Pakistan Strategy - Feb’24 Market Review & Outlook , (AKD Daily, Mar 01, 2024)
- The KSE-100 index concluded the month with a modest increase of 2,599pts or 4.2%MoM, despite experiencing a significant dip to as low as 59,873 points during the month.
- Additionally, major themes during the month were the noise with regards to the legitimacy of the general elections from both domestic and international outlets, where-in the PTI’s chief wrote a letter to the IMF asking to investigate the poll’s results.
- The Pharmaceutical sector led the way during the month with the sector returning ~10.3%MoM over the course of Feb’24—making it one of the best performing sectors during the period under review.
- Future trajectory of the market is anticipated to hinge on forthcoming inflation data and SBP's policy decisions regarding it.
- Additionally, the completion of the second review under the current IMF SBA program remains crucial, as it would offer a financial cushion against the upcoming US$1.0bn Eurobond payment scheduled for April'15th.
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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