AKD STOCK SMART
Remaining devoid of any major trigger, the market had a turbulent first week of the new year, with the wild intra-day moves. Gaining 929pts on the second trading session, the benchmark KSE-100 index erased some of the earlier gains in the following two trading sessions before closing the week on a positive note. Overall, the KSE-100 index gained 1.02%WoW to close the week at 37,547pts, up 380pts. Trading activity remained largely subdued with average daily trading volumes further declining to 106.95mn shares, down 3.1%WoW. Key news flows impacting the market during the week were: i) Finance Minister Asad Umer hinting towards another fiscal adjustment, with likely announcement of mini-budget in mid Jan’19, ii) the gov’t officials reportedly announcing that the Chinese gov’t agreed to lend US$2bn to Pakistan for helping it boost dwindling foreign exchange reserves, iii) markedly below consensus expectations, monthly inflation reading for Dec’18 clocking in at 6.17%YoY compared to 6.5%YoY in Nov’18 and 4.57%YoY in Dec’17, iv) US President Donald Trump hinting towards a better relationship with Pakistan, eyeing meet-up with Pakistani leadership, and v) FX reserves held by central bank further dwindling US$170mn to reach at US$7.28bn during the week ended Dec 28’18 . Key performers over the week were: i) BAFL (+8.34%WoW), ii) CHCC (+5.25%WoW), iii) ENGRO (+5.22%WoW), iv) PIOC (+4.29%WoW) and v) HBL (+4.29%WoW), while laggards included: i) FATIMA (-6.48%WoW), ii) HASCOL (-4.86%WoW), iii) EFOODS (-4.75%WoW), iv) FFBL (-4.66%WoW) and v) NCL (-3.70%WoW). Foreigners remained net sellers, offloading US$0.51mn worth of equities, compared to US$1.1mn outflow in the previous 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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