AKD STOCK SMART
Continuing with its volatility, KSE-100 stayed in the Red Zone during this week as well, with the index further losing 1,435pts or -3.36%WoW to close the current week at 41,207 (lowest level since Nov’16). Average daily traded volumes also came down significantly by 39.35%WoW to just 109mn shares with 1) TRG (39.22mn shares), 2) ANL (35.40mn shares), 3) SSGC (18.46mn shares), 4) BOP (14.16mn shares) and 5) ASL (13.19mn shares) leading the board. Key news flows during the week included: 1) through a regulatory filing, HBL notified that the bank has received a notice from the New York State Department of Financial Services (DFS) in terms of which DFS seeks to impose a sizeble civil monetary penalty of up to US$629,625,000, 2) ECNEC approved PkR124.7bn development projects for power, transportation and health sectors, 3) ECC in its meeting approved, i) allocation of 14.2mmcfd gas from Sofia field to SSGC, ii) marketing of Euro-IV and Euro-V HSD, iii) reallocation of of up to 130/25mmcfd gas from OGDCL’s KPD/MOL’s Makori East field to SSGC and SNGP, 4) National Tariff Commission decided to impose definitive anti-dumping duty ranging from 3.25-11.35% on polyester filament yarn imported from China and Malaysia and 5) OGRA proposed increase in the price of HSD/MOGAS/kerosene by PkR2.24/PkR0.7/15/ltr for the Sep’17. Performance leaders during the week were: 1) MLCF (+5.3%WoW), 2) CHCC (+1.1%WoW), 3) FFBL (+0.9%WoW), 4) ABL (+0.6%WoW) and 5) INDU (+0.6WoW); while laggards included: 1) HBL (-18.5%WoW), 2) NBP (-6.5%WoW), 3) NML (-5.8%WoW), 4) PSMC (-5.6%WoW) and 5) FATIMA (-4.7%WoW). Foreign participation continued its negative trend with US$14.28mn outflows compared to US$9.77mn in the preceding week.
Co. is engaged in the production and sale of Ordinary Portland and Sulphate Resistant Cements.
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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