AKD STOCK SMART, Apr 28, 2017
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Having recovered 4.5% last week, KSE-100 went back into the red zone with the index losing 408pts/0.82%WoW to close at 49,301. We believe this is on account of new disclosure requirements by SECP, and continued political uncertainty with regards to Panama-gate JIT with futures rollover week further aggravating the decline. Average daily traded volumes inched up 29.3%WoW to 359mn shares with 1) EPCL (109.5mn shares), 2) ASL (101.9mn shares), 3) ANL (88.4mn shares), 4) SMBL (83.7mn shares) and 5) TRG (72.9mn shares) leading the board. Key news flows during the week included: 1) PSMC unveiling the 1,000cc Celerio (rebranded as the new Cultus) at a ceremony held in Lahore, 2) PPL announcing discovery of 29.2mmscfd gas from its Gambat South block (65% working interest), 3) announcement of Punjab Orange Cab scheme for the unemployed youth by CM Punjab (expected scheme size of ~100,000 units), 4) GoP raising PkR360bn through auction of short-term government papers with cut off yields for 3M, 6M, and 12M coming in at 5.99%, 6.01% and 6.02% respectively and 5) GoP notifying a relaxation of the moratorium on new gas connections for industrial, commercial and captive consumers directing the gas utilities to implement it with immediate effect. Performance leaders during the week were: 1) AGTL (+19.9%WoW), 2) PSMC (+19.9%WoW), 3) INDU (+16.3%WoW), 4) ASTL (+7.6%WoW) and 5) HCAR (+7.3WoW); while laggards included: 1) PPL (-8.8%WoW), 2) EFERT (-6.4%WoW), 3) NCL (-6.3%WoW), 4) NML (-5.7%WoW) and 5) CHCC (-5.4%WoW). Foreign participation continued its negative trend with US$10.71mn outflows compared to US$31.97mn in the last 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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