Pakistan Stock Exchange (PSX) Weekly Analysis 15 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, HASCOL, HCAR, HMB, HTL, HUBC, INDU, ISL, KOHC, LOTCHEM, LPL, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POWER, PPL, PSMC, PSO, PTC, RPL, TGL, UBL.

Top gainers of last week were: ARM, SCBPL, POL, NATF, PAKT, INDU, JLICL, ABOT, SNBL and BAFL.

Top losers of last week were: PSO, CJPL, GHGL, CSAP, SSGC, ASTL, MLCF, ACPL, PIOC and FML.

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

The Pakistan Stock Exchange (PSX) market index was in for a wild journey as it recorded five straight negative sessions shedding more than 1,400 points with rising heat on the political front and heightened fears regarding the country’s economic health. KSE-100 index has closed on 39,847 by losing -1,466 points or -3.55 %. While KSE-30 index closed on 20,210 by losing -808 points or -3.94%.

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


  • Political headwinds, concerns regarding the macroeconomic situation and seemingly tensed relations between the civil and military factions of the country kept the market under pressure
  • Average daily trading activity during the week slightly advanced by 4.96%WoW to 145.79mn shares
  • NEPRA announcing its decision on KEL’s MYT review petition where the regulator approved a minor 5% increase in previously announced tariff to PkR12.77/KwH against the company’s demand of PkR16.1/KwH
  • ECC approving the rise in margins of petroleum products, deregulation of HSD and renewal of textile package with 50% of rebates to be offered without any condition
  • World Bank reiterating its concerns over the external sector of Pakistan
  • Sales of cars and light commercial vehicles (LCVs), jeeps and vans increasing 27%YoY to 60,469 units in 1QFY18
  • Though further proceedings on the accountability issue of ousted PM Nawaz Sharif and his family members is set to resume next week
  • The Army chief voiced his concerns over the deteriorating macro-economic indicators, while the State Bank of Pakistan (SBP) in its annual report also admitted to external and fiscal accounts pressures
  • Pakistan Oilfields was amongst the top performing stocks during the week thanks to release of higher than anticipated reserve size for its most recent discovery of hydro-carbons at the Ikhlas Block
  • Cement names were the biggest losers during the week as rumors of further price reduction by north based players made rounds
  • Net foreign flows for the week clocked in at USD38.8.0mn vs a USD9.6mn outflow in the previous week. Despite the improvement in foreign flows, the KSE-100 index declined by 1,419 points owing to domestic selling, particularly by mutual funds (USD30mn) and individuals (USD7.8mn)

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 86.0
Target Price: PKR 132

Attock Cement (ACPL) – BUY 
Current Price: PKR 171.9
Target Price: PKR 315

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 55.97
Target Price: PKR 90

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.36
Target Price: PKR 25

Attock Petroleum (APL) – BUY 
Current Price: PKR 585.0
Target Price: PKR 796

Aisha Steels Limited (ASL) – BUY 
Current Price: PKR 16.2
Target Price: PKR 30

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 79.7
Target Price: PKR 156

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 41.2
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 56
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 101.1
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 136.8
Target Price: PKR 262.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 60.0
Target Price: PKR 83

ENGRO Foods Limited (EFOODS) – BUY 
Current Price: PKR 78.95
Target Price: PKR 138.66

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 280.8
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 30.10
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 28.6
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 34.0
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 79.4
Target Price: PKR 122.0

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 27.84
Target Price: PKR 100.00

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 167.9
Target Price: PKR 253.08

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 264.4
Target Price: PKR 428

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 508.5
Target Price: PKR 912.2

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 32.50
Target Price: PKR 52

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 86.48
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 106.0
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,699.2
Target Price: PKR 2,214.3

Inter Steel Limited (ISL) – BUY 
Current Price: PKR 103.5
Target Price: PKR 178

Kohat Cement (KOHC) – BUY
Current Price: PKR 132.0
Target Price: PKR 353

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 7.2
Target Price: PKR 10.2

Lalpir Power (LPL) – BUY 
Current Price: PKR 21
Target Price: PKR 32

Lucky Cement (LUCK) – BUY 
Current Price: PKR 484.2
Target Price: PKR 1,159.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,409.0
Target Price: PKR 2,051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 205.2
Target Price: PKR 250

Meezan Bank (MEBL) – BUY 
Current Price: PKR 67
Target Price: PKR 91

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 66.3
Target Price: PKR 179.0

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 1,207.6
Target Price: PKR 1,675.3

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 48.3
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 323
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 59.2
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 37.5
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 139.3
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 44.0
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 145.0
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 67.1
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 71.1
Target Price: PKR 161

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 21.32
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 9.05
Target Price: PKR 16

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 168.0
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 452.9
Target Price: PKR 800.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 335.1
Target Price: PKR 490

Pakistan Telecommunication (PTC) – BUY 
Current Price: PKR 13.56
Target Price: PKR 19.00

Roshan Packages Limited (RPL) – BUY 
Current Price: PKR 44.3
Target Price: PKR 87

Tariq Glass (TGL) – BUY 
Current Price: PKR 95.1
Target Price: PKR 128

United Bank Limited (UBL) – BUY 
Current Price: PKR 189.7
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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