Pakistan Stock Exchange (PSX) Weekly Analysis 10 April, 2016

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

Top gainers of last week were: Hum Network Ltd, Cherat Packaging, Nestle Pakistan, TRG Pakistan Ltd, P.T.C.L.A, Ibrahim Fibres, Jah.Sidd. Co., Fauji Fert Bin, Kohinoor Textile and International Steels Ltd.

Top losers of last week were: Muree Brewery Co Ltd, Indus Dyeing, National Foods, Allied Bank, Ferozsons (Lab), Pakgen Power Ltd., J.D.W.Sugar, B.O.Punjab, Shell Pakistan and Attock Refinery Ltd.

Top ten volume leaders: KEL, TRG, JSCL, SNGP, PIBTL, PTC, BOP, PAEL, FFBL, FCCL, and SSGC,

The Pakistan Stock Exchange (PSX) market index flirted with 34k level as turnover crossed seven month high averaging 275mn during the week as investors look to build positions to gain from upcoming quarterly result rally. The benchmark Karachi Stock Exchange (KSE) 100-share Index losing 518 points, or 1.55 percent, to close the week at 33,968 points. KSE 30-share Index gaining 277 points, or 1.43 percent, to end at 19,629 points.

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

  • Cements and fertilizers were the apple of the eye for the market participants as foreign interest in cements (DGKC & MLCF) on bullish view over lined up infrastructure projects in the country rallied the sector however; profit booking was witnessed at the end of the week
  • FFBL on announcement of commencement of meat operations sky rocketed to recent high closing of PKR55.73 but it too succumbed to profit booking at the end of the week
  • PTC remained at the heart of rumors including removal of termination charges and proposal of fixing floor prices for cellular operators (beneficial to its subsidiary Ufone)
  • PTA took notice of disparaging difference between on‐net and off‐net tariffs of cellular operators, which gives rise to grey traffic, in the authority's opinion
  • Gas tariffs to be raised from July 1
  • PSMC has increased prices of locally produced bikes by an average PKR5,000. The company has also pushed up the price of WagonR car by PKR10,000
  • Customs to raise import prices of tyres, tubes
  • WTO cuts 2016 global trade forecast to 2.8%
  • FM Dar announced that Pakistan is not in need of an IMF program now, but erred that the country still needs to consolidate its economic gains made over the last two years
  • SSGC and SNGP on the directives of MoPNR, announced the litiing of gas moratorium placed on high‐rise residential buildings, and to start giving gas connections
  • Foreigners remained net buyers during the week, mopping up shares worth USD27.63mn worth of shares versus USD4.62mn in last week, with USD28mn of inflows attributed to acquisition of 15% shares of HASCOL by Vitol

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY
Current Price: PKR 88.00
Target Price: PKR 135.00 

Attock Petroleum (APL) – BUY
Current Price: PKR 429.99
Target Price: PKR 626.37

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 25.50
Target Price: PKR 32

Bank Al-Habib (BAHL) – BUY
Current Price: PKR 42.05
Target Price: PKR 68

DG Khan Cement (DGKC) – BUY
Current Price: PKR 184.0
Target Price: PKR 237

ENGRO Fertilizer Limited (EFERT) – BUY
Current Price: PKR 72.41
Target Price: PKR 118

Engro Corporation (ENGRO) – BUY
Current Price: PKR 319
Target Price: PKR 362.00

Fatima Fertilizer (FATIMA) – BUY
Current Price: PKR 32.98
Target Price: PKR 49

Fauji Cement (FCCL) – BUY
Current Price: PKR 44.7
Target Price: PKR 50

Fauji Fertilizer Bin Qasim (FFBL) – BUY
Current Price: PKR 55.1
Target Price: PKR 71.9

Fauji Fertilizer Company (FFC) – BUY
Current Price: PKR 109.54
Target Price: PKR 124.19

Habib Bank Limited (HBL) – BUY
Current Price: PKR 174.60
Target Price: PKR 249.7

Honda Atlas Cars (HCAR) – BUY
Current Price: PKR 261.32
Target Price: PKR 330.00

Indus Motor (INDU) – BUY
Current Price: PKR 940.02
Target Price: PKR 1305

Kot Addu Power Co (KAPCO) – BUY
Current Price: PKR 77.99
Target Price: PKR 94

K-Electric (KEL) – BUY
Current Price: PKR 7.6
Target Price: PKR 13.7

Lucky Cement (LUCK) – BUY
Current Price: PKR 566.51
Target Price: PKR 652

MCB Bank Limited (MCB) – BUY
Current Price: PKR 205.21
Target Price: PKR 268

National Bank (NBP) – BUY
Current Price: PKR 53.07
Target Price: PKR 65.00

Nishat Chun Power (NCPL) – BUY
Current Price: PKR 49.72
Target Price: PKR 63

Nishat Power Ltd (NPL) – BUY
Current Price: PKR 50.05
Target Price: PKR 59

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 116.71
Target Price: PKR 160

Pioneer Cement (PIOC) – BUY
Current Price: PKR 104.3
Target Price: PKR 123.0

Pak Oilfields (POL) – BUY
Current Price: PKR 260.53
Target Price: PKR 348

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 128.92
Target Price: PKR 168

Pak Suzuki Motors (PSMC) – BUY
Current Price: PKR 419.70
Target Price: PKR 532

Pakistan State Oil (PSO) – BUY
Current Price: PKR 364.7
Target Price: PKR 456

Pakistan Telecommunications (PTC) – BUY
Current Price: PKR 16.8
Target Price: PKR 21.9

United Bank Ltd (UBL) – BUY
Current Price: PKR 151.46
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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