AKD STOCK SMART, Apr 21, 2017
​Weekly Review
With verdict on Panama case out, the benchmark KSE-100 index returned 4.48%WoW to close the week at 49,709pts. In this regard, Supreme Court (SC) while forming a Joint Investigation Team (JIT) stayed short of disqualifying the Prime Minister (PM) in the Panama-gate decision. The JIT (to be comprised of one senior official each from the FIA, NAB, SECP, SBP, ISI and MI) has been tasked to further probe offshore assets (incl. money transfer to Qatar) of the PM’s family. Other key news flows during the week were: 1) Net foreign direct investment (FDI) soared 12.4%YoY to US$1.6bn during 9MFY17, 2) FY18 federal budget would be presented on May 16’17 as announced by Finance Minister, 3) Current account deficit (CAD) increased by 161%YoY to US$6.13bn during 9MFY17, 4) ASTL announced expansion in steel melting/rolling mill capacity by 200K/270Kmtpa with expected COD in FY18/19,and 5) The GoP rejected all bids in the latest PIB auction held on Apr 19’17. The average daily turnover strongly rebounded 62.44%WoW to 277.66mn shares where volume leaders during the week were: 1) EPCL (106.31mn shares), 2) TRG (98.82mn shares), 3) KEL (78.62mn shares), 4) ASL (63.4mn shares), and 5) BOP (48.5mn shares).Top performers during the week were: 1) SNGP (+12.30%WoW), 2) ASTL (+11.62%WoW), 3) CHCC (+10.96%WoW), 4) HASCOL (+10.76%WoW), and 5) HCAR (+10.63%WoW), while from the mainboard only MCB ended up in the red zone (-2.51%WoW).
Outlook
With Panama case verdict clearing political uncertainty along with upcoming MSCI inclusion (May ’17), we expect positive sentiments to prevail going forward, however roll-over in future contracts may render paltry resistance to positive sentiments. Moreover, ongoing result season is likely to gain traction now while budgetary proposals can direct market performance accordingly.
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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