Pakistan Strategy - Index on its way to challenge May’17 High!, (AKD Daily, Nov 01, 2023)
KSE100 Index closed on a positive note, with the index gaining a cumulative of 1,230pts to end at 51,920pts, a gain of 12.3%MoM.
The KSE-100 is well on its way to challenge its highest level attained in May’17 of 53,127pts.
The outgoing month saw the overall market capitalization enhancing by 3.0% in PkR terms and 8.9% in US$ terms. This is on the back of healthy quarterly results’ across the board and local currency maintaining its stability against the US$, closing at PkR281.47/US$.
Close-end mutual funds, automobile assemblers and refinery sector remained in the limelight during the month.
With regards to the FIPI movement, E&P and Cement remained the favorites of foreigners with net buy of US$2.3/1.4mn, while Others and Banks remained the least favorite with a monthly outflow of US$8.0/5.5mn.
Going forward, eyes remain on the next IMF review due early Nov’23, and confirmation on the election schedule to maintain stability in investors’ sentiments.
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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