AKD STOCK SMART
Weekly Review
A tussle between bulls and bears ended with the dominance of bears, as KSE-100 index lost another 373pts during the week to close at 40,496pts (-0.91%WoW). Lack of clarity on external funding amidst foreign selling pressure (US$51.1mn vs. US$11.6mn in the last week) post MSCI rebalancing kept the domestic market under pressure. In tandem, market activity remained lackluster with average daily turnover declining to 151.9mn shares, down 3.1%WoW. Key news flows impacting the market during the week included: i) Rupee losing another 2.5% against dollar, with PKR/US$ parity settling at PkR136.75 after touching intra-day high of 143, ii) Pakistan’s total foreign exchange reserves surging 6.24%WoW to US$14.57bn during the week ended Nov 23’18, with reserves held by central bank increasing by US$776mn to US$8.06bn, iii) the GoP deciding to raise up to PkR200bn to bail out the country’s ever-bleeding power sector by pledging major assets of the distribution and generation companies, iv) Country’s fiscal deficit rising to 1.4% of GDP or PKR542bn in 1QFY19, compared to 1.2pc or PkR441bn in the same period last year, and v) NEPRA withholding countrywide applicability of PkR1.27 per unit increase in uniform electricity tariff, citing legal grounds. Performance wise, top gainers in AKD Universe were: i) EFOODS (+4.42%WoW), ii) PPL (+3.45%WoW), iii) MCB (+3.04%WoW), iv) OGDC (+2.61%WoW), and v) HBL (+2.35%WoW) while the top losers included i) CHCC (-13.81%WoW), ii) ASTL (-10.80%WoW), iii) PIOC (-9.78%WoW), iv) FCCL (-9.7%WoW) and v) LUCK (-7.23%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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