Karachi Stock Exchange Weekly Analysis 20 Dec, 2015


Top gainers of last week were: Pak Petroleum, Archroma Pakistan, Mari Petroleum, Kohat Cement, Shifa International Hospitals, Shell Pakistan, Ghani Glass Ltd, Orix Leasing, P.S.O. and Cherat Cement.

Top losers of last week were: Sui North Gas Pipe., Associated Services Limited, TRG Pakistan Ltd, Sui South Gas, Rafhan Maize Prod., Nestle Pakistan, Larpir Power Ltd, B.O.Punjab, Bannu Woollen and J.D.W.Sugar.

Top ten volume leaders: TRG, SSGC, SNGP, BOP, PAEL, JSCL, KEL, OGDC, PPL, PIBTL, and MLCF.

The Karachi Stock Exchange (KSE) market witnessed volatility during the week as the index traded in the range of 625pts. The benchmark Karachi Stock Exchange (KSE) 100-share Index gained 341 points, or 1.04 percent, to close the week at 33,049 points. KSE 30-share Index gain 191 points, or 0.99 percent, to end at 19,391 points.

Average traded volumes went down by 23% to 139mn shares/day, while average traded value stand out at US$82mn (down 3.1% WoW). As far as FIPI is concerned, foreigners sold US$6.1mn during the week as compared to net selling of US$10.2mn in the past week.

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

  • OPEC’S indecision to maintain its oil output in its last week’s policy review has triggered another slide in global crude oil prices where Arablight/Brent have slipped 7.7%/7.4%
  • SBP announced auction of GoP three year Ijara Sukuk against Jinnah International Airport Karachi as the underlying Asset with expected borrowing over PkR300bn
  • Remittances for Nov’15 clocked in at US$1.6bn rising 18.5%YoY while for 5MFY16 remittances amounted to US$8bn up by 7.5%YoY
  • HCAR raised its prices with immediate effect following 1% additional duty on imports
  • APCMA number show cement sales grew by 15.5%YoY to 12.2mn tonnes in 5MFY16
  • ECC of the Cabinet allowed the export of 0.5mn metric tons of sugar by Mar 31’16 and approved PkR13 as cash freight subsidy on the export
  • PPL gained attention amid huge gas discovery of 56mmcfd with the stock hitting upper limit
  • Global markets welcome the 0.25bps hike in FED rate as it shows better economic health of one of the leading world economy
  • The local political puddle saw the extension of stay for the Sindh Rangers, to allow them to continue their security operation in the province
  • Major energy breakthrough: TAPI launched
  • ADB to provide USD1.2 to USD1.5bn in 2016
  • PSMC, the country’s largest carmaker, is planning to introduce 2‐fresh variants in the local market, besides setting up a manufacturing plant for spare parts at a total investment of USD430mn. PSMC will introduce a smaller car in the 660cc engine category, while also introducing a 1,600cc compact SUV
  • FED raises interest rates for first time in a decade
  • Petroleum products contribute 44% to sales tax collection

Following are few BUY recommendations:

Pak Suzuki Motors (PSMC) – BUY
Current Price: PKR 470.1
Target Price: PKR 542

Indus Motor (INDU) – BUY
Current Price: PKR 1,015.5
Target Price: PKR 1293.99

Honda Atlas Cars (HCAR) – BUY
Current Price: PKR 241.17
Target Price: PKR 324.00

Dera Ghazi Khan Cement (DGKC) – BUY
Current Price: PKR 138.4
Target Price: PKR 169.5

Lucky Cement (LUCK) – BUY
Current Price: PKR 496.7
Target Price: PKR 665

Maple Leaf Cement (MLCF) – BUY
Current Price: PKR 69.9
Target Price: PKR 87.4

Fauji Cement (FCCL) – BUY
Current Price: PKR 36.00
Target Price: PKR 39.50

Kohat Cement (KOHC) – BUY
Current Price: PKR 235.13
Target Price: PKR 268

Fauji Fertilizer Company (FFC) – BUY
Current Price: PKR 113.56
Target Price: PKR 163.5

ENGRO Fertilizer Limited (EFERT) – BUY
Current Price: PKR 83.55
Target Price: PKR 125.00

Fatima Fertilizer (FATIMA) – BUY
Current Price: PKR 41.50
Target Price: PKR 58.9

Engro Corporation (ENGRO) – BUY
Current Price: PKR 276.61
Target Price: PKR 362.00

Engro Foods Limited (EFOODS) – BUY
Current Price: PKR 147
Target Price: PKR 181.1

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 114.7
Target Price: PKR 174.8

Pak Oilfields (POL) – BUY
Current Price: PKR 269.6
Target Price: PKR 423.0

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 111.0
Target Price: PKR 193.8

Pakistan State Oil (PSO) – BUY
Current Price: PKR 329.2
Target Price: PKR 456.8

Attock Petroleum (APL) – BUY
Current Price: PKR 471.5
Target Price: PKR 620.0

K-Electric Co. (KEL) – BUY
Current Price: PKR 7.6
Target Price: PKR 13.9 

Kot Addu Power Co (KAPCO) – BUY
Current Price: PKR 83.1
Target Price: PKR 97.00

Nishat Mills (NML) – BUY
Current Price: PKR 95.4
Target Price: PKR 168.5
Pakistan Telecommunication (PTC) – BUY
Current Price: PKR 16.3
Target Price: PKR 25.1

Allied Bank Limited (ABL) – BUY
Current Price: PKR 97.5
Target Price: PKR 120.7 

National Bank (NBP) – BUY
Current Price: PKR 55.0
Target Price: PKR 69.0

United Bank Ltd (UBL) – BUY
Current Price: PKR 159.4
Target Price: PKR 194.00

Habib Bank Limited (HBL) – BUY
Current Price: PKR 215.4
Target Price: PKR 270

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 29.6
Target Price: PKR 34

Bank Al-Habib (BAHL) – BUY
Current Price: PKR 42.50
Target Price: PKR 68

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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