AKD STOCK SMART
Weekly Review
Amidst the inevitable Rupee devaluation against the US dollar and continued political uncertainty arising from judicial developments, the KSE-100 index weakened 1.11%WoW closing at 38,646pts with average daily volumes traded decreasing to 135mn shares (down 4.39%WoW). Market sentiment cratered under a ‘controlled’ devaluation exercise by the SBP which saw the PkR lose 4.6%WoW against the Greenback, leading participants to raise concerns over the knock-on effects on the import bill, inflation and consumer confidence. Key news flows impacting the market during the week included: 1) Supreme Court ruling in favor of PTI Chairman Imran Khan in a disqualification case, while disqualifying PTI General Secretary Jahangir Khan Tareen, 2) Supreme Court dismissing NAB’s appeal to reopen the Hudaibiya Paper Mills case, 3) NA speaker hinting towards early dissolution of assemblies, while later refuted by PM Shahid Khaqan Abbasi, 4) trade deficit treading upward in Nov’17, with 5MFY18 deficit now standing at US$15.03bn (up 29%YoY) and 5) long steel manufacturers raising re-bars prices by ~PkR5000/ton. Gainers (of AKD Universe) during the week were: 1) EFERT (8.39%WoW), 2) KAPCO (5.72%WoW), 3) ENGRO (3.26%WoW), 4) PPL (2.60%WoW) and 5) OGDC (1.85%WoW) while the laggards were: 1) HASCOL (-12.05%WoW), 2) LUCK (-7.78%WoW), 3) PIOC (-7.73%WoW), 4) FCCL (-6.67%WoW) and 5) APL (-6.54%WoW). Top 5 volume leaders included: 1) TRG (67.23mn), 2) KEL (51.39mn), 3) PAEL (36.25mn), 4) WTL (30.54mn) and 5) ANL (22.81mn). During the week, foreign outflow of US$8.87mn was recorded against a net inflow of US$1.04mn last week.
Outlook
Apex court judgments on two key cases offering win-win situation to both PML (N) and PTI point towards relatively stable political environment going forward. This along with much-awaited devaluation exercise attracting higher foreign interest and encouraging participation by individuals and mutual funds at current levels give weight to wider consolidation as we approach the year-end window-dressing period.
Oil and Gas Development Company is a petroleum exploration and production (E&P) company in the Pakistan oil and gas sector. Co.'s principal activity is to explore, develop, produce and sell oil and gas resources and related activities. Co. also manufactures Gas, Liquefied Petroleum Gas, Crude Oil, and Sulphur. Co.'s major fields contributing in the aforesaid production of crude oil include Nashpa, Kunnar/KPD, Pasakhi, Sinjhoro and Rajian and for gas include Qadirpur, Uch, KPD, Nashpa and Dakhni. Co. carries out exploration and development activities on its own as well as in joint ventures with other oil companies.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.