Pakistan Commodities: Slow September with ‘spikes’ smoothening,(AKD Daily, Oct 12, 2020)
- Pairing back gains made over late summer period, commodity prices slowed as unprecedented “spike” in high frequency industrial and trade indicators normalized, while the ramifications of global COVID-19 restrictions imposed (in some cases re-imposed) on employment persist in pulling commodity markets lower (TRJ Index down 4.7%MoM, -21.4%CYTD)
- Continued contraction in industrial output in major emerging markets (India, Brazil) and EU countries fed into weak energy price dynamics, with crude benchmarks pairing back minor supply linked gains made in Aug’20 during the month (Brent/Arab Light price fell 11/14%MoM) whereas Coal jumped on buying interest from China and tight supply
- Amongst major commodity classes, soft commodities including Cotton, FAO food price index and related agri-chemicals continued to climb higher, largely from trade tensions, supply constraints in emerging markets and follow-on impacts on farming supply chains from COVID-19 closures.
- At home, a contained international commodity prices scenario plays into tamed external/trade expectations. Despite this, increasing food prices continue to instigate inflation, in-turn hurting disposable incomes. Possible lessons to be learnt here from international commodity markets include shocks from COVID-19 disruptions on internal agri-supply chains, resulting in increased reliance on imports pushing prices higher.
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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