Karachi Stock Exchange Weekly Analysis 10 May, 2015

The Karachi Stock Exchange (KSE) market extended its corrective phase this week, falling another 0.6% WoW to close at 33,530 points. KSE-100 index closed on 33,530 by losing 200 points or -0.59%. While KSE-30 index closed on 21,580 by losing 94 points or -0.43%.

Activity slowed ahead of MPS/FY16 budget, with ADTO and average daily value traded dropping by 26% and 14% WoW to 187mn shares and US$106mn respectively. Foreigners were net buyers, with US$12.2mn inflow posted this week, down 44% WoW.

According to experts of http://www.karachistockexchange.org, following news have played vital role in Karachi Stock Market index movement:

  • Global oil prices rising to CY15 highs as Brent crossed US$67/bbl closing near US$65/bbl
  • CPI based inflation for Apr’15 clocked in 2.11%YoY vs. 2.49%YoY in Mar’15
  • MoF’s approval of SBP's proposed forced merger of ailing KASB Bank with BankIslami
  • Accumulated debt in the power space surpassing PkR600bn, as the supply shortfall climbs to 4,500MW
  • The FBR has increased sales tax from 18 to 20% on motor spirit excluding HOBC and 32 to 34% on high speed diesel from May 1, 2015
  • POL discovers oil, gas reserves in Tal Block
  • SBP injected PKR716bn into the banking system to cover the widening liquidity gap
  • Engro Powergen will develop a 660MW project, having two plants of 330MW each, utilising Thar lignite coal
  • Budget to be presented on June 5th
  • Pakistan likely to issue US$1bn in Eurobonds in FY16

Top gainers of last week were: Abbott Lab, Shell Pakistan, TRG Pakistan Ltd, Pak Oilfields, Shifa International Hospitals, Honda Atlas Cars, Arif Habib Corp, P.T.C.L.A, Meezan Bank and J.D.W.Sugar.

Top losers of last week were: Bata (Pak) Ltd., B.O.Punjab, Ibrahim Fibres, Service Indus, Thal Limited, Engro Corp, Nishat Chunian Power, Lafarge Pakistan, Jah.Sidd. Co. and Packages Limited.

Top ten volume leaders: KEL, EFERT, PAEL, TRG, FCCL, JSCL, AHCL, PTC, BOP, DGKC and ENGRO.

Following are few BUY recommendations:

Lucky Cement (LUCK) – BUY
Current Price: PKR 476.1
Target Price: PKR 552.00

DG Khan Cement (DGKC) – BUY
Current Price: PKR 130.71
Target Price: PKR 162

Cherat Cement (CHCC) - BUY
Current Price: PKR 72.96
Target Price: PKR 95.00 

Fauji Fert. Bin Qasim Ltd. (FFBL) – BUY
Current Price: PKR 48.4
Target Price: PKR 62.4  

Fatima Fertilizer (FATIMA) – BUY
Current Price: PKR 37.8
Target Price: PKR 50.3 

Engro Fertilizers Limited (EFERT) – BUY
Current Price: PKR 85.27
Target Price: PKR 103.2

Engro Foods Limited (EFOODS) – BUY
Current Price: PKR 145.0
Target Price: PKR 181.1 

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 190.0
Target Price: PKR 256.5 

Pak Oilfields (POL) – BUY
Current Price: PKR 395.1
Target Price: PKR 442.00

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 180.10
Target Price: PKR 221.00

K‐Electric Co. (KEL) – BUY 
Current Price: PKR 7.6
Target Price: PKR 13.3

Nishat Mills (NML) – BUY
Current Price: PKR 110.6
Target Price: PKR 168.5 

Nishat Chunian Ltd. (NCL) – BUY 
Current Price: PKR 37.6
Target Price: PKR 45.7 

Allied Bank Limited (ABL) – BUY
Current Price: PKR 112.5
Target Price: PKR 140.0 

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 29.1
Target Price: PKR 39.00

Habib Bank Limited (HBL) – BUY
Current Price: PKR 200.2
Target Price: PKR 255.0  

National Bank (NBP) – BUY
Current Price: PKR 56.5
Target Price: PKR 72.00

United Bank Ltd (UBL) – BUY
Current Price: PKR 174.6
Target Price: PKR 194.00

MCB Bank Ltd (MCB) – BUY
Current Price: PKR 273.26
Target Price: PKR 320.00

Bank Al-Habib (BAHL) – BUY
Current Price: PKR 46.27
Target Price: PKR 68.00

Pak Suzuki (PSMC) – BUY
Current Price: PKR 423.75
Target Price: PKR 495.00

Following are few SELL recommendations:

Hub Power Co (HUBCO) – SELL
Current Price: PKR 97.84
Target Price: PKR 71.00

Nishat Power Ltd (NPL) – SELL
Current Price: PKR 57.46   
Target Price: PKR 38.00

Nishat Chun Power (NCPL) – SELL
Current Price: PKR 61.93 
Target Price: PKR 43 

Pakgen Power Ltd (PKGP) – SELL
Current Price: PKR 29.83 
Target Price: PKR 24

Honda Atlas Cars (HCAR) – SELL
Current Price: PKR 257.88
Target Price: PKR 204.00

Thank you very much for reading this article.

NOTE: The information posted in this blog /forum (http://www.karachistockexchange.org/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

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