Pakistan Stock Exchange (PSX) Weekly Analysis 12 Nov, 2016

BUY recommendations are ABL, ACPL, BAFL, BAHL, DGKC, EFERT, ENGRO, FATIMA, FCCL, FFBL, HUBCO, KAPCO, KEL, KOHC, LUCK, MCB, MLCF, NBP, OGDC, PAEL, PIOC, PKGP, POL, PPL, PSMC, PSO, PTC, TGL and UBL.

Top gainers of last week were: Ibrahim Fibres, Maple Leaf Cement, J.D.W.Sugar, Faysal Bank, Kohat Cement, Sui South Gas, Fauji Cement Company Ltd., Fauji Fert Bin, International Steels Ltd and Allied Rental Mod.

Top losers of last week were: Muree Brewery Co Ltd, Shell Pakistan, Philip Morris (Lakson Tobacco), Orix Leasing, K-Electric (KESC), Thal Limited, Hub Power, Jah.Sidd. Co., Oil and Gas Deve and National Foods.

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

The Pakistan Stock Exchange (PSX) market index continues its ascend during the current week, rising by 2.78% WoW to close at an all-time high of 42,849pts. KSE-100 index has reached on 42,849 by increasing 1007 points or 2.41 %.While KSE-30 index has reached on 23,200 by increasing 449 points or 1.97 %.

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


  • The eventful week witnessed the court proceedings’ on the politically charged Panama scandal move ahead smoothly
  • In one of the biggest upsets in the history of US Elections, Republican nominee Donald Trump defeated Democrat Hillary Clinton by a wide margin
  • The National Tariff Commission (NTC) started an antidumping probe into the imports of steel coils from China, almost a year after it slapped duties on Chinese cold rolled coils on the same ground
  • The cement industry posted an 11 per cent growth in local dispatches during July-October 2016 followed by a 2pc jump in exports as compared to the same period last year
  • Two shipments of 58,000 tonnes and 30,000 tonnes of superior quality petrol imported by the Pakistan State Oil (PSO) have arrived a few days ago, sources said
  • Pakistan’s trade deficit rose nearly 22 per cent year-on-year to $9.3019 billion in the first four months of this fiscal year, mainly because of falling exports coupled with a single-digit increase in imports
  • The Federal Board of Revenue (FBR) slapped penalties on around 300 high net-worth individuals, belonging to various companies, for their failure to file tax returns and wealth statements
  • Reiteration of the importance of CPEC to meet growth targets by World Bank
  • Market volumes were concentrated in banking names, especially in BOP that featured as the week’s top volume leader driven by thick retail activity. Buying momentum was clearly evident in HBL, UBL and MCB as market participant’s price in the likelihood of an interest rate reversal in the near term 
  • Pakistani banks, eyeing a piece in trillions of rupees of annual electronic transactions, planned to launch PayPak – the first national payment processing system – by June 2017 to compete with global giants Visa and MasterCard. Most big and mid-tier banks are already at an advanced stage of introducing cards as they have signed agreements with vendors to avail their services for the designing and marketing of the payment cards. An official of 1-link — the power behind PayPak – also endorsed this development
  • The foreign outflow settled in at USD5.09mn MTD with selling seen in cements and major index names
  • The top performers during the week included mostly cement stocks led by MLCF that gathered 14.23% followed by FABL that gained 13.01%, while KOHC ascended 9.92%
  • The losers list was populated by SHEL that erased 3.12% of its value, while KEL dipped by 2.03%
  • Karachi Electric (KE) is to refund Re 0.84 per unit to consumers overcharged in September 2016 after approval from the National Electric Power Regulatory Authority (Nepra) under provisional monthly fuel charges adjustment formula
  • The government has decided to give up more than 1,000 megawatts of imported coal-fired power projects to contain reliance on imported fuels and reduce foreign exchange loss


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 106
Target Price: PKR 120

Attock Cement (ACPL) – BUY 
Current Price: PKR 261.3
Target Price: PKR 329

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 33
Target Price: PKR 38

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 49
Target Price: PKR 60

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 190
Target Price: PKR 216

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 64
Target Price: PKR 83

Engro Corporation (ENGRO) – BUY
Current Price: PKR 293
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34
Target Price: PKR 39

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 40
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 53
Target Price: PKR 60

HUB Power CO (HUBCO) – BUY
Current Price: PKR 107
Target Price: PKR 121

Kot Adu Power Company (KAPCO) – BUY
Current Price: PKR 77.8
Target Price: PKR 116

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

Kohat Cement (KOHC) – BUY
Current Price: PKR 270.5
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 727
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 227
Target Price: PKR 243

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 109
Target Price: PKR 122

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 74
Target Price: PKR 80

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 141
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 71.3
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 116
Target Price: PKR 126

Pakgen Power (PKGP) – BUY 
Current Price: PKR 25.5
Target Price: PKR 40

Pakistan Oil Fields Limited (POL) – BUY 
Current Price: PKR 417
Target Price: PKR 441

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 156.8
Target Price: PKR 177

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 535.8
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 403
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 18
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 100.5
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 221
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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