Pakistan Stock Exchange (PSX) Weekly Analysis 10 Dec, 2017

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

Top gainers of last week were: PAKT, NESTLE, BNWM, PMPK, SCBPL, NATF, IBFL, KEL, THALL and IGIIL.

Top losers of last week were: SNGP, KAPCO, NPL, NCPL, PGF, SSGC, HUBC, HASCOL, PIBTL and ATRL.

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

The Pakistan Stock Exchange (PSX) market index continued the bearish trend from last week, declining by 2.3% (930pts) to close above 39k mark, its lowest weekly closing in 74 weeks. KSE-100 index has closed on 39,080 by losing -930 points or -2.33 %. While KSE-30 index has closed on 19,491 by decreasing -618 points or -3.07 %.

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


  • The tribunal’s report on Model town incident, though initially ignored by the market, later on sent shockwaves within the investor community ramming the index into a heavy red zone
  • OGRA’s adamant stance towards the implementation of proposed tariff regime for gas utilities dragged SNGP/SSGC down by 12.7/12.3%WoW while PSO/KAPCO slid 7.26/13.94% WoW as news circulated regarding PSO suspending fuel oil imports further aggravated by the resumption of second LNG terminal (after a brief breakdown)
  • Kot Addu Power (KAPCO) and Dawood Hercules (DAWH), in separate notices to the bourse, have mutually agreed to terminate the share purchase agreements ( SPA) and further processing of the transaction for the acquisition of Hub Power ( HUBC)
  • PSMC rallied 4.4%WoW as the auto assembler announced the launch of 4 new products including the auto gear shift version of Cultus and Mega Carry
  • US defense secretary Mattis meeting the high-ups of Pakistan acknowledging the efforts of Pakistan against war on terror, later re-iterated by the Pentagon’s statement as well
  • PSX proposing to widen existing scrip-level circuit breakers (CBs) to maximum 15%
  • Sindh notifying an additional subsidy of PkR9.3/kg on sugar exports
  • Foreign reserves jumping to US$21bn after the country received US$2.5bn through auction of Sukuk and Eurobond
  • Foreigners and Individuals were net sellers on Friday offloadingUSD1.7mn and USD5.2mn worth of shares. Companies, Banks and Mutual Funds mopped up the shares with on average USD2mn of buying each. Aggregate buying during the week totaled USD1.0mn by foreigners compared to USD39.5mn outflow the previous week
  • The dollar closed at 106 at day end possibly due to a liquidity injection by the State Bank
  • Trading volumes jumped up 26% during the week to 141mn shares while traded value increased to USD54mn; a 14% jump
  • Faced with huge current account deficit, the government may also launch ‘Overseas Pakistanis Savings Certificates’ to tap the pool of USD30bn held by Pakistanis living abroad
  • Cement sales up 6% YoY in Nov-2017
  • The Federal and Sindh governments on Tuesday joined hands with K-Electric (KEL) for an upward revision in Multi-Year Tariff (MYT) for seven years to be effective from July 2016 to June 2023, aimed at making the company financially viable by lowering recovery and losses benchmarks


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 78.98 
Target Price: PKR 90

Attock Cement (ACPL) – BUY 
Current Price: PKR 166.5
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 50.13
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 544.86 
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 88.31 
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 38.65 
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 55.5
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 92.04 
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 131.77 
Target Price: PKR 194

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 260.19
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 28.83
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 24.44
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 34.34
Target Price: PKR 50

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 76.56 
Target Price: PKR 87

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 182.86
Target Price: PKR 239

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 23.31
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 253.46     
Target Price: PKR 325.95

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 155.92 
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 532
Target Price: PKR 707

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 33.25
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 71.01
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 94.07 
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,699
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 51.01     
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 125.5
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.15
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 493.18 
Target Price: PKR 785

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,450.6
Target Price: PKR 2,177

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 199.2
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 69.65 
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 44.03
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 334
Target Price: PKR 395

Nishat Chunian (NCL) – BUY 
Current Price: PKR 46.15
Target Price: PKR 53

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 28
 Target Price: PKR 33

Nishat Mills (NML) – BUY 
Current Price: PKR 142.48
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 30.0
Target Price: PKR 35

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 155.60 
Target Price: PKR 175

Pak Elecktron (PAEL) – BUY 
Current Price: PKR 48.2 
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 57.97 
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 22.25
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 605
Target Price: PKR 683

Power Cement (POWER) – BUY 
Current Price: PKR 8.34
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 196.46
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 501.55
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 287.05 
Target Price: PKR 392

Tariq Glass (TGL) – BUY 
Current Price: PKR 99.1
Target Price: PKR 122

United Bank Limited (UBL) – BUY 
Current Price: PKR 168.18
Target Price: PKR 238

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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