Pakistan Strategy - Aug'23 Market review and outlook, (AKD Daily, Sep 01, 2023)
AKD Daily
Pakistan Strategy - Aug’23 Market review and outlook
- KSE100 index faced downward pressure throughout the month of August, witnessing a correction of 3,032pts to conclude at 45,002 points, marking a 6.3%MoM drop. KSE100 daily traded volume remains lackluster averaging 165mn shares vs. average of 186mn shares in the previous month, signifying a 12%MoM decline.
- The current account also reported a deficit after a 4-month streak of surplus, recording a deficit of US$809mn, primarily due to the easing imports.
- Sector-wise, Leasing and auto parts sector took the spotlight with a total gain of 10.6%/4.7% MoM. On the flip side, OMC sector led the downward trend with a cumulative monthly loss of 15.1%MoM.
- Moving ahead, market hinges on outcomes of 1) upcoming MPC meeting on Sep-14, 2) next review with IMF in Oct and 3) developments related to energy reforms.
AKD Research
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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