AKD STOCK SMART
Weekly Review
Political happenings namely CJP’s remarks in an Election Act Case, US bid to put Pakistan on global terrorist-financing watch list and NAB’s move to get the names of Nawaz Sharif and others on ECL, have once again put investors on notice. This along with unabated foreign selling (US$28.02mn MTD) eroded the investor confidence, with KSE-100 index losing 182pts (-0.41%WoW) during the week to close at 43,627pts. With the risk off sentiment prevailing at the bourse, avg. daily traded volume also dropped 18.8%WoW to 198.77mn shares, where volume leaders during the week were: 1) ANL (86.91mn shares), 2) TRG (54.12mn shares), 3) LOTCHEM (36.93mn shares), 4) FFL (36.78mn shares) and 5) KEL (33.57mn shares). Sector wise, commercial banks gained 2.5%WoW on a relatively favorable SC’s judgment in a pension case, while Pharma sector lost 4.1%WoW on account of SC taking notice of Sindh High Court’s stay order in hardship medicines case. Other key news flows impacting the market included: 1) SC reserving its judgment in Article 62-1F disqualification period case, 2) trade deficit widening to US$21.54bn in Jan’18 (up24.4%YoY), with both import and exports growing by 19.3%/11%YoY, 3) auto sector registering 12.8%YoY growth in Jan’18, with industry off-take reaching all time high of 24,500 units, and 4) foreign reserves falling by US$215mn to US$18.96bn during the week ended Feb 09’18. Performance wise, major gainers during the week were: 1) HBL (+8.44%WoW), 2) UBL (+3.67%WoW), 3) ABL (+2.25%WoW), and 4) PPL (+2.12%WoW),whereas laggards included: 1) MLCF (-8.32%WoW), 2) DGKC (-6.62%WoW), 3) NCL (-4.91%WoW), 4) PTC (-4.85%WoW) and 5) FCCL (-4.61%WoW).
Outlook
We expect the market participants to remain cautious ahead of the Financial Action Task Force (FATF) meeting (scheduled on Feb 18-23) to decide Pakistan’s inclusion in the grey list. Additionally, political noise can escalate as the deadline to decide on corruption references against Sharif family draws closer. Moreover, key result announcements scheduled for next week in Banking (UBL, NBP & ABL), Cement (FCCL, DGKC & BWCL), Oil and Gas (OGDC, MARI & PPL), and Power (HUBC, NPL & KAPCO) can keep the relevant scrips in the limelight.
Oil and Gas Development Company is a petroleum exploration and production (E&P) company in the Pakistan oil and gas sector. Co.'s principal activity is to explore, develop, produce and sell oil and gas resources and related activities. Co. also manufactures Gas, Liquefied Petroleum Gas, Crude Oil, and Sulphur. Co.'s major fields contributing in the aforesaid production of crude oil include Nashpa, Kunnar/KPD, Pasakhi, Sinjhoro and Rajian and for gas include Qadirpur, Uch, KPD, Nashpa and Dakhni. Co. carries out exploration and development activities on its own as well as in joint ventures with other oil companies.
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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