AKD STOCK SMART
StockSmart
Weekly Review
After losing 1,772pts last week, fragile economic outlook and the ongoing foreign sell-off is taking toll on investor psyche, where the market shed another 1,708pts (down 4.36%WoW) in the current week to close KSE-100 index at 37,518 (a 119-Week Low). Much of the weakness was driven by: 1) feeble economic outlook and rising interest rates as investors look for attractive yields in fixed income asset class and 2) IMF chief’s statement hinting towards stringent conditions for a bail-out package. However, average daily traded volumes at the bourse rose by 65.3%WoW to 187.5mn shares with 1) TRG (48.9mn shares), 2) BOP (39.6mn shares), 3) KEL (34.9mn shares), 4) LOTCHEM (30.5mn shares) and 5) EPCL (26.9mn shares) leading the board. Major news highlights during the week were: 1) GoP formally announcing its intention to approach the IMF for a bailout package, with the latter demanding transparency over Pakistan’s external debts including those owed to China, 2) ADB announcing US$7.1bn financial package for Pakistan spread over a three year period, 3) SBP in its latest data revealing that country’s trade deficit has narrowed by 1.8%YoY to US$8.9bn in 1QFY19, 4) delegation of the Asia Pacific Group (APG) asking Pakistan to do more in order to get out of the grey list of FATF, and 5) PM Imran Khan launching ‘Naya Pakistan Housing Programme’ pilot project, aimed at building 5mn low-cost housing units across the country. Performance leaders from our AKD universe during the week were: 1) KEL (+4.20%WoW), 2) ASTL (+2.84%WoW), 3) OGDC (+0.89%WoW) and 4) PTC (+0.62%WoW); while laggards included: 1) PSMC (-20.24%WoW), 2) CHCC (-16.37%WoW), 3) MLCF (-12.96%WoW), 4) INDU (-11.37%WoW) and 5) FATIMA (-0.08%WoW).
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.
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