Pakistan Stock Exchange (PSX) Weekly Analysis 7 Aug, 2016

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

Top gainers of last week were: International Steels Ltd, Pak Suzuki Motor, IGI Insurance, Muree Brewery Co Ltd, Thal Limited, Cherat Packaging, Saif Power Ltd, Bank Al‐Falah, K‐Electric and Ibrahim Fibres.

Top losers of last week were: Lucky Cement, Pak Tobacco Co, Allied Rental Mod, Pioneer Cement, Stand.Chart.Bank, Maple Leaf Cem., Pak.Int.Con.Ter., Kohat Cement, Kot Addu Power Co. and Kohinoor Textile.

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

The Pakistan Stock Exchange (PSX) market persisted on its bullish spell testing the coveted 40k territory, despite of lower volumes and limited participation from HNWI’s and cautious institutional players. KSE-100 index has reached on 39,390 by decreasing -139 points or -0.35 %.While KSE-30 index has reached on 22,563 by decreasing -180 points or -0.79 %.

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

  • SBP keeps policy rate unchanged at 5.75% citing inflation fears
  • The central bank’s decision to keep the benchmark interest rates unchanged did spur a short‐lived rally in banking and financial stocks, while E&P names closely tracked international crude prices
  • Savvy investors are also keeping an eye out for planned protests by opposition parties on the weekend
  • The release of fertilizer numbers failed to jump start the sector despite of showing signs of steady recovery
  • Government of Pakistan will extend export rebate of PKR11.3bn to the private sector on export of 0.9MT of wheat in the regional and international markets to be equally shared by the federal and provincial  government
  • Prices of packaged milk and sugar have gone up by PKR5/litre and PKR2/kg respectively
  • EU has urged the GoP to remove the 25% RD on import of milk powder, which has hurt the export of this product. The ambassadors argued that since Pakistan enjoys GSP Plus status in exporting its products to the EU, the government should avoid such curbs on EU products as well
  • PSMC announced an increase in prices of all its car models by 3% or PKR20,000–30,000 per unit from August 1, 2016. The company did not mention a reason for the price hike
  • Foreigners were net sellers of US$3.9mn worth of shares, during the week
  • The International Monetary Fund (IMF) cleared payment to Pakistan of a final US$102mn tranche in a US$6.4bn three-year program on Thursday, Aug 4, 2016

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY
Current Price: PKR 91.00
Target Price: PKR 135.00 

Attock Petroleum (APL) – BUY
Current Price: PKR 469.00
Target Price: PKR 580

Amreli Steels Ltd. (ASTL) – BUY
Current Price: PKR 56.0
Target Price: PKR 83.0

Bank Al-Falah (BAFL) – BUY
Current Price: PKR 28.9
Target Price: PKR 32

Bank Al-Habib (BAHL) – BUY
Current Price: PKR 43.87
Target Price: PKR 68

DG Khan Cement (DGKC) – BUY
Current Price: PKR 206
Target Price: PKR 237.0

ENGRO Fertilizer Limited (EFERT) – BUY
Current Price: PKR 67.73
Target Price: PKR 95

Engro Corporation (ENGRO) – BUY
Current Price: PKR 330
Target Price: PKR 362

Fatima Fertilizer (FATIMA) – BUY
Current Price: PKR 34.52
Target Price: PKR 41

Fauji Cement Company Limited (FCCL) – BUY
Current Price: PKR 37.9
Target Price: PKR 47

Habib Bank Limited (HBL) – BUY
Current Price: PKR 214.9
Target Price: PKR 255

K-Electric (KEL) – BUY
Current Price: PKR 8.7
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 265.9
Target Price: PKR 353

MCB Bank Limited (MCB) – BUY
Current Price: PKR 222
Target Price: PKR 268

Nishat Chun Powerr (NCPL) – BUY
Current Price: PKR 54.41
Target Price: PKR 63

Oil & Gas Development Co. (OGDC) – BUY
Current Price: PKR 135.44
Target Price: PKR 160.00

Pak Electron (PAEL) – BUY
Current Price: PKR 72.3
Target Price: PKR 83

Pak Gen Power (PKGP) – BUY
Current Price: PKR 25.5
Target Price: PKR 41

Pakistan Petroleum (PPL) – BUY
Current Price: PKR 156.5
Target Price: PKR 193.8

Pak Suzuki Motors (PSMC) – BUY
Current Price: PKR 432.85
Target Price: PKR 532

Pakistan State Oil (PSO) – BUY
Current Price: PKR 411.8
Target Price: PKR 456

Pakistan Telecommunications (PTC) – BUY
Current Price: PKR 16.4
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY
Current Price: PKR 89.6
Target Price: PKR 120

United Bank Ltd (UBL) – BUY
Current Price: PKR 191
Target Price: PKR 212

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

2 comments:

  1. Thanks for share.
    Kindly if you can further update about the buy recommendations that in what time period these gains are expected?
    For example you mentioned ABL target Price is PKR 135.00 from 91.00 but can you guide this gain is expexted to be achieved in what time period?

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