Report
Hamza Kamal ...
  • Shahrukh Saleem
EUR 8.90 For Business Accounts Only

Pakistan Strategy_Feb’21_Market review and outlook, (AKD Daily, Mar 01, 2021)

AKD Daily

Feb’21: Market review and outlook

  • Three month rally came to an end in Feb’21 with KSE-100 index closing at 45,865.02pts, down 1.1%MoM. In the process, FYTD/CYTD returns stood at 33.2/4.8% while avg. volumes stood at 621.7mn shares in Feb’21 compared to FYTD/CYTD avg. of 489.1mn/622.7mn shares.
  • Within main board sectors, Cement sector gained 12.3%MoM as above expected results, together with upbeat demand outlook as winter season subsides brought investor interests, followed by all-season techs (+7.1%MoM) and E&Ps (+1.0% as oil prices gained 19.0%MoM).
  • Flow wise, Individuals and companies were the only players to be on the buying side with net buy of US$33.7mn and US$22.9mn respectively, absorbing sell-off mainly from foreign corporates (net sell:US$18.25mn), Insurance (net sell: US$18.0mn, and Banks (net sell: US$12.2mn).
  • We maintain our optimistic medium to long term outlook based on undemanding valuations and  continue advocating for positions in Cyclicals (Cements, Steel due to pickup in demand as winter season recedes), Power and OMCs (read: PSO on circular debt resolution). At the same time, we also like Banks on dividend resumption and undemanding valuations.​

AKD Research

Provider
AKD Securities Limited
AKD Securities Limited

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.

Analysts
Hamza Kamal

Shahrukh Saleem

Other Reports from AKD Securities Limited

ResearchPool Subscriptions

Get the most out of your insights

Get in touch