Pakistan Market_May’18 Review & Outlook
The month of May'18 saw an extension of the prevailing bearish momentum at the bourse with the index losing 5.8%MoM. Looming macro headwinds (vulnerabilities on the external front) amid lingering political uncertainty continued to pressure market with investors taking discreet notice of positive market led developments (a populist budget, higher oil prices). Interest rate hike in May’18 MPS also failed to provide any material respite with growth concerns in index heavy banks taking centre stage. Volumes remained visibly low - indicating sheer lack of interest from both institutional and individual investors while shorter trading hours in Ramadan further inhibited trading activity. Sector wise performance remained subpar with none of the key sectors making it in green. Jun’18 is going to be another eventful month, ahead of elections 2018, with politics dominating the headlines. In this regard, key developments to track include: 1) Accountability Court’s deadline to decide on the corruption references against Sharif family on Jun 9’18, 2) setting up of the provincial caretaker governments, 3) pending litigation surrounding legitimacy of delimitation bill, and 4) Balochistan Assembly passing a bill to delay the polls. Additionally, decision pertaining to Pakistan’s inclusion in FATF blacklist/greylist (upcoming plenary meeting on June 24’18) also hangs in the balance, creating further pressure.
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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