Pakistan Stock Exchange (PSX) Weekly Analysis 31 Dec, 2017

BUY recommendations are:  ABL, ACPL, AICL, AKBL, APL, ASTL, BAFL, BAHL, CHCC, DGKC, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, 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: KOHC, CHCC, PIOC, NPL, NCPL, AICL, SSGC, MUREB, FCCL, and ARM.

Top losers of last week were: IBFL, JDWS, COLG, HUMNL, POML, SNBL, PIBTL, SNGP, HBL and NCL.

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

The Pakistan Stock Exchange (PSX) market index closes 2017 on a happy note. KSE-100 index has closed on 40,471 by gaining 1000 points or 2.54 %. While KSE-30 index has closed on 20,216 by increasing 437 points or 2.21 %.

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

• Local companies and mutual funds turned out to be largest buyers with US$8.2mn and US$13mn worth of net buying, respectively
• Euphoria was also seen in trading activities with average traded volumes improving to 215mn shares/day (+55% WoW) and average traded value increasing to US$79mn/day (+53% WoW) as most of the buying was observed in heavyweight stocks 
• The outgoing week marks the end of worst year in terms of market performance since 2008 with KSE-100 index plummeting by 15% (US dollar terms: -20%) to close at 40,471 pts
• Tightening government restrictions on import of furnace oil
• OGDCL’s discovery at Dhok Hussain
• OGRA’s recommendations to increase fuel prices by Rs4-10/liter
• Indus Motor (INDU) increasing prices with immediate effect
• Local E&Ps came under limelight due to an increase in international crude prices to the level not seen since the mid of 2015
• Meanwhile, select names in steel, cement, and automobile sectors were seen advancing upon notable price revisions, principally in anticipation of the New Year as well as increased input cost from recent devaluation of PKR against the greenback
• ECC approving the FBR’s proposal to reduce RD on certain raw material items and allowing export of wheat (3m tons) and sugar (0.3m tons)
• SECP reportedly making amendments in MTS regulations, which would allow category B securities available for purchase on credit
• Fed gov’t restricting import of furnace oil in a bid to extend relief to the domestic refining sector
• GoP releasing another PkR2.5bn under the PM’s export package, where total released refunds now stand at PkR16.5bn against total claims of PkR23.5bn
• Appointment of Miftah Ismail as the as Adviser to the Prime Minister on Finance, Revenue and Economic Affairs

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 84.98   
Target Price: PKR 118

Attock Cement (ACPL) – BUY 
Current Price: PKR 170
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 181.01
Target Price: PKR 83

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.31
Target Price: PKR 25

Attock Petroleum (APL) – BUY 
Current Price: PKR 523.08   
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 92.66   
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 42.50   
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 58.36 
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 110.91   
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 133.72   
Target Price: PKR 194

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 274.75
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 30.88
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 25.01
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 35.54
Target Price: PKR 50

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 79.11   
Target Price: PKR 87

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 188.30
Target Price: PKR 239

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 24.11
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 247.04     
Target Price: PKR 325.95

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 167.09   
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 508
Target Price: PKR 707

Habib Metro Bank (HMB) – BUY 
Current Price: PKR 34.50
Target Price: PKR 50

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 71.00
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 91.00   
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,680
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 53.90       
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 141.96 
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.53
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 517.41   
Target Price: PKR 785

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,423.2
Target Price: PKR 2,177

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 212.32 
Target Price: PKR 230

Meezan Bank (MEBL) – BUY 
Current Price: PKR 67.10   
Target Price: PKR 80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 68.44   
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 324.16
Target Price: PKR 395

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 48.56
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 45.77
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 32.91 
Target Price: PKR 50

Nishat Mills (NML) – BUY 
Current Price: PKR 149.50
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 34 
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 162.79   
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 63.12   
Target Price: PKR 109

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 22.13
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 594.26
Target Price: PKR 677

Power Cement (POWER) – BUY 
Current Price: PKR 8.74
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 205.91
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 497.77
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 293.11   
Target Price: PKR 392

Tariq Glass (TGL) – BUY 
Current Price: PKR 95 
Target Price: PKR 122

United Bank Limited (UBL) – BUY 
Current Price: PKR 187.97
Target Price: PKR 238

Thank you very much for reading this article.

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Written by: Rana Khuram