Pakistan Stock Exchange (PSX) Weekly Analysis 23 Dec, 2017

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

Top gainers of last week were: ACPL, COLG, UBL, PGF, EFUG, SHFA, CSAP, ABOT, HBL and INIL.

Top losers of last week were: AICL, IBFL, THALL, NESTLE, TRG, POL, JGICL, HUMNL, BATA and NATF.

Top Volume Leaders of last week: TRG, KEL, BOP, DGKC, PAEL, FCCL, NBP, ENGRO, HBL  and ISL.

The Pakistan Stock Exchange (PSX) market index showed intense volatility throughout the week, after going down to as low as 37,768 points but rallied towards the end of the week, closing the market at 39,470 points (↑824 points and 2.13% W/W). KSE-100 index has closed on 39,471 by gaining 825 points or 2.13 %. While KSE-30 index has closed on 19,779 by gaining 499 points or 2.58 %.

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

  • The average volume traded on the all-share index was recorded at 222.85mn shares, while 98.49mn were traded on the main board
  • Foreigners sold US$5.4mn during the week vs. selling of US$8.9mn last week. On the local front, Individual were net buyers of US$2.0mn worth of shares whereas Banks were net sellers of US$4.5mn
  • The late surge in buying this week could be attributed to Nawaz Sharif’s announcement of support for his brother to be PML-N’s next Prime Minister Candi-date. This announcement, coupled with the Senate’s decision to pass the delimitation bill, which will pave the way for the elections to be held on time next year, served as positive triggers for the market. This helped raise investor sentiments and paved the way for a buying spree. Foreign investors were net buyers in the previous week, as FIPI showed a net inflow of USD1.84mn
  • Following China’s announcement of cuts in their steel production in the preceding month, expectations of higher global steel prices have caused a massive buying spree in the steel sector, with a W/W change of 4.70%
  • The banking sector came out as the top performing sector, showing a change of 5.40% W/W. Individual stocks from the aforementioned sector which were among the top 10 performing stocks included UBL (↑ 11.21% W/W) and HBL (↑ 6.63% W/W). The better performance was largely due to expectations of an in-crease in the interest rate after the recent PKR depreciation
  • Asian Development Bank (ADB) on Monday approved $480 million in three loans to improve various economic sectors of the country’s biggest province Punjab
  • Approval of US$825mn loan by World Bank for Pakistan
  • K-Electric has planned to invest Rs 335 billion by 2023 in power production and distribution sectors of Karachi
  • Textile exports increased around eight percent to $5.51 billion during the first five months of the current fiscal year of 2017/18 as value-added sector posted a decent growth
  • United Motors revealing its plan to launch 800cc car and pickup in co-operation with Chinese bike maker-‘United Auto Industries'


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 81.50 
Target Price: PKR 90

Attock Cement (ACPL) – BUY 
Current Price: PKR 170.28
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 46.21
Target Price: PKR 83

Askari Bank Limited (AKBL) – BUY 
Current Price: PKR 18.89 
Target Price: PKR 25

Attock Petroleum (APL) – BUY 
Current Price: PKR 499.29 
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 87.2
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 41.62 
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 57.09
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 95.88 
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 121.17 
Target Price: PKR 194

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR  64.5
Target Price: PKR  79.0

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 277.36
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 30.20
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 22.56
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 34.24
Target Price: PKR 50

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 76.88 
Target Price: PKR 87

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 190.26
Target Price: PKR 239

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 21.14
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 230.48   
Target Price: PKR 325.95

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 170.07 
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 506
Target Price: PKR 707

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 34
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 68.75
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 91.40 
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,680.53
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 53.99     
Target Price: PKR 65.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 122.11
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 21.18
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 475.18 
Target Price: PKR 785

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,411
Target Price: PKR 2,177

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 202.45
Target Price: PKR 230

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 65.00
Target Price: PKR 80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 68.77 
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 46.70
Target Price: PKR 52

National Foods (NATF) – BUY 
Current Price: PKR 300
Target Price: PKR 395

Nishat Chunian (NCL) – BUY 
Current Price: PKR 46.46
Target Price: PKR 58

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 29.12
Target Price: PKR 33

Nishat Mills (NML) – BUY 
Current Price: PKR 146.35
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 30.06
Target Price: PKR 35

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 162.14 
Target Price: PKR 175

Pak Elecktron (PAEL) – BUY 
Current Price: PKR 47.5
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 54.94 
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 21.74
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 588.21
Target Price: PKR 677

Power Cement (POWER) – BUY 
Current Price: PKR 8.69
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 198.40
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 482.22
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 289.77 
Target Price: PKR 392

Tariq Glass (TGL) – BUY 
Current Price: PKR 90
Target Price: PKR 122

United Bank Limited (UBL) – BUY 
Current Price: PKR 182.80
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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