Pakistan Commodities: CY17 Review
Commodities continued their uptrend in CY17 with bullish sentiment prevailing across all major commodities. The benchmark TRJ commodity index firmed up around 184.2 points (+2.0%YoY) led by Oil (Arab Lite/Brent +29.5/+23.0%YoY on extension in production cut agreements), Steel (+31%/+54%YoY for flat/long on production cuts and demand stabilization), Coal (+32.5%YoY on supply tightening from China), Dairy (+32%YoY on EU intervention price and limited exports), Cotton (+13%YoY on higher consumption) and Urea (flat. The exception in this regard was Sugar with FAO sugar price index down 11.2%YoY reflecting a bumper harvest in Brazil (the world's largest producer) coupled with production increase in India and Thailand. Going forward, prices for most commodities, including Oil, are expected to rise, carrying on the momentum from CY17 as markets rebalance. That said, raising US oil output (currently standing at its 23yr high) alongwith any increase in global stock levels as a consequence of softening demand can throw a spanner in the works.
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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