Investors

Pakistan Stock Exchange has embarked on a Financial Literacy Initiative to educate potential investors about investment basics, financial planning, and stock market investments. The Initiative seeks to educate the general public about defining their investment objectives, what to expect from the stock market, begin investing in the stock market, securing their brokerage account, dos & don’ts of investing in the stock market, and considerations while investing. The Initiative also seeks to educate the general public about the operational, strategic and regulatory developments taking place at PSX.

For any further information and queries regarding the Financial Literacy Initiative or for arrangement of Financial Literacy sessions for your organization/ institution, submit your query by clicking below.

Enclosures (for individuals):

  • Attested copies of National Identity Card of the applicant.
  • Attested copies of National Identity Card of the Joint Holders and or Nominee(s) (if applicable)
  • Attested copies of passports of the applicant, Joint Holders and or Nominee(s) (in case of non-residents)
  • Copy of the letter of authorization from the Account Holder(s) of the person authorized to trade in my/our accounts (if other than the account holder).
  • A list of Transaction fee, Commission to be charged by the Broker and other CDC charges to be levied.

Enclosures (for corporate entities):

  • Certified true copy of Board Resolution (specimen provided as per Annexure-A below).
  • Certified true copies of Memorandum & Articles of Association.
  • List of authorized signatories.
  • List of nominated persons allowed placing orders.

You can invest and trade in the stock market through TREC (Trading Rights Entitlement Certificate) holders/ brokerage firms recognised by PSX and licensed by the Securities & Exchange Commission of Pakistan (SECP).

You must shortlist a number of brokerage firms based on your individual preference. You must talk to the shortlisted firms and make your final selection based on your requirements. You may select your brokerage firm depending on:

  • Ease of communication & understanding of your defined investment objectives.
  • Availability of research material.
  • Availability of online trading facility.
  • Provision of trade confirmations.
  • Brokerage charges levied.
  • Physical proximity to your work-place or residence.

Why Save & Invest:

You want to live your life and follow your dreams. We all have a list of things that we want to achieve in our lives which require money to attain them. These may include goals for the near future like:

  • Planning the next vacation
  • Buying a home theater
  • Planning a destination wedding
  • Renovating your house
  • Upgrading your car

There is also a list of things you have to do in the distant future. These life goals may include:

  • Children’s college and university education
  • Investment for retirement
  • Entrepreneurial set-up
  • Buying your own house

All these life goals are achievable if you plan well, save early and invest prudently

While planning our investments we must also account for the unforeseen and emergency situations we may be faced with. Life is unpredictable and we can come across any situation like:

  • Severe/ terminal disease
  • Accidents
  • Loss of employment or business downturn

All the above need planning our investments. In order to invest, we begin with savings. We must invest our savings to ensure:

  • We beat the effects of inflation which eats up the value of our money.
  • We multiply/ increase the value of our money saved instead of leaving it idle

If you have thought of all of the above, Congratulations - You are ready to save and invest!

BEGIN SAVING:

You can start saving as early as possible. Perhaps a chunk of your salary should be saved every month until you have enough to invest; a rule of thumb is to save 20% of your income. At the same time, if you have family support or other sources of income, a monthly addition of these funds can definitely help you save more until you have enough funds to start investing.

BEGIN INVESTING:

There are many savings & investment plans and products available in the market to choose from. If you keep your money in a bank account, you will get nominal returns on your savings. However, you are bound to get higher returns and cushion yourself against risk if you can invest your savings in a diversified portfolio of different investment vehicles such as:

  • Bonds
  • Treasury Bills (T-Bills)
  • Term Finance Certificates (TFCs)
  • Mutual Funds
  • Stocks

WHERE TO INVEST:

It is always a good idea to invest your money where you get good returns.

The stock market is one such avenue where there is good upside potential, historically, and where the returns have been higher than those from other investment avenues. Investing for the long term is a better option than investing for the short term in the stock market. It will not only allow you to compound your earnings but will also enable you to earn dividends which can be re-invested in the stock market, thereby increasing your earnings. So you must focus on compounding your earnings, reinvesting your dividends, and achieving capital gain.

WHAT THE STOCK MARKET CAN DO FOR YOU:

By purchasing shares of the selected companies, you build your portfolio of stock investments. This portfolio is formed and selected on the basis of:

  • Company
  • Sector
  • Returns you are expecting
  • Risk capacity (how much can you invest in spite of market volatility)
  • Risk tolerance (how much market downturn and volatility can you sustain)
  • Payouts (dividends or bonus shares)
  • Any other considerations you may have according to your stock investment preferences

By purchasing the shares of a company, you become a shareholder of that company and are entitled to dividends and other payouts such as bonus or right shares issued by the said company, along with the advantage you can have of capital gain from increase in price of the shares.

If you have decided to invest in the stock market, then it is a decision well worth taking. Consider this that Pakistan Stock Exchange has performed better over the last several years, above and beyond other investment vehicles available in the country

Returns earned from the Stock Exchange as compared to other asset classes over the ten year period, Mar 2010 to Mar 2019:

KSE 100 Index stocks provided compounded annual returns of 15.13%* over the last 15 years Dec 2003 to Dec 2018. These figures compare fairly well with other avenues of investment in Pakistan.

The fact that the Pakistan Stock Exchange has given good returns historically, it is safe to say that investment in stocks in Pakistan Stock Exchange may well be worthwhile for the long run

HOW THE STOCK MARKET WORKS:

The stock market is a place where companies list themselves to make their shares available to a broad range of investors to purchase these shares. You, as an investor, have the option to choose from multiple stocks of different companies to buy in order to build your investment portfolio. The share prices of the shares listed on the Stock Exchange fluctuate according to the buy & sell transactions taking place.

WHY & HOW ARE SHARES OF COMPANIES LISTED:

PRIMARY AND SECONDARY MARKET:

The main purpose of the stock market is raising of capital through investment in shares of listed companies. Listed companies are those which issue shares in the stock market to raise capital. This is done either through an Initial Public Offering or Rights issue.

An IPO or Initial Public Offering (Primary market) is the issuance of shares by a company in the stock market in order that its shares are purchased by the general public. Once the IPO has taken place, the shares continue to be traded in the stock market (Secondary market), changing hands between buyers and sellers.

Another way a company raises its capital is by issuing right shares at a certain price to existing shareholders. A shareholder interested in purchasing the right shares may do so if he deems it fit.

PSX & ITS LISTED COMPANIES:

Pakistan Stock Exchange consists of a list of 546 companies in 35 different sectors or industries. The total Market Capitalisation (volume of outstanding shares times share price) was Rs 7.692 Tn as of Dec 31, 2018.

WHAT IS AN INDEX & WHAT IS ITS PURPOSE:

Index is a grouping of selected companies’ stocks according to certain financial parameters in order to measure the performance of a section of the stock market.

INDICES LISTED ON PSX:

There are seven Indices listed on PSX which are:

  • KSE 100 Index
  • KSE All Share Index
  • KSE 30 Index
  • PSX-KMI All Shares Index
  • KMI 30 Index
  • BKTI (Tradable Banks Index)
  • OGTI (Tradable Oil & Gas Index)

SHARIAH COMPLIANT INVESTMENTS:

For those investors who want to invest in Shariah compliant companies, there are listed companies on the Stock Exchange which are Shariah compliant. The PSX-KMI All Shares Index & the KMI 30 Index (KMI: KSE-Meezan Index) represent listed companies which are Shariah compliant. There are more than 200 companies listed on the PSX-KMI All Shares Index. The PSX-KMI All Shares Index & the KMI 30 Index were developed by PSX and Meezan Bank Limited. The listed companies’ Shariah compliance status is based on certain technical parameters and specifications as approved by a Shariah Board. In case of KMI 30 Index, it was approved by Shariah Supervisory Board of Meezan Bank Ltd., chaired by eminent Shariah scholar Justice (Retd.) Mufti Muhammad Taqi Usmani.

BASIC GUIDELINES FOR STOCK INVESTMENT

DEFINE YOUR INVESTMENT OBJECTIVES

A basic guideline is to understand what you really want from your stock investment

  • Do you want to invest for the short term (1-3 years), medium term (3-5 years) or for the long term (5 years or more)?
  • Do you want to invest for dividends or for capital gain or for both?
  • How much risk can you take in terms of market downturns?

These are the basic questions you must address before investing

Optimally, you may want to invest in stocks for the long term, in order to earn dividends (periodically, through dividend yielding stocks) and for capital growth (gain in share price) over a number of years

YOU SHOULD DIVERSIFY YOUR INVESTMENT

As mentioned earlier, it is important to have a diversified portfolio of investments. You can have a diversified portfolio of stocks in order to cushion the effects of market downturns & volatility and to keep your total investment relatively secure.

You can diversify your portfolio by

  • investing in different products listed on the Stock Exchange such as stocks of listed companies, T-bills and mutual funds
  • Investing in stocks on the basis of different industrial sectors or their market capitalisation
  • Investing in stocks based on shares that give dividends or shares that provide for sufficient capital gain or both
  • Investing in stocks with different risk/ return levels. Some providing greater returns while others providing less returns. At the same time, the risk level of former will be greater than that of the latter

EVALUATE YOUR RISK TOLERANCE AND CAPACITY LEVEL

You must evaluate how much risk you can take/ what is your risk tolerance level if the market takes a downturn.

  • If you are risk-averse, your investment portfolio of stocks should be passive. In this way, you will be assured of receiving a return at market risk level.
  • If you are less risk averse, your investment portfolio can be a combination of stocks which provide for returns at market risk level and above market risk level
  • If you are investing as an aggressive investor, you can invest in stocks which provide for higher returns reflective of higher than market risk

Having a balanced portfolio with different market risk levels of shares and their returns is usually a good combination to build a portfolio of stocks.

You must also understand your risk-taking capacity. How much are you able to invest in the stock market in the face of the downturns and volatility it is undergoing?

STOCK SELECTION – LOOK AT THE PARTICULARS OF LISTED COMPANIES’ STOCKS

In order to select the companies you want to invest into, you may want to look at:

  • The fundamentals and financials of the companies
  • The volume of activity in the stock market
  • The prevailing share price
  • The Price to Earning ratios (P/E)
  • The Earning per Share (EPS)
  • The indices in which the companies are listed (are they blue-chip KSE 100 Index companies?)
  • The annual payouts given by the companies
  • The industry/ sector performance of the companies

The above are some of the guidelines you may want to go by in order to select the companies you want to invest into.

WHEN TO ENTER OR EXIT THE STOCK MARKET

A lot of investors are usually confused when to enter the market and when to exit it. It is a safe proposition to enter the stock market when the Price to Earning ratios are low and the stock market is in an oversold position. Similiarly, it may be profitable to exit the market when the opposite conditions are true. But, as a general rule, it is not when you enter or exit the stock market, but how long you can stay in it.

OPEN YOUR BROKERAGE ACCOUNT:

After the selection of your brokerage firm, you will open a Brokerage Account. You must ensure that the said Account is opened in your name. You will be given a Client Identification Number or an Account Number against this account. Read the terms & conditions prescribed in the Account Opening Form and make sure that they match with the Standard Account Opening Form available on the PSX website.

Subsequently you will open a CDC Sub Account. The CDC Sub Account is the account through which you can actually trade in the stock market.

You are also encouraged to open a CDC Investor Account. This account is opened at the CDC, thereby adding to greater safety and individual custody of your shares.

You must make sure that you are assigned a Unique Identity Number (UIN). It is this number against which all your brokerage accounts and transactions will be recorded.

You will also need to deposit initial funds to purchase shares. Make sure that it is not a cash deposit.

PLACE YOUR ORDER & GET CONFIRMATION:

Once you have decided which companies’ shares to buy, you should place your orders through your stock-broker (or through the online application provided by your brokerage firm)

After placing the order and execution of the same, you should get a Trade Confirmation against your executed order.

SETTLEMENT OF TRANSACTIONS & STOCK MARKET ECOSYSTEM:

The shares purchased or sold are settled (payments made or received) through NCCPL (National Clearing Company of Pakistan Limited). The exchange of shares takes place through the CDC (Central Depository Company Limited). These two organisations and the brokerage firms/ TREC holders form the major part of the ecosystem of PSX.

ONLINE TRADING FACILITY:

Many brokerage firms offer Online Trading facility for its customers. This allows you as an investor to trade by yourself on the Stock Exchange through the online application or software.

BASIC TAXES & CHARGES:

There are several taxes and charges applicable on shares trading at PSX; the basic ones are listed as follows:

CGT (Capital Gains Tax) [Tax Return Filers: 15%, Tax Return Non-filers: 20%], Brokerage Commission [Varies amongst brokerage firms], CVT, IPF, SECP Fee etc.

SEQUENCE OF STEPS TO START INVESTING IN STOCKS:

  • Define your investment objectives.
  • Shortlist a number of registered and licensed brokerage firms based on your preferences.
  • Select a brokerage firm that fits your requirement.
  • Open a Brokerage Account, CDC Sub Account and a CDC Investor Account.
  • Deposit funds in your account through cheque.
  • Select the companies to invest into based on some or all of the parameters mentioned in the Basic Guidelines for Stock Investment, your preferences and discussing the same with your stock-broker. Thereby building your portfolio.
  • Start investing.

To help you safeguard your interest and to avoid complaints against the stock-broker, here are some easy tips:

BE WISE IN SELECTING YOUR BROKERAGE FIRM

  • Before selecting a brokerage firm, visit the offices of a few of them to observe their business practices. Try to gauge the reputation of the brokerage firm by talking to people you meet.
  • Make sure that the brokerage firm and its branch(es) is/ are registered with the Securities & Exchange Commission of Pakistan (SECP).
  • Get clear information on the commission rates and services provided and compare these with those of other brokers.

ACCOUNT OPENING

  • You would need to open a Brokerage Account with the brokerage firm. Subsequently, you would also need to open a CDC Sub Account/ CDC Investor Account. It is important that you open the account(s) in your name.
  • Thoroughly read and understand the terms and conditions of the form of the Brokerage Account. Strike out any inapplicable clause and sign the same. Get the deleted clauses signed by the brokerage firm as well.
  • A CDC Investor Account is more secure than a CDC Sub Account; hence more preferable. You stay in control of your securities because they can only move once you give a transaction order.

STAY WELL DOCUMENTED AT ALL TIMES

  • Obtain your Client Identification Number or Account Number as assigned by the brokerage firm.
  • Obtain your Universal Identification Number or UIN issued by the National Clearing Company of Pakistan Limited (NCCPL).
  • Instruct your stock-broker in writing to always enter the Client Identification Number & UIN in the trading system of the exchange while executing your trades. This would help in setting an audit trail oli trades made on your account.
  • Make sure that all receipts/ confirmations etc. are issued/ made in the name of the brokerage firm on their stationery bearing their name.
  • Obtain periodic statements from your brokerage firm to keep a check on your trade positions and account balances. Also get a periodic Sub-Account statement from the Central Depository Company to verify your securities and their movement.
  • Make sure to receive and check your Trade Confirmations against any stock trades executed, from your brokerage firm.

BE THOROUGH IN TRADING PRACTICES

  • Try to place your trade orders through one person rather than through several, in order to reduce chances of any misunderstanding.
  • Ensure that every time you buy shares, you get them transferred to your CDC Sub Account/ CDC Investor account on the settlement day only.
  • In case of any discrepancies, contact your stock-broker immediately. Don’t make simplistic assumptions or leave things to chance.

TAKE RESPONSIBILITY FOR INVESTMENT DECISIONS

  • Define your investment objectives well and be clear of your risk-tolerance threshold and risk-taking capacity.
  • Know your financial capacity and needs well. Stock prices keep falling and rising. Losing money in a stock trade is not your stock-broker’s responsibility. Stand by your decisions.
  • Avoid discretionary trading accounts whereby the brokerage firm is given the freedom to execute trades for you.

ImageForeign persons and institutions as well as non-resident Pakistanis can invest in securities listed on Pakistan Stock Exchange. They can benefit from potential growth opportunities available through investing in the Exchange, . For non-resident Pakistanis, investing in PSX is specially an attractive venture as it will enable them to benefit from the competitive returns from the Pakistani Capital Market while being stakeholders in their homeland’s economy. For foreign investors, the benefits are equally attractive and competitive as Pakistan’s stock market has consistently performed better than several regional exchanges and other emerging markets over a period of several years

Foreign investors are considered at par with the local investors at PSX and they can acquire 100% of the ownership in all companies except the restricted industries. There is no extra taxation for foreign investors and they are allowed repatriation of profit and investment with the approval of State Bank of Pakistan (SBP).

Foreign persons/ institutions/ non-resident Pakistanis can invest in PSX through Foreign Portfolio Investment (FPI) scheme. This scheme allows investors to invest into various instruments such as equities, government bonds, and TFCs. Under this scheme, it is mandatory for a foreign investor to open a Special Convertible Rupee Account (SCRA). SCRA allows for remittance of funds to & from the account for purchase and sale of securities by the foreign investor.

There are two ways a foreign investor can invest on the Pakistan Stock Exchange:


  • A foreign investor can contact a brokerage firm directly who will facilitate their Brokerage Account/ CDC Sub-Account and their Special Convertible Rupee Account (SCRA). A foreign investor can also directly contact a scheduled bank for opening their SCRA.

  • Another way a foreign investor, particularly Foreign Institutional Investors, can invest on PSX is by approaching Custodial Service Providers in Pakistan (either directly or through Global Custodians & International Broker Dealers)
Bank Bank Al Habib Limited
Represantative Imran khan, Branch Manager - Karachi Main
Phone (+92)21-32412986, Ext:241
Email imran.khan@bankalhabib.com
Address Mackinnons Building, I.I. Chundrigar Road, Karachi
Bank Bank Al Habib Limited
Represantative Shahan Sheikh, Manager Operations - Karachi Main
Phone (+92)21-32412986, Ext:246
Email shahan.sheikh@bankalhabib.com
Address Mackinnons Building, I.I. Chundrigar Road, Karachi
Bank Habib Metropolitan Bank Limited
Represantative Mohammad Hashim, Vice President
Phone (+92)21-32644185, UAN: 111 14 14 14, Ext: 185
Email mohammad.hashim@habibmetro.com
Address HBZ Plaza Branch, I.I. Chundrigar Road, Karachi
Website www.habibmetro.com
Bank Meezan Bank Limited
Represantative Mirza Ayub Baig, Vice President
Phone (+92)21-38103554
Email ayub.baig@meezanbank.com
Address C-25, Estate Avenue, SITE, Karachi, Pakistan
Website www.meezanbank.com
Bank Standard Chartered Bank (Pakistan) Limited
Represantative Waqqas Iftikhar, I&I Sales
Phone (+92)21-32450650
Email waqqas.iftikhar@sc.com
Address 02nd Floor Transaction Banking Standard Chartered Bank Head Office I.I Chundrigar Road Karachi, Pakistan
Bank JS Bank Limited
Represantative Mohammad Yaqoob Sheikhji, Funds Transfer Unit
Phone (+92)21-32621989, (+92)301-8231160
Email yaqoob.sheikhji@jsbl.com
Address 1st Floor, Shaheen Commercial Complex Dr. Ziauddin Ahmed Road, Karachi
Website www.silkbank.com.pk
Bank United Bank Limited
Represantative Faizan Ali, AVP/RM - Financial Institutions, International Division
Phone (+92)21-990332131
Email faizan.ali@ubl.com.pk
Address 8th Floor, State Life Building No.1, I.I. Chundrigar Road, Karachi
Bank United Bank Limited
Represantative Rizwan Ahmed, VP/ Senior Dealer - Treasury Sales
Phone (+92)21-32400425-9
Email rizwan.ahmed@ubl.com.pk
Address 8th Floor, State Life Building No.1, I.I. Chundrigar Road, Karachi
Bank United Bank Limited
Represantative Ali Abbas Halai, VP/ Head Sales – Treasury
Phone (+92)21-32400425
Email ali.halai@ubl.com.pk
Address 8th Floor, State Life Building No.1, I.I. Chundrigar Road, Karachi
Website www.ubldirect.com
Bank Citibank N.A. Pakistan
Represantative Murshed Ali Qureshi, Market Specialist
Phone (+92)21 3259-8257
Email murshed.ali.qureshi@citi.com
Address 01st Floor AWT Plaza I.I Chundrigar Road Karachi, Pakistan
Bank Deutsche Bank
Represantative Hammad Izz-e-Hamid
Phone (+92)21 3520 7340
Email hammad.izz-hamid@db.com
Address Avari Plaza, 242 & 243, Fatima Jinnah Road, 75530 Karachi, Pakistan?

Scheduled Bank offering SCRA

Bank: Al Baraka Bank (Pakistan) Limited

Web: https://www.albaraka.com.pk/

Bank: Allied Bank Limited

Web: https://www.abl.com/

Bank: Askari Bank Limited

Web: http://www.akbl.com.pk/

Bank: Bank Al Falah Limited

Web: http://www.bankalfalah.com/

Bank: Bank Al Habib Limited

Web: https://www.bankalhabib.com/

Bank: BankIslami Pakistan Limited

Web: http://www.bankislami.com.pk/

Bank: Dubai Islamic Bank Pakistan Limited

Web: https://www.dib.ae/

Bank: Faysal Bank Limited

Web: https://www.faysalbank.com/

Bank: First Women Bank Limited

Web: http://www.fwbl.com.pk/

Bank: Habib Bank Limited

Web: https://www.hbl.com/

Bank: Standard Chartered Bank (Pakistan) Limited

Web: https://www.sc.com/pk/

Bank: Habib Metropolitan Bank Limited

Web: http://www.habibmetro.com/

Bank: JS Bank Limited

Web: https://www.jsbl.com/

Bank: MCB Bank Limited

Web: https://www.mcb.com.pk/

Bank: MCB Islamic Banking Limited

Web: https://www.mcb.com.pk/

Bank: Meezan Bank Limited

Web: https://www.meezanbank.com

Bank: National Bank Limited

Web: https://www.nbp.com.pk/

Bank: Samba Bank Limited

Web: https://www.samba.com.pk/samba/personal-banking

Bank: Silkbank Limited

Web: https://www.silkbank.com.pk/

Bank: Sindh Bank Limited

Web: https://www.sindhbankltd.com/

Bank: Soneri Bank Limited

Web: https://soneribank.com/

Bank: Summit Bank Limited

Web: http://summitbank.com.pk/

Bank: The Bank of Khyber

Web: https://www.bok.com.pk/

Bank: The Bank of Punjab

Web: https://www.bop.com.pk/BoP

Bank: United Bank Limited

Web: https://www.ubldirect.com

Bank: Bank of Tokyo-Mitsubishi UFJ Limited

Web: https://www.bk.mufg.jp/global/globalnetwork/asiaoceania/karachi.html

Bank: Industrial & Commercial Bank of China Limited

Web: http://karachi.icbc.com.cn/ICBC/EN/default.htm

Abbasi & Company (Pvt.) Ltd

Syed Muhammad Umar Abbasi

Manager Operations

(+92)321-4643434

umar@abbasiandcompany.com

6-Shadman, Race Course Road, Lahore.

Adam Securities (Pvt.) Ltd

www.adamsecurities.com.pk

Fahad Hussain Khan

Research Analyst

(+92)342-2672686

fahadhussainkhan@adamsecurities.com.pk

33, Old Stock Exchange Building, Stock Exchange Road, Karachi.

Al Habib Capital Markets (Pvt.) Limited

Aftab Q. Munshi

Chief Executive Officer

(+92)21-32270800

aftab.munshi@ahcml.com

GF-01, Techno City, Hasrat Mohani Road, Karachi.

Alfalah Securities (Private) Limited

www.alfalahsec.com

Atif Mohammed Khan

Chief Executive Officer

(+92)21-35645090-95; Ext:301

atif.khan@alfalahsec.com

8th Floor, Bahria Complex-3, M. T. Khan Road, Karachi.

Faisal Mehmood Shiakh

Company Secretary and CFO

(+92)21-35645090-95; Ext: 303

faisal.mehmood@alfalahsec.com

8th Floor, Bahria Complex-3, M. T. Khan Road, Karachi.

Amin Tai Securities (Private) Limited

Sohail Tai

Executive Director

(+92)21-32429505

sohail@taisec.com

612-617, Stock Exchange Building,

Stock Exchange Road, Karachi

Asad Mustafa Securities (SMC-Pvt) Ltd

Asad Ali Khan

Director

(+92)308-4440249

am.securities601@gmail.com

601/I-I Z, Phase-III, DHA, Lahore.

BMA Capital Management Limited

Muhammad Bilal Athar

Head of Equities

(+92)21-32466468

bilal.ather@bmacapital.com

801, 8th Floor, Unitower, I. I. Chundrigar Road, Karachi

Omair Beg Chaghtai

Head of International Equity Sales

(+92)21-32464496

omair.chaghtai@bmacapital.com

801, 8th Floor, Unitower, I. I. Chundrigar Road, Karachi.

Cedar Capital (Private) Limited

www.cedar.com.pk

Kashif Siddiq

Head of Operations

(+92)21-34134124

kashif.siddiq@cedar.com.pk

407-408, The Square, Plot No. 156, Block-3, B.Y.C.H.S.,

Shaheed-e-Millat Road, Karachi.

Dalal Securities (Pvt.) Ltd

Muhammad Anees

Manager Operations

(+92)322-2160440

dalalsec@hotmail.com

Room No. 103, 1st Floor, Business & Finance Centre,

I. I. Chundrigar Road, Karachi.

Darson Securities (Pvt.) Ltd

Malik Dil Awayz Ahmed

Chief Compliance Officer

(+92)21-32470755-60

finance@darsononline.com

Room # 102, 1st Floor, LSE Building, Lahore.

Equity Master Securities (Pvt.) Ltd

www.equitymastersecurities.com

Muhammad Rafiq

CEO

(+92)42-36280874

rafiq@equitymastersecurities.com

Room # 410, 411 & 416 4th Floor,

Stock Exchange Building, 19-Khayaban-e-Aiwan-e-Iqbal, Lahore.

First Street Capital (Pvt.) Limited

Zulqarnain Khan

Business Development

(+92)321-4252200

firststreetcap@gmail.com

House # 43-A/S Justice Sardar Iqbal Road, Gulberg-5, Lahore.

Float Securities (Private) Limited

www.floatsecurities.com.pk

Imran Khalil Naseer

Chief Executive Officer

(+92)300-8297710

imrankhalil@floatsecurities.com.pk

D-19, 1/B, Block No. 4, Clifton, Karachi.

Foundation Securities (Pvt) Limited

www.fs.com.pk

Zubair Ghulam Hussain

Head of International Sales

(+92)21-35612290-94

zubair.hussain@fs.com.pk

Ground Floor, Bahria Complex II, M.T. Khan Road, Karachi

Syed Ahmad Zaidi

Chief Operating Officer

(+92)21-35612290-94

azaidi@fs.com.pk

Faisal Aamir

Head of Custody and Settlement

(+92)21-35612290-94

faisal.aamir@fs.com.pk

Ground Floor, Bahria Complex II, M.T. Khan Road, Karachi.

Irfan Mazhar Securities (Pvt.) Limited

Uzair Mazhar

Manager Operations

(+92)21-32446157

imsecurities@gmail.com

523, Stock Exchange Building, Stock Exchange Road, Karachi.

Intermarket Securities Limited

Raza Jafri

Executive Director

(+92)21-35155126

raza.jafri@imsecurities.com.pk

5th Bahria Complex-IV, Extension Block,

Chaudhry Khalique-uz-Zaman Road, Gizri, Karachi

JS Global Capital Limited

www.jsgcl.com

Ovais Ahsan

Head of International Desk - Equities

(+92)21-32799005; Ext:3018, 3037

ovais.ahsan@js.com

6th Floor, Faysal House, Shahra-e-Faisal, Karachi.

Sofiya Ansari

Head of Risk Management and Compliance

(+92)21-32799005; Ext: 3090

(+92)21-32799005; Ext:3018, 3037

sofiya.ansari@js.com

6th Floor, Faysal House, Shahra-e-Faisal, Karachi.

Memon Securities (Private) Limited

Muhammad Amin Memon

Chief Executive Officer

(+92)213-2472377

amin.memon@hotmail.com

154, Stock Exchange Building,

Stock Exchange Road, Karachi.

Muzammil Hussain Merchant

CFO and Company Secretary

Head of Operations

(+92)21-32467960

muzammil.merchant@summitcapital.com.pk

701 & 702, 7th Floor, Business & Finance Trade Centre,

I.I. Chundrigar Road, Karachi.

Market 786 (Private) Limited

Rizwan Ahmed Samra

Managing Trading

(+92)21-111-444-786

trading@market786.com.pk

Ground Floor, P & O Plaza, I. I. Chundrigar Road, Karachi.

N.U.A. Securities (Private) Limited

Muhammad Nisar

Chief Executive Officer

(+92)21-32460912

nuases@gmail.com

429-430, 4th Floor, Stock Exchange Building,

Stock Exchange Road, Karachi.

Rafi Securities (Private) Limited

www.rafionline.com

Naeem Rafi

Chief Executive Officer

(+92)21-111-159-111; Ext: 102, 103

nr@rafionline.com

Room No. 1004, 10th Floor, Al-Rahim Towers.

I. I. Chundrigar Road, Karachi.

Seven Star Securities (Private) Limited

Ghulam Abbas

Chief Executive Officer

(+92)21-32410210

ceo.sssl@live.com

71, 2nd Floor, Stock Exchange Building,

Stock Exchange Road, Karachi.

Summit Capital (Pvt.) Ltd

Muhammad Monis Farid

Head of Operations

(+92)21-32467956

monis.farid@summitcapital.com.pk

701 & 702, 7th Floor, Business & Finance Trade Centre,

I.I. Chundrigar Road, Karachi.

Spinzer Equities (Private) Limited

www.spinzer.pk

Jibran Ali Khan

Company Secretary

(+92)51-2895171-4

jibran@spinzer.pk

114, Executive Suites, Hilal Road,

Sector F-11/1, Islamabad

SAL Securities (Private) Limited

M. Mudassar Minhas

Manager

(+92)51-2894511-15

salsec405@gmail.com

514, 5th Floor, ISE Towers,55-B,

Jinnah Avenue,Islamabad.

Spectrum Securities (Private) Limited

www.spectrumonline.com.pk

Abdul Azeem

Head of Research

(+92)321-2556933

abdul.azeem@spectrumonline.com.pk

526, Stock Exchange Building, Stock Exchange Road, Karachi.

Imran Memon

Head of Operations

(+92)301-8252076

imran.memon@spectrumonline.com.pk

526, Stock Exchange Building, Stock Exchange Road, Karachi.

S. D. Mirza Securities (Pvt.) Ltd.

Jahanzeb Mirza

CEO

(+92)42-36368975

(+92)300-8478177

sdmirza@hotmail.com

Room # 401, 4th Floor, Stock Exchange Building,

19-Khayaban-e-Aiwan-e-Iqbal, Lahore.

Topline Securities (Private) Limited

www.topline.com.pk

Mohammad Sohail

Chief Executive Officer

(+92)21-35303336

(+92)21-35303330-2

sohail@topline.com.pk

Office No. 507, 508 and 508-A, 5th Floor,

Continental Trade Centre, Clifton, Karachi

Samar Iqbal

Vice President - Equity Sale

(+92)21-35370799

(+92)21-35303330-2

samar.iqbal@topline.com.pk

Office No. 507, 508 and 508-A, 5th Floor,

Continental Trade Centre, Clifton, Karachi.

Tariq Sayeed Securities (Private) Limited

Khurram Sayeed

Chief Executive Officer

(+92)314-6888888

planetgroup@cyber.net.pk

Progressive Plaza, Beamount Road, Karachi

Tannu Securities (Private) Limited

Mohammad Imran Haroon

Chief Executive Officer

(+92)21-35303271-79

settlement@tannusecurities.com

610, Continental Trade Center, Block - 8, Clifton, Karachi.

Value Stock and Commodites (Pvt.) Ltd.

www.valuestock.pk

Khurram Gulzar

Chief Executive Officer

(+92)42-35788728

khurram@valuestock.pk

Room # 301, 3rd Floor, LSE Building, Lahore.

Venus Securities (Private) Limited

Noman Abdul Majeed Adam

Chief Executive Officer

(+92)302-8267744

noman_adrd@yahoo.com

801, 8th Floor, Stock Exchange Building,

Stock Exchange Road, Karachi.

WE Financial Services Limited

www.we.com.pk

Asad Javed

Head of Equity Broking

(+92)213-2463401

asad@we.com.pk

506, Stock Exchange Building, Stock Exchange Road, Karachi.

Zafar Securities (Pvt.) Ltd

www.zafarstocks.com

Syeda Khola Hussain

Director

(+92)301-8460444

kholahussain@zafarstocks.com

Room # 519, 5th Floor, LSE Building, Lahore.