Pakistan Stock Exchange (PSX) Weekly Analysis 8 Oct, 2017

BUY recommendations are:  ABL, ACPL, AICL, AKBL, APL, ASL, ASTL, BAFL, BAHL, CHCC, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HBL, HMB, HASCOL, HCAR, HMB, HTL, HUBC, INDU, ISL, KOHC, LPL, LUCK, MARI, MCB, MEBL, MLCF, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POWER, PPL, PSMC, PSO, PTC, TGL and UBL.

Top gainers of last week were: NCL, PSEL, IBFL, PSMC, MARI, JDWS, THALL, NPL, FFBL and JSCL.

Top losers of last week were: CSAP, ATRL, SNGP, ATLH, SSGC, PIOC, PGF, SEARL, CHCC, and ASTL.

Top Volume Leaders of last week: TRG, KEL, BOP, MLCF, SSGC, NCL, SNGP, DGKC, PAEL and FCCL.

The Pakistan Stock Exchange (PSX) market index came under the political hammer yet again as the benchmark KSE-100 index lost 1,948pts (-4.6%) during the first three days of the week, however spurt of positive sectors-related news flows helped the index gain 844pts (+2.1%) on Friday. KSE-100 index has closed on 41,312.59 by losing -1,096.68 points or -2.6 %.

Average trading volumes for the week clocked in at 140mn shares, down 18% WoW as investors remained vary of the market amidst the ongoing NAB proceedings against the Ex-PM Nawaz Sharif and family.

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


  • SBP in its recent monetary policy kept policy rates unchanged and maintains policy rate at 5.75% yet again, in-line with expectation
  • The cement sector helped pullback up the sentiments on Friday as rumors of settlement between manufacturers over pricing arrangement circulated in the market along with Wednesday’s release of better-than-expected dispatches numbers for the month of Sept-2017 
  • As per the data released by APCMA, cement sector dispatched 3.19mn tons (local 2.79mn, export 0.40mn tons) in Sep’17, up by 5%YoY. Local consumption was up by 10%YoY while export went down by 23%YoY
  • Foreign exchange reserve continued to slide downwards, reporting a weekly decline of US$228mn, where more concerning reserves held by the State Bank of Pakistan (SBP) dropped to a 25-month low of US$13.86bn 
  • The CPI inflation for Sept-2017 was also released on Monday, with headline inflation clocking in expectedly at 3.9% YoY and 0.6% MoM
  • Inflation edged up from last month’s reading of 3.4% YoY because of higher food prices
  • Cotton production registering 50% YoY growth
  • Shanghai Electric writing to NEPRA highlighting the new multi-year tariff for K-Electric (KEL) as a major impediment in its endeavours to purchase the utility
  • Pioneer Cement (PIOC) looking to acquire Galadari Cement
  • The governemnt issuing Office Memorandum for export of sugar with a subsidy of Rs10.7/kg
  • Foreign institutional investors remained net seller during the week with an outflow of USD9.8mn
  • Pakistan Oilfields (POL) in its material notification announced its recent discovery at Ikhlas Block that is expected to have an annualized positive EPS impact of PKR12/sh
  • Growing consumption of retail fuels led to 3%YoY rise in sales of POL products to 2.16mn tons in Sep’17
  • The ex Prime Minister appeared before the Accountability Court on October 02, 2017, when the Court issued non-bail able arrest warrants for his sons and son-in-law
  • The government has notified increase in petroleum products'' prices effective October 1. In a monthly review
  • Government assured the fertiliser industry of disbursing nine billion rupees in lieu of pending subsidy claims within a week


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 86.00
Target Price: PKR 132

Attock Cement (ACPL) – BUY 
Current Price: PKR 199.48
Target Price: PKR 315

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 61.23
Target Price: PKR 90

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.90
Target Price: PKR 25

Attock Petroleum (APL) – BUY 
Current Price: PKR 617.50
Target Price: PKR 796

Aisha Steels Limited (ASL) – BUY 
Current Price: PKR 17.8
Target Price: PKR 30

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 93.1
Target Price: PKR 156

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 41.07 
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 56.50
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 109.47
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 146.65
Target Price: PKR 262.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 62.02
Target Price: PKR 83

ENGRO Foods Limited (EFOODS) – BUY 
Current Price: PKR 87.96
Target Price: PKR 138.66

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 292.65
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 31.48
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 30.96
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 36.27
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 81.26 
Target Price: PKR 122.0

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 31.46
Target Price: PKR 100.00

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 173.51 
Target Price: PKR 253.08

Habib Metro (HMB) – BUY 
Current Price: PKR 33.00 
Target Price: PKR 52

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 267.52
Target Price: PKR 428

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 518.5
Target Price: PKR 912.2

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 33.45
Target Price: PKR 52

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 90.23
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 109.99
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,670.02 
Target Price: PKR 2,214.3

Inter Steel Limited (ISL) – BUY 
Current Price: PKR 113.1
Target Price: PKR 178

Kohat Cement (KOHC) – BUY
Current Price: PKR 141.71
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 21.12
Target Price: PKR 32

Lucky Cement (LUCK) – BUY 
Current Price: PKR 528.31
Target Price: PKR 1,159.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,542.1
Target Price: PKR 2,051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 206.27
Target Price: PKR 250

Meezan Bank (MEBL) – BUY 
Current Price: PKR 70.00
Target Price: PKR 91

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 77.2
Target Price: PKR 179.0

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 49.51
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 311.00
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 60.30
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 39.27
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 146.13
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 45.45
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 145.89 
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 74.2
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 81.35
Target Price: PKR 161

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 21.75 
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 10.28
Target Price: PKR 16

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 173.1
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 476.43
Target Price: PKR 800.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 439.59
Target Price: PKR 490

Pakistan Telecommunication (PTC) – BUY 
Current Price: PKR 14.00
Target Price: PKR 19.00

Tariq Glass (TGL) – BUY 
Current Price: PKR 102.15
Target Price: PKR 128

United Bank Limited (UBL) – BUY 
Current Price: PKR 189.98 
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. The information given in this blog /forum (http://www.karachistockexchange.org/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.org/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.

Written by: Rana Khuram

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