Brokerage

Karachi, March 27, 2015 (PPI-OT): Fatima Fertilizer (FATIMA) announced NPAT of PkR9.3bn (EPS: PkR4.41) in CY14, registering an increase of 15%YoY as compared to NPAT of PkR8.0bn (EPS: PkR3.82) in the previous year. In 4QCY14 alone, the company recorded NPAT of PkR2.8bn (EPS: PkR1.34), down 7%QoQ against NPAT of PkR3.03bn (EPS: PkR1.45) in 3QCY14 as ...

Karachi, March 27, 2015 (PPI-OT): Emotional Extremes Short‐Term: Yesterday’s high volume candle reflects emotional extremes at deeply oversold daily readings. This indicates that the first leg of correction (wave A) has reached selling climax and a reversal is due. AKD Securities Limited expects market registering a relief rally towards 31,325 and 32,038 levels in wave ...

Karachi, March 25, 2015 (PPI-OT): Pakistan’s sovereign credit ratings, commencing in 1994 with a ‘B+’ from S and P and a ‘Ba3’ rating from Moody’s, have gradually treaded down to B- and Caa1, respectively, at present. Moody’s last downgraded Pakistan’s rating in Jul’12 and while raised its outlook from ‘negative’ to ‘stable’ in Jul’14, it ...

Karachi, March 24, 2015 (PPI-OT): In line with AKD Securities Limited’s expectations, the SBP (State Bank of Pakistan) in its latest MPS (Monetary Policy Statement) has reduced the policy rate by 50bps to 8%. The SBP’s decision to continue with its on-going monetary easing stance received support from improving macro-economic indicators such as: 1) considerable ...

Karachi, March 24, 2015 (PPI-OT): Measured rate cut; room for further easing remains A measured 50bp cut in discount rate (DR) announced State Bank of Pakistan continued its easing campaign by cutting benchmark policy rate on 21 st Mar’15 by another 50bp to 13-yr low of 8%. Cumulatively, the central bank has slashed policy rate ...

Karachi, March 18, 2015 (PPI-OT): Backed by the Govt decision to reduce its GST (General Sales Tax) rate on petroleum products (barring HSD) in order to maintain prices coupled with the high base effect of CPI based inflation, AKD Securities Limited estimates headline inflation for Mar’15 to read at ~2.52%YoY (+ve 0.25%MoM). This compares favourably ...

Karachi, March 18, 2015 (PPI-OT): KSE-100: Support held; bounce could be seen till 20DMA The index slid below its support zone of 32,250-32,400 but then managed to bounce back from that area and gave a closing above that level, suggesting that it is still holding on to its support. Both the trend line resistance and ...