Pakistan Stock Exchange (PSX) Weekly Analysis 6 Jan, 2018


Top gainers of last week were: IBFL, BOP, MLCF, UBL, FABL, HBL, AKBL, LUCK, FCCL and NCL.

Top losers of last week were: NCPL, ABOT, ARM, NATF, PMPK, COLG, PICT, SNBL, NPL and EFUG.

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

The Pakistan Stock Exchange (PSX) market index rose by 2,052pts WoW (5.1%) to 42,524pts led by January Effect on fresh foreign buying. KSE-100 index has closed on 42,524 by gaining 2,052 points or 5.1 %.

According to experts of, following news have played vital role in Karachi Stock Market index movement:

  • The market participants displayed a resilient behaviour as they continued to support the bullish momentum triggered in the last week of the preceding year, despite a strong statement conveyed by the US President against Pakistan during this week.
  • Foreign participants maintained a firm stance on the buy side, with cumulative FIPI amounting to USD 17mn during the week, whereas the local investors took an exit as they saw a window of opportunity after a prolonged bearish session
  • Banking sector gained by 5.06% during the week, while attracting an impressive turnover of 24mn shares traded on an expectation of improved earnings triggered by the much-anticipated uptick in the interest rates by the SBP
  • The cement sector also attracted the spotlight as off-take for the 1HFY18 registered an increase of 11%Y/Y, which was entirely led by an improvement in local dispatches; the sector soared by 5.5% W/W while attracting a turnover of 27mn shares traded
  • CPI inflation up 4.57 percent in December 2017
  • The country’s circular debt has reached Rs 525 billion due to highly mismanaged power sector after top positions of public sector's power companies have been occupied by Power Ministry's officials
  • Atlas Honda Ltd (AHL) on Tuesday increased the price of three models of its motorcycles by Rs500-1,000. With an addition of Rs1,000, effective from Jan 1
  • First week of New Year saw market to rally 5%, which is the highest in last 15 years
  • Volumes during the week stayed flat this week declining by 1% WoW while traded value fell 3% WoW
  • Economic Coordination Committee (ECC) of the cabinet approved financing plan of 1.2bcfd capacity of RLNG pipeline project from Karachi to Lahore. This project will be undertaken by Sui Northern Gas Pipeline (SNGP) and Southern Gas Pipeline (SSGC)
  • Fertilizers returned 4.3%WoW on increase in retail level Urea & DAP prices

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 89.2     
Target Price: PKR 118

Attock Cement (ACPL) – BUY 
Current Price: PKR 182.3 
Target Price: PKR 261

Attock Petroleum (APL) – BUY 
Current Price: PKR 554.5     
Target Price: PKR 729

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 96.8     
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 45.7     
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 62.9 
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 111.1     
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 143.6     
Target Price: PKR 194

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 286.7
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 31.3
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 27.8
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 36.8
Target Price: PKR 50

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 185.9     
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 515.8 
Target Price: PKR 707

Current Price: PKR 93.4     
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,759.4
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 58       
Target Price: PKR 85.00

Kohat Cement (KOHC) – BUY
Current Price: PKR 143.8   
Target Price: PKR 248

Lucky Cement (LUCK) – BUY 
Current Price: PKR 574.9     
Target Price: PKR 785

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,497.8
Target Price: PKR 2,177

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 217.8
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 77   
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 50.2
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 50.5
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 30.4 
Target Price: PKR 50

Nishat Mills (NML) – BUY 
Current Price: PKR 157.9
Target Price: PKR 169

Nishat Power (NPL) – BUY 
Current Price: PKR 33.1 
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 170.1     
Target Price: PKR 193

Pak Elecktron (PAEL) – BUY 
Current Price: PKR 52.3   
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 68.6     
Target Price: PKR 109

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 614.6
Target Price: PKR 677

Power Cement (POWER) – BUY 
Current Price: PKR 9.5
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 214.9
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 511.4
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 300.3     
Target Price: PKR 392

Tariq Glass (TGL) – BUY 
Current Price: PKR 97.1 
Target Price: PKR 122

United Bank Limited (UBL) – BUY 
Current Price: PKR 210.4
Target Price: PKR 238

Thank you very much for reading this article.

NOTE: The information posted in this blog /forum ( is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum ( 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 (  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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