leading the bourse included: 1) NCL (+8.5%WoW), 2) BAFL (+7.9%0, 3) EPCL (+7.45WoW), 4) LUCK (+6.3%WoW), whereas on the opposite end, declines were witnessed in: 1) AGTL (-6.7%WoW), 2) PIOC (-5.3%WoW), 3) SNGP (-3.4%WoW) and 4) PTC (-2.7%WoW). FIPI data points to foreign investors pulling out US$19.28mn during the week accelerating their exit over last week’s net outflow of US$10.71mn.
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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