AKD STOCK SMART, May 19, 2017
​Following the announcement of Pakistan’s up gradation to EM status in the MSCI Index, the market nosedived and continued the downward trend during the week as investors resorted to profit-taking. The benchmark index closed at 50,742 down 1.95%WoW. Average daily traded volumes fell by 1.45%WoW to 349.9mn shares, with 1) EPCL (111.56mn shares), 2) DSL (104.41mn shares), 3) WTL (91.83mn shares), 4) LOTCHEM (61.13mn shares) and 5) SILK (59.26mn shares) as volume leaders. Key news flows during the week were: 1) As per provisional estimates FY17 GDP growth came in at 5.28% (vs. 4.51% in FY16) missing budgeted target of 5.7%, 2) As per SBP, current account deficit (CAD) widened 205%YoY to US$7.247bn during the 10MFY17, 3) SBP granted an operating license to state-run Bank of China to meet the financing needs of CPEC projects, 4) Supreme Court has ordered National Refinery to pay PkR305mn to the State Bank of Pakistan (SBP) for failing to pay Saudi Aramco its dues on time and 5) FBR has blocked PkR 100bn sales tax refunds and rolled back the Refund Payment Orders( RPOs), claimed by the textile sector filed from the tax period July 1, 2016 onwards. Stocks leading the bourse during the week were: 1) LOTCHEM (+9.41%WoW), 2) POL (+6.11%WoW), 3) PPL (+4.07%WoW), 4) AGTL (+3.80%WoW) and 5) HMB (+3.38%WoW), while laggards were: 1) PSMC (-9.51%WoW), 2) HUBC (-7.43%WoW), 3) UBL (-7.16%WoW), 4) CHCC (-5.83%WoW) and 5) MCB (-5.65%WoW). Foreign participation remained weak with outflows of US$16.4mn compared to outflows of US$2.46mn 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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