AKD STOCK SMART
StockSmart
Weekly Review
Despite uncertainty emanating from international developments over FATF inclusion, sector-specific developments and legal impediments, the KSE-100 gained 473pts (+1.09%WoW) to close the week at 43,740pts. Cement sector remained in the limelight, with major activity witnessed in the sector on the back of industry-wide price hike (PkR~10-15/bag in North), contributing to enhanced profitability of domestic players. Trading activity remained tepid during the week with daily avg. volume resting at 181.15mn shares (-1.52%WoW). Volume leaders during the week were: 1) DSL (62.78mn shares), 2) AGL (44.38mn shares), 3) TRG (41.65mn shares), 4) ANL (40.65mn shares) and 5) PAEL (38.51mn shares). Key news flows impacting the market during the week included: 1) Foreign office confirming Pakistan’s inclusion on the FATF ‘grey list’ from Jun’18, 2) PML N electing Shahbaz Sharif as an interim party head following SC’s disqualification of Nawaz Sharif in Election Act’17 case, 3) Feb’18 CPI clocking in at 3.8%YoY, down 0.3%MoM on account of seasonal decline in perishable item prices 4) foreign reserves declining by US$416mn (-2.82%WoW) to US$18.34bn and 5) Urea sales clocking in at 539K tons for Jan’18, up 33%YoY. Performance leaders during the week were: 1) MLCF (+14.35%WoW), 2) PIOC (+12.89%WoW), 3) CHCC (+12.82%WoW), 4) FCCL (+11.02%WoW) and 5) DGKC (+10.26%WoW); while laggards included: 1) UBL (-3.83%WoW) 2) PTC (-1.69%WoW), 3) BAFL (-1.27%WoW), 4) NML (-1.06%WoW) and 5) MCB (-0.92%WoW). Foreign portfolio investment continued to post outflow of US$11.4mn for the current week against previous week’s outflow of US$2.78mn.
Outlook
With Senate Elections scheduled tomorrow (Mar 03’18), we expect clarity on the political front to seep through to market sentiment, where consolidation in the Upper House of Parliament by the ruling party could further improve conducive external outlook. With no major results in sight for the upcoming week, the market is expected to track movements in Crude Oil and related commodities, while keeping a keen eye on judicial developments.
AKD Research
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.