Karachi Stock Exchange Weekly Analysis 26 July, 2015

The Karachi Stock Exchange (KSE) market remained range-bound during the week as KSE-100 closed the week at 35,815 points (down 72pts). KSE-100 index closed on 35,815 by losing -72 points or -0.2%.

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

  • State Bank of Pakistan has announced monetary policy and keep the discount rate unchanged
  • The findings of the judicial commission declared the elections to be free from any material rigging, but the market remained largely muted to this event
  • The international developments with the Greece saga heading to logical conclusion provided much needed relief in the international arena, the local arena remained indifferent as proceedings were a mixed bag
  • The banking space saw its first result announcement as UBL’s earnings came higher than street expectations
  • HBL slowed down its momentum taking a breather after a steady ascent, while EFODDS continue to pile up gains on account of earnings excitement
  • Fertilizer names remained mixed upon oscillating vibes regarding a lingering gas price increase
  • Shahid Khaqan Abbasi said that Pakistan had started construction work on 700‐km pipeline to import LNG from China. That hopefully the project would be initiated in October that year and would be completed in 30 months
  • SNGPL and SSGC have requested the government to approve increase in gas prices by at least 45%, saying that as a result of consumer gas price freeze the distribution companies'' debt has crossed PKR100bn mark in the wake of higher gas prices to producers
  • Over 200 villages submerged in southern Punjab
  • TCP asked to complete 0.15mn tons urea import by September
  • Engro Elengy Terminal received its first shipment of 130,000 cubic metre of LNG
  • KEL proposed a cumulative cut of PKR0.46/kilowatt‐hour for April and May tariffs in lieu of fuel charges adjustment
  • Higher arrivals of phutti (seed cotton) in Punjab pushed lint prices further lower on
  • Nepra approves Rs2.68 per unit cut in power tariff
  • In a notice sent to KSE, Byco Petroleum (BYCO) announced that its board of directors has approved, in principle, a potential merger of BYCO & Byco Terminals (100% owned subsidiary) with and into Byco Oil (holding company)
Top gainers of last week were: Jubilee Gen Ins, Sui South Gas, Orix Leasing, Sui North Gas Pipe., Fatima Fert.Co., Jah.Sidd. Co., National Bank of Pakistan, Pakgen Power Ltd., B.O.Punjab and Rafhan Maize Prod.
Top losers of last week were: Punjab Oil, Shezan International Ltd, Muree Brewery Co Ltd, Atlas Battery, Bata (Pak) Ltd., Jubilee Life Ins, Mari Petroleum, Attock Refinery Ltd., Bannu Woollen and Gul Ahmed.

Top ten volume leaders: BOP, KEL, TRG, JSCL, PTC, SNGP, SCBPL, PIBTL, PAEL, FFBL,  and LPCL.

Following are few BUY recommendations:

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 160.72
Target Price: PKR 238.2 

Pak Oilfields (POL) – BUY
Current Price: PKR 354.49
Target Price: PKR 442.00

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 151.33
Target Price: PKR 221.00

Pakistan State Oil (PSO) – BUY
Current Price: PKR 372.3
Target Price: PKR 493

Allied Bank Limited (ABL) – BUY
Current Price: PKR 104.52
Target Price: PKR 140.0 

Habib Bank Limited (HBL) – BUY
Current Price: PKR 227.92
Target Price: PKR 270

National Bank (NBP) – BUY
Current Price: PKR 57.70
Target Price: PKR 69.0

United Bank Ltd (UBL) – BUY
Current Price: PKR 180.04
Target Price: PKR 194.00

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 28.04
Target Price: PKR 34

Bank Al-Habib (BAHL) – BUY
Current Price: PKR 45.00
Target Price: PKR 68

Lucky Cement (LUCK) – BUY
Current Price: PKR 560.42
Target Price: PKR 652.00

Fatima Fertilizer (FATIMA) – BUY
Current Price: PKR 45.8
Target Price: PKR 50.7

Engro Fertilizers Limited (EFERT) – BUY
Current Price: PKR 94.3
Target Price: PKR 103.2

Engro Corporation (ENGRO) – BUY
Current Price: PKR 327.1
Target Price: PKR 403

Engro Foords (EFOODS) – BUY
Current Price: PKR 172.5
Target Price: PKR 199

K-Electric Co. (KEL) – BUY 
Current Price: PKR 8.2
Target Price: PKR 13.3

Nishat Mills (NML) – BUY
Current Price: PKR 119
Target Price: PKR 168.5 

Nishat Chunian Ltd. (NCL) – BUY
Current Price: PKR 38
Target Price: PKR 45.7 

Following are few SELL recommendations:

Fauji Fert. Bin Qasim Ltd. (FFBL) – SELL
Current Price: PKR 62.92
Target Price: PKR 49.00

Hub Power Co (HUBCO) – SELL
Current Price: PKR 99.10
Target Price: PKR 71.00

Nishat Power Ltd (NPL) – SELL
Current Price: PKR 60.15
Target Price: PKR 38.00

Nishat Chun Power (NCPL) – SELL
Current Price: PKR 60.43
Target Price: PKR 43 

Pakgen Power Ltd (PKGP) – SELL
Current Price: PKR 32.93
Target Price: PKR 24

Indus Motor (INDU) – SELL
Current Price: PKR 1252.94
Target Price: PKR 1023.00

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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