AKD STOCK SMART
Baseless trading as a result of uncertain outcomes from political enquiries, HBL's tussle with US regulators and perceived economic weakness, kept the KSE-100 index up marginally (+0.47%WoW) to close at 41,401pts. Key news flows included: 1) CPI based inflation clocked in at 3.41%YoY in Aug'17 (CY17 average inflation now stands at 4.1%YoY), 2) in an out of court settlement, HBL has agreed with NYDFS to pay fine of US$225mn against violations of state regulatory provisions with the required penalty paid within 14 days of consent order execution, 3) Pakistan's total foreign exchange reserves increased by 1.93%WoW (US$386mn) to US$20.387bn during the week ended Aug 31'17 (import cover of 4.3 months), 4) OGRA has officially notified revised well head gas price for PPL's flagship field "Sui", where the new price is PkR286/mmbtu (previously at PkR149/mmbtu), higher by ~92% and, 5) the Trump administration has reportedly held back previously promised military aid of US$255mn to Pakistan by attaching new conditions. Top performers for the week were: 1) ASTL (+5.42%WoW), 2) EFOODS (+5.40%WoW), 3) OGDC (+4.83%WoW), 4) PPL (+4.62%WoW), whereas laggards included: 1) HBL (-9.61%WoW), 2) HASCOL (-7.19%WoW), 3) PIOC (-4.79%WoW), 4) CHCC (-4.68%WoW). Volumes tapered -19.8%WoW with average daily turnover of 136.05mn shares, with leaders being: 1) TRG (59.67mn shares), 2) ANL (35.96mn shares), 3) ASL (24.81mn shares) and 4) BOP (23.06mn shares).
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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