Pakistan Stock Exchange (PSX) Weekly Analysis 25 July, 2016

BUY recommendations are ABL, APL, ASTL, BAFL, BAHL, DGKC, EFERT, ENGRO, FATIMA, FCCL, HBL, KEL, KOHC, MCB, NCPL, NML, OGDC, PAEL, PKGP, PSMC, PSO, PTC, TGL and UBL.

Top gainers of last week were: Larpir Power Ltd, Sui South Gas, Nishat Chunian, Thal Limited, Pak Suzuki Motor, Shifa International Hospitals, Pakgen Power Ltd., National Refinery, Sui North Gas Pipe. and National Bank of Pak.
   
Top losers of last week were: Ibrahim Fibres, Feroz 1888 Mills Ltd, Fauji Fert Bin, IGI Insurance, Dawood Hercules Chem, GlaxoSmithKline Pak., Punjab Oil, Bannu Woollen, Pak Tobacco Co and Hascol Petroleum Ltd.

Top ten volume leaders: SNGP, PAEL, EFERT, SSGC, TRG, KEL, JSCL, PTC, NCL, PIBTL and FFBL.

The Pakistan Stock Exchange (PSX) market broadly remained flat and skidded down by meager 0.1% WoW (↓37pts) to close at 39,151pts. KSE-100 index has reached 39,152 points by losing -36 points or -0.09%, while KSE-30 index has reached 22,630 points by losing -91 points or -0.40%.

Average daily volumes witnessed a 7% rise, with volumes clocking in at 207.1mn shares, on the other hand, average daily values fell 8%, to Rs13.2bn/US$125.7mn.

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


  • SECP has formally sent the final draft of the Companies Bill, 2016 to the MoF for initiating necessary legislative process and its passage by the Parliament
  • Textile exports went down by one billion dollars during last financial year due to massive decline in cotton crop production and slowdown in the economy of China pushing Pakistan's exported textile goods to US$12.45bn during FY16
  • Foreigners were net sellers of US$11.5mn worth of shares this week
  • According to SBP, Foreign Direct Investment (FDI) clocked in at US$1.3bn, witnessing 39% YoY increase
  • According to Pakistan Bureau of Statistics (PBS), Large Scale Manufacturing (is down 1.5% YoY in May 2016
  • Federal Board of Revenue (FBR) and Real Estate sector on Thursday agreed on withdrawal of new valuation system for assessment of immovable properties under Finance Act 2016 and a possible applicability of a joint multiple table for fair market values of urban and rural properties by the FBR and real estate sector
  • The results season kicked‐off with index blue chip PTC announcing earnings and payout that were in line with street estimates
  • PPL, the operator of Gambit South Exploration License holding a 65%working interest, that hydrocarbon (gas) was discovered from its exploratory well Hadi X‐1A, located in district Sanghar, Sindh 
  • Cotton yarn prices up 25% to PKR11,500/bag
  • Import of used cars surge 67% to 53,600 in 2015/16


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 87.0
Target Price: PKR 120.00

Attock Petroleum (APL) – BUY 
Current Price: PKR 468.4
Target Price: PKR 580

Amerli Steel (ASTL) – BUY 
Current Price: PKR 56.2
Target Price: PKR 83.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 26.6
Target Price: PKR 32

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 42.28
Target Price: PKR 68

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 207
Target Price: PKR 237.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 68.6
Target Price: PKR 91

Engro Corporation (ENGRO) – BUY
Current Price: PKR 331.0
Target Price: PKR 362.00

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.2
Target Price: PKR 41

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 38.0
Target Price: PKR 47.0

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 208.2
Target Price: PKR 233.54

K-Electric (KEL) – BUY
Current Price: PKR 8.2
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 277.0
Target Price: PKR 353

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 221.98
Target Price: PKR 268

Nishat Chun Power (NCPL) – BUY 
Current Price: PKR 53.64
Target Price: PKR 63

Nishat Mills (NML) – BUY 
Current Price: PKR 115.0
Target Price: PKR 140

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 143.10
Target Price: PKR 160.00

Pak Electron (PAEL) – BUY 
Current Price: PKR 69.9
Target Price: PKR 83

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 26.0
Target Price: PKR 41.0

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 433.2
Target Price: PKR 532

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 411.6
Target Price: PKR 450

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 15.9
Target Price: PKR 21.0

Tariq Glass (TGL) – BUY 
Current Price: PKR 82.4
Target Price: PKR 120

United Bank Ltd (UBL) – BUY 
Current Price: PKR 180.00
Target Price: PKR 212.00

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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