AKD STOCK SMART
Weekly Review
Recouping lost ground despite a fluid political landscape and weak news flows during the week, the KSE-100 index climbed 0.91%WoW closing at 41,436pts. Additionally excitement over strong automotive sales (sales numbers for October'17 expected on Monday 13th) kept OEMs in the limelight (HCAR +9.7%WoW, INDU +4.5%WoW) whereas upward momentum in crude oil prices kept refiners under pressure (ATRL -3.4%WoW, NRL -2.5%WoW). On the geopolitical front, the developing political situation in Saudi Arabia raised blowback concerns on an already unstable region, spilling over to support global crude benchmarks (Brent higher 3.1%WoW). News flows during the week included: 1) OGRA has proposed the floating of bids for building a 430km long oil pipeline from Sheikhupura to Peshawar, 2) ENGRO is planning to establish its second LNG terminal of 600mmcfd, expected to become operational by early 2019 with consortium partners Shell exploration BV, Fatima Group, and Swiss based Gunvor Group, 3) According to the Cement industry association spokesman, the domestic manufacturers witnessed highest ever capacity utilization of 93% in 1QFY18, 4) WB raised alarms for Pakistan's economy and predicted that the inflation number for the FY18-19 would rise up to 6%, however, the WB talked about the contingent outlook on maintaining macroeconomic stability as well as steady progress in implementing the main pillars of the GoP's medium term reform program, and 5) As per recent data released by SBP, country's total foreign exchange reserves surged 0.35%WoW (US$69mn) to US$19.91bn during the last week ended Nov 03'17. Volume leaders at the bourse were: 1) PAEL (49.81mn), 2) JPGL (41.86mn), 3) SSGC (38.86mn), 4) ANL (27.37mn) and 5) SNGP (25.74mn) with major performance leaders (AKD Universe) being: 1) HASCOL (5.51%WoW), 2) NML (4.08%WoW), 3) ABL (3.96%WoW), 4) PSMC (3.91%WoW) and 5) ASTL (3.72%WoW). The laggards (AKD Universe) included: 1) NCL (-3.74%WoW), 2) FATIMA (-3.48%), 3) PTC (-2.04%WoW), 4) UBL (-1.06%WoW) and 5) FFBL (-0.86%WoW). Foreign participation witnessed further deterioration net selling of US$1.78mn vs. US$ US$30.73mn last week
Outlook
With November 13th (11:00pm CET, being 3:00AM Tuesday) MSCI semi-annual review; Banks, Cements and E&P sectors are expected to witness increased trading activity. Approaching the year-end, we expect mutual funds and individuals to raise participation levels, re-aligning portfolios for the year ahead.
Nishat Mills is engaged in the business of textile manufacturing and of spinning, combing, weaving, bleaching, dyeing, printing, stitching, buying, selling and otherwise dealing in yarn, linen, cloth and other goods and fabrics made from raw cotton, synthetic fiber and cloth, and to generate, accumulated, distribute and supply electricity.
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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