AKD STOCK SMART
Weekly Review
Politics once again took the center stage deteriorating market sentiment as the ousted PM Nawaz Sharif returned from London to appear before Accountability Court. Also, NAB indicted the Finance Minister Ishaq Dar in assets reference case further fueling negative sentiments. In this backdrop, KSE-100 index lost 341pts (-0.8%WoW) to end the week at 42409pts. Avg. daily trading activity during the week also came down 9.03%WoW to 146.3mn shares, where volume leaders were: 1) KEL (97.05mn shares), 2) BOP (45.57mn shares), 3) WTL (32.39mn shares), 4) TRG (31.10mn Shares) and 5) KOSM (27.5mn shares). Key news flows impacting the market during the week included: 1) ECC approving the PkR5bn sugar export subsidy on 500K tons export quota allotted earlier, 2) ADB maintaining its growth forecast for Pakistan’s economy at 5.5%YoY while highlighting external sector and rising debt risks, 3) Supreme Court dismissing the NBP’s appeal against Lahore High Court’s (LHC) judgment on employees’ pension case, 4) ADB approving the US$800mn multi-tranche financing facility for Pakistan to rehabilitate and upgrade the road networks and 5) GoP total external assistance during 2MFY18 amounting to US$709mn. Performance wise, top gainers during the week included: 1) FATIMA (+13.88%WoW), 2) KEL (+12.28%WoW), 3) POL (+6.55%WoW), 4) FFC (+5.91%WoW) and 5) PTC (+4.17%WoW), while major losers were: 1) NBP (-15.32%WoW), 2) GWLC (-7.62%WoW), 3) FCCL (-5.19%WoW), 4) MLCF (-4.69%WoW) and 5) LUCK (-4.59%WoW). Foreign interest remained intact during the week with net inflows of US$0.52mn against net inflow of US$0.377mn in the last week.
Outlook
Wi Key developments over NAB’s references against former PM Nawaz Sharif and his children in the Accountability Court may continue to hold sentiment in the bearish territory. However, strong rebound in oil (Arab Light/Brent +12.4%/9% MTD) and int’l urea prices (up 60% since low of US$163/ton in Jun'17) can keep the respective sectors in limelight.
Pak Suzuki Motor is engaged in assembling, progressive manufacturing and marketing of Suzuki cars, pickups, vans, and 4X4 vehicles. Co.'s product models include Baleno, Margalla, Mehran, Kyber, Ravi Pickup, Bolan Van and Potohar Jeep.
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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