AKD STOCK SMART
Weekly Review
Despite prevailing external account weakness and relatively lackluster results, strong performance by Oil & Gas sector triggered by oil price momentum (Brent : +1.5%WoW) helped the KSE-100 index to sustain its last week level to close at 41,064pts (-0.1%WoW, -41pts). Additionally, rebalancing-led foreign selling was matched by mutual funds, making a relief rally during the latter part of the outgoing week. Average daily traded volumes declined –12.75%WoW to 117.4mn shares with 1) PAEL (49.81mn), 2) TRG (41.76mn), 3) ANL (27.04mn), 4) SNGP (26.76mn) and 5) WTL (25.1mn) leading the board. Key news flows during the week were: 1) China vowed to continue its support for the CPEC projects irrespective of the change in federal gov’t, 2) ADB approved US$800mn Multi-Tranche Financing Facility for CAREC road corridor development in Pakistan, 3) GoP increased the petroleum prices for the month of Nov’17 with MOGAS/HSD increasing by PkR2.49/ltr/5.19/ltr, 4) the country’s total reserves decreased 0.3%WoW (US$94.9mn) to US$19.84bn during the last week ended October 27’17 and 5) CPI for Oct’17 clocked in at +3.8%YoY. Major performance leaders (AKD Universe) were: 1) FATIMA (+9.68%WoW), 2) PPL (+7.92%WoW), 3) OGDC (+7.45%WoW), 4) POL (+5.65%WoW) and 5) NML (+4.74%WoW) while the laggards (AKD Universe) included: 1) GWLC (-11.11%WoW), 2) CHCC (-6.53%WoW), 3) PIOC (-5.79%WoW), 4) NCL (-5.54%WoW) and 5) EFOODS (-5.01%WoW). Foreign participation witnessed further deterioration due to the rebalancing with FIPI at net selling of US$30.73mn vs. US$5.34mn last week.
Outlook
With results season coming to an end, political climate and concerns over external sector can once again cloud the market sentiment. However, Oil &Gas sector can remain in the limelight on the back of rising international oil prices due to the geopolitical tensions in the Kurd region and continued adherence to the OPEC cuts. Moreover, MSCI Inc. is scheduled to conduct its semi-annual review on Nov 13’17, where expected revision in the list can trigger scrip specific performance accordingly.
Fauji Fertilizer is engaged in the manufacturing, purchasing and marketing of fertilizers including the investment in other fertilizer manufacturing operations. As of Dec 31 2004, Co. had a design capacity of 2,455,000 tonnes for urea production and 445,000 tonnes for DAP production.
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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