Pakistan Stock Exchange (PSX) Weekly Analysis 27 Mar, 2016

BUY recommendations are ABL, APL, BAFL, BAHL, DGKC, EFERT, ENGRO, FATIMA, FFC, HBL, HCAR, INDU, KEL, LUCK, KAPCO, MCB, MLCF, NBP, NCPL, NML, NPL, OGDC, POL, PPL, PSMC, PSO, PTC, and UBL.

Top gainers of last week were: Punjab Oil, Pakgen Power Ltd., Larpir Power Ltd, EFU Life Assur Ltd., D.G.K.Cement, International Steels Ltd, Maple Leaf Cem., Pioneer Cement, Muree Brewery Co Ltd and Sui North Gas Pipe.

Top losers of last week were: Pak Suzuki Motor, Indus Motor, Askari Bank Ltd., Bannu Woollen, Stand.Chart.Bank, National Bank of Pak, IGI Insurance, B.O.Punjab, K-Electric (KESC) and Allied Bank.

Top ten volume leaders: TRG, KEL, BOP, SNGP, FCCL, FATIMA, OGDC, SSGC, EFOODS, PAEL, and EFERT.

The Karachi Stock Exchange (KSE) market index remained lacklustre during the week. The benchmark Karachi Stock Exchange (KSE) 100-share Index losing -203 points, or -0.62 percent, to close the week at 32,877 points. KSE 30-share Index losing -235 points, or -1.21 percent, to end at 19,139 points.

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

  • Foreigners were net sellers of US$2.3mn this week. Net selling was seen in Oil & Gas Exploration and Chemicals sector of US$2.6mn and US$2.4mn, respectively. Net buying of US$2.8mn was witnessed in Cement sector
  • Visit of Iranian President to Pakistan for 2 days, where the talks will feature discussion on Iran-Pakistan gas pipeline, a plan to increase trade between the two countries and increase electricity sale to Pakistan
  • Auto sector had a rough week as investors have started to reduce large capped auto stocks from their portfolio as the long‐awaited auto policy was meaningless to existing assemblers
  • Cement stocks rallied as GoP approved to provide freight subsidy on cement exports under Strategic Trade Policy Framework where DGKC, PIOC and MLCF ended the week in deep green
  • Government doubles regulatory duty on iron, steel imports to 30%
  • LSM registering 4.12%YoY growth in 7MFY16
  • HUBC announcing reduction of stake in China Power Hub Generation Company
  • Imposition of 15% additional RD on import of finished iron and steel products till Jun 30’16
  • MARI planning to increase 150‐200mmscfd hydrocarbon output to avail higher prices

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY
Current Price: PKR 84.54
Target Price: PKR 135.00

Attock Petroleum (APL) – BUY
Current Price: PKR 420.57
Target Price: PKR 626.37

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 24.31
Target Price: PKR 32

Bank Al-Habib (BAHL) – BUY
Current Price: PKR 41.35
Target Price: PKR 68

DG Khan Cement (DGKC) – BUY
Current Price: PKR 172.6
Target Price: PKR 237

ENGRO Fertilizer Limited (EFERT) – BUY
Current Price: PKR 68.61
Target Price: PKR 118

Engro Corporation (ENGRO) – BUY
Current Price: PKR 307.25
Target Price: PKR 362.00

Fatima Fertilizer (FATIMA) – BUY
Current Price: PKR 31.71
Target Price: PKR 49

Fauji Fertilizer Company (FFC) – BUY
Current Price: PKR 106.13
Target Price: PKR 124.19

Habib Bank Limited (HBL) – BUY
Current Price: PKR 177.44
Target Price: PKR 249.7

Honda Atlas Cars (HCAR) – BUY
Current Price: PKR 235.70
Target Price: PKR 330.00

Indus Motor (INDU) – BUY
Current Price: PKR 909.95
Target Price: PKR 1305

K-Electric (KEL) – BUY
Current Price: PKR 6.8
Target Price: PKR 13.7

Lucky Cement (LUCK) – BUY
Current Price: PKR 534.56
Target Price: PKR 652

Kot Addu Power Co (KAPCO) – BUY
Current Price: PKR 77.70
Target Price: PKR 94

MCB Bank Limited (MCB) – BUY
Current Price: PKR 208.06
Target Price: PKR 268

Maple Leaf Cement Factory (MLCF) – BUY
Current Price: PKR 92
Target Price: PKR 108

National Bank (NBP) – BUY
Current Price: PKR 51.17
Target Price: PKR 65.00

Nishat Chun Power (NCPL) – BUY
Current Price: PKR 50.00
Target Price: PKR 63

Nishat Mills (NML) – BUY
Current Price: PKR 96.1
Target Price: PKR 129.2

Nishat Power Ltd (NPL) – BUY
Current Price: PKR 49.96
Target Price: PKR 59

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 116.05
Target Price: PKR 160

Pak Oilfields (POL) – BUY
Current Price: PKR 257.99
Target Price: PKR 348

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 129.33
Target Price: PKR 168

Pak Suzuki Motors (PSMC) – BUY
Current Price: PKR 399.75
Target Price: PKR 532

Pakistan State Oil (PSO) – BUY
Current Price: PKR 348.9
Target Price: PKR 456

Pakistan Telecommunications (PTC) – BUY
Current Price: PKR 15.0
Target Price: PKR 21.9

United Bank Ltd (UBL) – BUY
Current Price: PKR 153.53
Target Price: PKR 195.7

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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