Stock Smart Weekly
Weekly Review
In the backdrop of a relatively calm political environment, positive steps taken by the regulator taking a soft stance (permission of foreign participation in PSX share, approval of category B scrips under MTS) have helped in improving the market sentiments. Also, aggressive buying by the mutual funds (net buy: US$13.64mn) lent support to the market. Closing all the trading sessions on a positive note, the benchmark KSE-100 index gained 2.54%WoW (+1,001pts) to close the week at 40,471pts. In tandem trading volume also rose 55.24%WoW to reach at 214.52mn, with 1) WTL (85.28mn shares), 2) TRG (53.64mn shares), 3) KEL (39.85mn shares), 4) PAEL (33.21mn shares) and 5) DSL (32.62mn shares) leading the board. Key news flows impacting the market during the week included: 1) ECC approving the FBR’s proposal to reduce RD on certain raw material items and allowing export of wheat (3m tons) and sugar (0.3m tons), 2) SECP reportedly making amendments in MTS regulations, which would allow category B securities available for purchase on credit, 3) Fed gov’t restricting import of furnace oil in a bid to extend relief to the domestic refining sector, 4) GoP releasing another PkR2.5bn under the PM’s export package, where total released refunds now stand at PkR16.5bn against total claims of PkR23.5bn, and 5) As per SBP, profit repatriation soaring to US$935mn (+29%YoY) in 5MFY18. Performance leaders during the week were: 1) CHCC (+10.8%WoW), 2) PIOC (+14.89%WoW), 3) GWLC (+14.05%WoW), 4) FCCL (+10.86%WoW) and 5) DGKC (+10.36%WoW); while laggards included: 1) HBL (-1.75%WoW), 2) NCL (-1.49%WoW), 3) ENGRO (-0.94%WoW), 3) KEL (-0.63%WoW) and 5) MLCF (-0.48%WoW). Foreigners bought US$8.9mn worth of equities compared to net outflow of US$5.4mn in the preceding week.
Outlook
With the start of New Year, ‘January Effect’ is expected to dominate the market going forward, where we see the market sustaining the recent bullish momentum especially when valuations stand at attractive level. However, political noise can once again heat up if opposition parties led by Pakistan Awami Tehreek (PAT) opt for another protest in the Model Town case.
Worldcall Telecom Limited is engaged in providing wireless local loop (WLL) and long distance international (LDI) services in Pakistan, and re-broadcasting international/national satellite/terrestrial wireless and cable television and radio signals, as well as interactive communication and to establish, maintain and operate the licensed telephony services. The Company's products/services include data, entertainment, voice and long distance international. The Company's data services include WorldCall Wireless Broadband and WorldCall Cable Broadband. The Company's entertainment services include WorldCall Digital television (TV), WorldCall Cable TV and WorldCall Video on Demand. The Company's voice service provides WorldCall Wireless Phone, which offers hassle-free wireless communication. The Company's LDI service provides voice and data solutions for national and international markets catering both to wholesale and retail segments.
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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