AKD STOCK SMART
The benchmark index went downhill in four of the five trading sessions, resultantly closing the week at 41,742pts, down 1.99%WoW. Fearing gas price hike and its spillover effects on industries, investor sentiments had turned negative even before the ECC meeting. An inconclusive outcome with regards to fertilizer inventories, circular debt clearance and postponement of gas price hike led to further selling in the mainboard sectors, ramping the index down for rest of the week. Volumes however improved 19.1%WoW during the outgoing week to daily average of 177.48mn shares, where volume leaders included 1) EPCL (53.97mn shares), 2) NRSL (51.23mn shares), 3) AGL (43.86mn shares), 4) STPL (42.38mn shares) and 5) UNITY (42.23mn shares). Other news highlights for the week included: 1) World Bank delegation emphasizing that Pakistan needs to focus on private sector policies for a longer time horizon to encourage private investors, while committing an indicative financing of US$11bn in CAS’ 2014-19, 2) Moody’s identifying Pakistan as a country most vulnerable to US$ appreciation, 3) Pakistan’s budget deficit widening to PkR2.26trn or 6.6% of GDP in FY18, 4) Federal Cabinet setting up six committees to introduce reforms in different sectors and to carve out a new province from Punjab and 5) recent data from EAD showing that Pakistan has received US$439mn loans from various international lenders in Jul’18. Performance leaders from AKD universe during the week were: 1) HASCOL (+3.16%WoW), 2) FFBL (+2.88%WoW), 3) NBP (+2.29%WoW) and 4) BAFL (+1.82%WoW); while laggards included: 1) MLCF (-9.14%WoW), 2) CHCC (-9.06%WoW), 3) PIOC (-8.14%WoW), 4) LUCK (-6.43%WoW) and 5) FFC (-5.97%WoW). Foreigners continued to offload their stake in domestic equities with net outflow of US$10.0mn in the outgoing 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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