Pakistan Stock Exchange (PSX) Weekly Analysis 21 Jan, 2018

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

Top gainers of last week were: CHCC, DGKC, EFUG, MTL and SEARL.

Top losers of last week were: IBFL, NRL, JDWS, ATRL, and BATA.

Top Volume Leaders of last week: ANL, TRG, DCL, SSGC and WTL.

The Pakistan Stock Exchange (PSX) market index was bullish, gathering steam and cutting through political noise, backed by conducive fundamentals hinting at a strong results season, and renewed interest from mutual funds, FPI. KSE-100 index has closed on 44,179 by gaining 1245 points or 2.90 % while KSE-30 index has closed on 22,392 by gaining 721 or 3.33 %.

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

  • Index was driven by Banks, Cements, Fertilizers and Autos contributing 335pts, 260pts, 157pts and 112pts, respectively.
  • Banks returned 2.6%WoW led by increase in expectation of higher inflation owing to PKR depreciation and resultant increase in interest rates. However the real thrust came from foreign buying which was largely concentrated in Banks, followed by Cements
  • Cements gained 6.4%WoW on the back Supreme Court’s allowance of multi-story buildings (up to six-storeys) in Karachi and continued regulatory delays on cement expansions in Punjab
  • Autos returned 5.7%WoW on regulatory controls on automobile imports under gifts scheme, which can significantly add to demand for locally assembled players
  • Foreigners remained net buyers as they mopped up shares worth USD33.1mn during the week, taking 2018TD net buying to USD82.5mn
  • CDWP approves 20 development projects worth PKR80.6bn
  • Given result season will officially kick off in the next week, foreign as well as local participation is expected to remain upbeat
  • Media reports circled, over a likely export package to be introduced by PM Abbasi reducing industrial electricity, gas tariffs amongst other incentives, additionally the PM hinted at an amnesty scheme for individuals as well
  • SECP rationalized licensing regime for securities brokers relaxing the previously disparate regime
  • The FBR firstly imposed stringent remittance-linked conditions for used car imports, eventually loosening them towards the end of the week
  • Opposition parties united with the Pakistan Awami Tehreek to hold a political rally in Lahore, calling for the ouster of the current regime in Punjab based on the Model Town incident and resulting inquiry findings
  • World Bank puts US$250mn policy loan for Pak on hold

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 93.01       
Target Price: PKR 118

Attock Cement (ACPL) – BUY 
Current Price: PKR 189.7   
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 57.38     
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 588       
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 98.2       
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 47.6       
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 64.6   
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 127.4       
Target Price: PKR 140

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 149.8       
Target Price: PKR 194

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 306.17
Target Price: PKR 359

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 32.26
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 27.9 
Target Price: PKR 36

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 39.95
Target Price: PKR 50

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 28.31
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 281.19       
Target Price: PKR 325.95

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 207.1       
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 549   
Target Price: PKR 707

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 79.03       
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 96       
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,850.7 
Target Price: PKR 2,069

Kot Addu Power Company (KAPCO) – BUY
Current Price: PKR 57.46         
Target Price: PKR 64.38

Kohat Cement (KOHC) – BUY
Current Price: PKR 159.5     
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 22       
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 619.9       
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,500
Target Price: PKR 2,177

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 230.27 
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 83     
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 315.63
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 47.94
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 53.84
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 30.73   
Target Price: PKR 50

Nishat Mills (NML) – BUY 
Current Price: PKR 167.65
Target Price: PKR 178

Nishat Power (NPL) – BUY 
Current Price: PKR 32.62   
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 169.1       
Target Price: PKR 193

Pak Elecktron (PAEL) – BUY 
Current Price: PKR 57.9   
Target Price: PKR 88

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 69.8       
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 21.83       
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 614.37
Target Price: PKR 677

Power Cement (POWER) – BUY 
Current Price: PKR 9.31
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 213.01
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 532.45
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 307.1       
Target Price: PKR 392

Tariq Glass (TGL) – BUY 
Current Price: PKR 98.3   
Target Price: PKR 122

United Bank Limited (UBL) – BUY 
Current Price: PKR 213.9 
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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