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

BUY recommendations are ABL, BAFL, DGKC, EFERT, EFOODS, ENGRO, FCCL, FFBL, HBL, KEL, KOHC, LUCK, MCB, MLCF, OGDC, PAEL, PIOC, PKGP, PSMC, PSO, PTC and UBL.

Top gainers of last week were: B.O.Punjab, Shell Pakistan, International Steels Ltd, Sui North Gas Pipe., Kohinoor Textile, Service Indus, Dawood Hercules Chem, Cherat Cement, Rafhan Maize Prod. and Millat Tractors.

Top losers of last week were: Kot Addu Power Co., Pak Services, Honda Atlas Cars, Pak Suzuki Motor, Pak Petroleum, Punjab Oil, Feroz 1888 Mills Ltd, Nishat Mills Limited, EFU General Ins and Hub Power.

Top Volume Leaders of last week: BOP, TRG, JSCL, KEL, SNGP, SSGC, PTC, NCL, PIBTL, PAEL, and FCCL.

The Pakistan Stock Exchange (PSX) market index continued to rally amidst improving macroeconomic outlook and subsiding geopolitical concerns (arisen from recent LOC skirmish between India and Pakistan). KSE-100 index has reached on 41,200 by increasing 658 points or 1.62 %.While KSE-30 index has reached on 22,664 by increasing 228 points or 1.01 %.

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


  • The earlier part of the week witnessed excitement in cements as ECNEC approved construction work on major dams and gave a go ahead to some energy projects
  • Oil stocks stayed mostly flat with gains seen earlier in the week as international crude jumped past the USD50/bbl level
  • FrieslandCampina Pakistan Holdings BV, a wholly owned subsidiary of Dutch dairy cooperative FrieslandCampina, has offered to acquire 49.8 million shares of Engro Foods Ltd held by the general public at a price of Rs151.85 per share 
  • The government raised profit rates on the national savings schemes on Saturday to woo investors after investments in these schemes fell steeply in 2015‐ 16.The slight increase in profit rates is indicative of the future movement of the key interest rate 
  • Production of up to 11.2 million bales of cotton was expected this season as compared to 10 million bales produced in the previous year
  • Referring to recent press rumors, PTCL on confirmation from Etisalat would like to categorically state that no discussions regarding sale of Etisalat’s stake in PTCL and its subsidiary Ufone to any company, have taken place.Etisalat has confirmed that it remains committed to its business in Pakistan and continues to work for its success 
  • Hubco plans to set up 330MW coal‐fired plant
  • Commercial Banks were the top gainers over the week, up 2%, followed by Tobacco and Cement, which increased 6% and 2% respectively
  • Foreigners remained net sellers for the 6th consecutive week, offloading USD8.3mn worth of shares
  • Government plans to raise $1 billion through Eurobonds
  • Consumer price inflation ticks up at 3.9pc in September
  • Some 17 foreign and local strategic investors, including Chinese and US stock exchanges, have kick‐started the evaluation process of the Pakistan Stock Exchange (PSX) to bid and buy a total of 40% stake by November 30


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 99
Target Price: PKR 120

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 28.7
Target Price: PKR 33

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 192
Target Price: PKR 230

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 61.5
Target Price: PKR 95

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 147.2
Target Price: PKR 163

Engro Corporation (ENGRO) – BUY
Current Price: PKR 299.4
Target Price: PKR 361

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 34.7
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 52
Target Price: PKR 60.48

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 222.3
Target Price: PKR 255

K-Electric (KEL) – BUY
Current Price: PKR 9.2
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 255
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 705
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 224
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 97.5
Target Price: PKR 112

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 142.6
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 71.8
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 108
Target Price: PKR 136

Pakgen Power (PKGP) – BUY 
Current Price: PKR 26.3
Target Price: PKR 40

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 555.8
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 425
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 18.3
Target Price: PKR 21.9

United Bank Limited (UBL) – BUY 
Current Price: PKR 205
Target Price: PKR 235

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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