Pakistan Strategy - FY23 Market Review & Outlook, (AKD Daily, Jul 04, 2023)
AKD Daily
Pakistan Strategy - FY23 Market Review & Outlook
- KSE100 Index closed relatively flat during FY23, with the index falling cumulatively by 179ppts to end at 41,453 points, decline of 0.21%YoY during the period.
- The Economy remained in a precarious situation throughout the fiscal year with several key macroeconomic indicators reaching record levels e.g. policy rate (22% in June’23), CPI (38%YoY in May’23) an LSM (↓24.5%YoY in Mar’23, 3 year low).
- Major commodities have significantly declined from their peak levels in May/June’22, which were a result of the ruckus in Eastern Europe, as well as the recovery of major economies from the low points caused by the COVID-19 pandemic
- Going forward, a successful follow through on IMF’s standby arrangement alongside much sought after political stability (announcement of election dates) will determine the market’s fate.
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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