AKD STOCK SMART, Nov 16, 2018
KSE-100 Index remained range bound throughout the week touching a low of 40,994pts before closing at 41,661pts (+0.66%WoW). We witnessed a weak start of the week as uncertainties around the Chinese package and materialization of Saudi package amid IMF negotiations kept investors on the err side of caution. However, bulls mustered strength in the latter part of the week to give a positive close, not giving a not-so-subtle salute to MSCI Review. To highlight, MSCI on Nov 14’18 announced its semi-annual review where it declassified LUCK and UBL from the Standard Index to Small Cap Index and downgraded HCAR and MLCF from the EM index. Consequent to exclusion of LUCK and UBL, Pakistan’s weight has been reduced to 0.4% in the MSCI EM index from 0.7% in May’18. Market activity remained strong with ADT standing at 213.3mn shares vs. 196.5mn shares in the previous week as local participants bounced on cheap valuations. ADTV for the week stood at US$88.9mn vs. US$77.9mn in the previous week. A closer look suggests activity to have been tilted towards the main board with ADTV of KSE-100 Index/KSE- All share Index at 81.4% (30W high) vs. 73.2% recorded in the previous week. Top five weekly gainers (AKD Universe) are, 1) PIOC (+17.64%), 2) CHCC (+10.38%), 3) PSMC (+6.99%), 4) MCB (+4.69%), and 5) HBL (+4.16%), while the losers (AKD Universe) are, 1) PPL (-2.26%), 2) HASCOL (-2.47%), 3) PTC (-3.08%), 4) KEL (-3.29%), and 5) ASTL (-4.44%).
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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