Pakistan Market_April’18 Review & Outlook
After touching a high of 1,077 points, the market reversed almost all of its gains, ending flat during the month of Apr'18. The benchmark index was unable to sustain the rally despite rising international oil prices, anticipation of a populist budget particularly with regards to taxation and amnesty scheme announcement. Additionally, result season also failed to catalyze market performance with no major positive surprises (barring OMCs and certain banking names). Performance at the mainboard remained dismal with majority of the key sectors ending in red - Cements (down 5.3%MoM on price reduction, anticipated increase in FED in budget FY19), Banks (down 3.2%MoM on weak 1QCY18 results) and Textiles (on news pertaining to possible conclusion of export incentives before budget FY19) losing out the most. Post budget we see investor focus sharply shifting towards politics (verdict on graft references against the leadership of the ruling government). Additionally, developments on the macro front should also be keenly tracked where materialization of potential FX inflows (newsflow suggesting US$3bn inflows) in the backdrop of weak external account metrics can be somewhat relieving for the market.
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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