Pakistan Strategy - Sep'23 - Index up 2.7%MoM, however ADTV in decline, (AKD Daily, Oct 02, 2023)
AKD Daily
Pakistan Strategy - Sep’23 - Index up 2.7%MoM, however ADTV in decline
- Market remained lackluster throughout the month of Sept’23, with the average traded volumes of the KSE100 index halving to ~76mn shares, compared to 165mn shares in the previous month. Meanwhile, KSE100 index witnessed an increase of 1,230 points to close at 46,233 pts, an increase of 2.7%MoM.
- Country recorded a CAD of US$160mn in Aug’23, a decline from the US$775mn deficit in the preceding month.
- Segment-wise, the transport sector took the spotlight with a gain of 17.3%MoM. This surge was mainly attributable to a remarkable 51%/22%MoM increases in PIAA and PNSC, with PIA’s gain coming from recent developments related to the restructuring (and possible privatization) for the national flag carrier
- Going forward, the market's performance is expected to be significantly influenced by the upcoming IMF review scheduled in November. While the expected timeline for elections is discussed, providing exact dates for the elections would be a positive development.
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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