AKD STOCK SMART
StockSmart
Weekly Review
Despite positive news flows at the start (Saudi Crown Prince's visit and accompanying investments) a barrage of weak volumes, mediocre results (with payouts skipped by IPPs) and lack of concrete development on the passage of the Supplementary Finance Bill through parliament, kept a hold on equity market performance with the KSE-100index slipping 1.16%WoW, to close at 40,016pts. Key news flows during the week were: 1) Crown Prince Mohammed bin Salman on Sunday said Saudi Arabia has signed investment agreements worth $20 billion during his high-profile visit to Pakistan, 2) The wait for the passing of a supplementary bill in the National Assembly has delayed its likely impact in tax relief to businesses and individuals, 3) The country's current account deficit during January narrowed to US$809mn, falling by 47YoY from US$1.544bn recorded during December'18, and 4) India is pressing for Pakistan to be kept on a terrorism financing watch list following an attack in occupied Kashmir. Gains during the week were led by: 1) PSO (+3.8%WoW), 2) MCB (+3.1%WoW), 3) OGDC (+2.8%WoW), 4) POL (+1.6%WoW), whereas laggards were: 1) KAPCO (-11.2%WoW), 2) PSMC (-8.5%WoW), 3) UBL (-7.6%WoW) and 4) MLCF (-6.8%WoW). Volumes during the week climbed 18.8%WoW to average 125.13mn shares well below levels seen during earnings season. Stocks leading the volume board were: 1) KEL (31.5mn shares), 2) PIBTL (31.4mn shares), 3) PAEL (24.2mn shares) and 4) LOTCHEM (22.9mn shares).
Outlook
Earnings announcements over the coming week include INDU, NML, NCL, PIOC, DGKC, ASTL and PPL. Any pickup in activity would bode well for market participants, where illiquidity has caused erratic moves in mainboard sectors, relegating investors to the side-lines. Geo-political developments, circular debt clearance and passage of the mini-budget through parliament remain major flashpoints for investors over the near term. ​
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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