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

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

Top gainers of last week were: PAKT, TRG, IBFL, COLG, BATA, PIBTL, SHFA, ASTL, HMB and HUMNL.

Top losers of last week were: NPL, DAWH, BNWM, SNGP, ENGRO, KEL, NRL, PSO, ABOT and GADT.

Top Volume Leaders of last week: TRG, SSGC, SNGP, KEL, ENGRO, PAEL, PTC, MLCF, BOP, and OGDC.

The Pakistan Stock Exchange (PSX) market index retracted flat on the week's close, with the benchmark KSE-100 index shedding 142 points WoW to close at 40,844 on the back political uncertainty and reduction in PSX’s weight in the MSCI. KSE-100 index has closed on 40,844 by losing 592 points or 1.43 %. While KSE-30 index has closed on 20,663 by decreasing 440 points or -2.09%.

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


  • Unsettling news over timing of elections, ongoing court cases (involving ex-Prime Minister, Finance Minister and Imran Khan) etc. made perfect cocktail to keep investors wary of making fresh investments 
  • Matters on macroeconomic front also remained unexciting as released trade deficit numbers for 4MFY18 posted a whopping increase of 31.24% YoY mainly on account of dull exports and rising imports
  • Keeping weak outlook into consideration, mutual funds and banks turned into net sellers of US$16mn and US$4mn worth of equities, respectively
  • Rs50/bag increase in locally available DAP prices
  • Both ENGRO and DAWH (parent company for ENGRO) witnessed selling pressure as MSCI demoted the stock from its Emerging Market (Standard) Index to the Small Cap Series
  • DAWH also underwent additional streak of negative sentiments as Kot Addu Power Company (KAPCO) last week announced that it may not go ahead with the stake purchase of Hub Power (HUBC) from DAWH
  • Similarly, rest of the stocks removed from the MSCI small-cap index came in under a beating, with SHEL losing the highest value (4.7%), followed by PSMC (↓4.61%) and FEROZ (↓2.43%)
  • On economic front, Pakistan Bureau of Statistics (PBS) announced that Trade Deficit widened by 36%YoY/9%MoM to USD3.0bn in Oct-17 owing to jump in imports during the period. Similarly for 4MFY18, Trade Deficit was 31%YoY higher at USD12.1bn due to continued trend of significantly faster growth in imports relative to that of exports
  • Encouragingly, foreign investors turned net buyers during the week as they mopped shares worth USD 1.1 million
  • Sales of locally produced cars, vans, light commercial commercials (LCVs) and jeeps jumped by 32 per cent to 83,809 units in the first four months (July-October) of this fiscal year
  • Sugar Advisory Board (SAB), an inter-provincial body, proposed the government to allow sugar export of 1.5 million tonnes as sweetener surplus may pile up to three million tonnes by the end of the current crushing season, official papers revealed on Thursday
  • ADB unveiling its latest country operations for Pakistan for 2018‐20 with resources available amounting to US$4.7bn including US$1bn for hydropower resources
  • American Congress authorizing up to US$700mn in CSF to reimburse Pakistan for operations in Afghanistan
  • The King of Saudi Arabia plans to step down and announce his son as his successor next week, a source close to the country's royal family has exclusively told DailyMail. The move is seen as the final step in Prince Mohammed bin Salman's power grab, which began earlier this month with the arrests of more than 40 princes and government ministers in a corruption probe


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 81.09
Target Price: PKR 118

Attock Cement (ACPL) – BUY 
Current Price: PKR 173.21     
Target Price: PKR 299

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 56.89
Target Price: PKR 88

Attock Petroleum (APL) – BUY 
Current Price: PKR 600.07   
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 97.7
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 40.54     
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 56.80
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 100.33   
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 138.22   
Target Price: PKR 262.0

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 269.64
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 31.63
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 28.68   
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 34.05
Target Price: PKR 51.1

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 82.6
Target Price: PKR 110

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 23.43
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 284.12   
Target Price: PKR 369

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 167.95     
Target Price: PKR 248

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 573.8
Target Price: PKR 707

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 33.99
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 82.99 
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 104.49
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,751     
Target Price: PKR 2,218

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 65.08 
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 143.98
Target Price: PKR 315

Lalpir Power (LPL) – BUY 
Current Price: PKR 21.99
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 511.46   
Target Price: PKR 1,046.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,590
Target Price: PKR 2,051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 202.90
Target Price: PKR 244

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 72.66   
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 45.42
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 310
Target Price: PKR 395

Nishat Chunian (NCL) – BUY 
Current Price: PKR 47.64
Target Price: PKR 53.8

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 35.45   
Target Price: PKR 47

Nishat Mills (NML) – BUY 
Current Price: PKR 145.77
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 38.85
Target Price: PKR 46.9

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 155.56
Target Price: PKR 182

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 57.1
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 62.95
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 22.61
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 625.32
Target Price: PKR 683

Power Cement (POWER) – BUY 
Current Price: PKR 8.32
Target Price: PKR 16

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 519.40
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 335.49   
Target Price: PKR 392

Pakistan Telecommunication (PTC) – BUY 
Current Price: PKR 12.72
Target Price: PKR 19.00

Tariq Glass (TGL) – BUY 
Current Price: PKR 101.7
Target Price: PKR 128

United Bank Limited (UBL) – BUY 
Current Price: PKR 171.99
Target Price: PKR 250

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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