Pakistan Stock Exchange (PSX) Weekly Analysis 19 March, 2017

BUY recommendations are ABL, AICL, APL, ASC, BAHL, DGKC, EFERT, ENGRO, FCCL, FFBL, HASCOL, HBL, INDU, KAPCO, KEL, KOHC, LPL, LUCK, MLCF, MCB, MEBL, NATF, NPL, OGDC, PIOC, PKGP, POWER, PPL, PSO, PTC, TGL and UBL.

Top gainers of last week were: PICT, COLG, MEBL, BOP, FATIMA, ICI, CHCC, PAKT, PTC and RMPL

Top losers of last week were: HMB, EFOODS, FABL, ARM, POML, PPL, FFBL, EFERT, BATA and NPL

Top Volume Leaders of last week: KEL, BOP, TRG, SNGP, HBL. FCCL, EFERT, SSGC, PAEL, ISL, and BAFL.

The Pakistan Stock Exchange (PSX) market index remained under pressure as political noise, low international oil price and stern action by the regulator kept the sentiments negative. KSE-100 index has reached on 48,409 by decreasing -783 points or -1.59 %, while KSE-30 index reached on 25,956 by decreasing -649 points or -2.44 %.

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


  • The delay in announcement of the verdict on the ‘Panama- gate’ case was further complicated by Hussain Haqqani’s recent revelations bringing back the memories of the Memo-Gate scandal
  • Ministry of Finance approved payment of Rs6bn to PSO as an urgent case to avoid international default next week against fuel supplies. Simultaneously, Ministry of Petroleum and Natural Resources and the oil industry decided to put on hold future fuel oil import orders until the Ministry of Water & Power submits firm plan for payment & draw down of record stockpile 
  • SBP issued PkR284bn worth of short term government papers with cut off yields on 3/6mth papers remained stable at 5.9463% and 5.9896%
  • In line with expectations, the US FOMC raised the target range for the federal funds rate between 0.75% to 1%
  • In addition to independent power producers’ claims of over PkR414bn, non‐payments to oil companies are reported to be crossing PkR300bn
  • MOF approved payment of PkR6bn on Thursday for the state owned OMC, PSO to avoid an international default
  • PSX welcomes four board directors from China
  • IFC to invest $100 million in new hydropower project
  • In an astonishing move, the shipping companies have announced to begin collecting ''Port Congestion Charge'' from importers from March 22, 2017
  • Around 400m cubic feet of natural gas is going to waste every day, accounting for almost 14-15pc of total supplies to the country’s integrated transmission and distribution network


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 96.49
Target Price: PKR 132

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 76.42
Target Price: PKR 92

Attock Petroleum (APL) – BUY 
Current Price: PKR 649.0
Target Price: PKR 796

Al Shaheer Corporation Ltd. (ASC) – BUY 
Current Price: PKR 47.30
Target Price: PKR 82

Bank Al-Falah Limited (BAFL) – BUY 
Current Price: PKR 37.0
Target Price: PKR 42

Bank Al-Habib Limited (BAHL) – BUY 
Current Price: PKR 54.94
Target Price: PKR 64

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 235.9
Target Price: PKR 270

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 64.5
Target Price: PKR 83

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 169.50
Target Price: PKR 225

Engro Corporation (ENGRO) – BUY
Current Price: PKR 376.49
Target Price: PKR 391

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 43.0
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 53.0
Target Price: PKR 67

General Tyre & Rubber  (GTYR) – BUY 
Current Price: PKR 277.28
Target Price: PKR 313

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 285.40
Target Price: PKR 304

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 320.85
Target Price: PKR 428

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 110.03
Target Price: PKR 133

Indus Motors (INDU) – BUY
Current Price: PKR 1,587.03
Target Price: PKR 1,974

Kot Adu Power (KAPCO) – BUY
Current Price: PKR 79.67
Target Price: PKR 107

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

Kohat Cement (KOHC) – BUY
Current Price: PKR 269.6
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.36
Target Price: PKR 46

Lucky Cement (LUCK) – BUY 
Current Price: PKR 887.15
Target Price: PKR 1,046

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 123.7
Target Price: PKR 165

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 226.35
Target Price: PKR 280

Meezan Bank (MEBL) – BUY 
Current Price: PKR 67.90
Target Price: PKR 72

National Foods (NATF) – BUY 
Current Price: PKR 343
Target Price: PKR 473

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 47.96
Target Price: PKR 59

Nishat Power (NPL) – BUY 
Current Price: PKR 52
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.6
Target Price: PKR 200

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 139.9
Target Price: PKR 161

Pakgen Power (PKGP) – BUY 
Current Price: PKR 23.12
Target Price: PKR 47

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 453.65
Target Price: PKR 569.4

Power Cement (POWER) – BUY 
Current Price: PKR 19.05
Target Price: PKR 26

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 155.4
Target Price: PKR 218

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 436.5
Target Price: PKR 490

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 16.89
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 109.0
Target Price: PKR 120

United Bank Limited (UBL) – BUY 
Current Price: PKR 233.6
Target Price: PKR 294

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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