Pakistan Stock Exchange (PSX) Weekly Analysis 10 Mar, 2018

BUY recommendations are:  ACPL, APL, ASTL, BAFL, BAHL, CHCC, DGKC, ENGRO, EFERT, FATIMA, FCCL, FFBL, GWLC, HASCOL, HBL, HCAR, HUBC, INDU, KOHC, LPL, LUCK, MARI, MCB, MLCF, NBP, NCL, NCPL, OGDC, PIOC, PPL, PSMC, PSO, and UBL.

Top gainers of last week were: BATA, COLG, BAFL, IGIIL, NPL, OLPL, ASTL, ATLH, NRL and SSGC.

Top losers of last week were: POML, TRG, BOP, PAEL, IBFL, CHCC, BNWM, CSAP, CPPL and EFOODS.

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

The Pakistan Stock Exchange (PSX) market index continued to lose points during the outgoing week as IMF expressed concern over Pakistan’s weakening macroeconomic situation. KSE-100 index has closed on 43,011 by losing 729 points or -1.67 % while KSE-30 index has closed on 21,611 by losing 448 or -2.03 %.

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

  • Political uncertainty including ongoing accountability court’s proceedings in the trial against the Sharif family and developments surrounding Senate Chairman Election continued to take a toll on market performance
  • Political ambiguity has reduced with timely senate elections, weakening economic indicators will remain a pressing concern for investors
  • Trading activity at the bourse remained weak, where avg. daily trading volume contracted to 152.05mn shares (down 16.07%WoW)
  • Federal gov’t extending the tenure of Accountability Court-I Judge Mohammad Bashir, who is currently hearing corruption references against Sharif family
  • Cement sector registering 11%YoY dispatches growth in Feb’18, with 8MFY18 cement offtake reaching 30.10mn tons (up 14%YoY)
  • SC temporarily allowing the federal gov’t to collect recently imposed regulatory duty until its final decision (previously halted for a brief period by Sindh High Court)
  • On the macro front, country’s total foreign exchange reserves declined to USD18.3bn owing to external debt repayments
  • ECC approving a plan to obtain PkR80bn of bank loan to retire part of the longstanding power sector’s circular debt
  • Dawood Hercules to divest Hubco for PKR17bn investment
  • Pakistan in talks with China to borrow USD1bn
  • Renault suffers setback as PSM refuses to provide allocated land
  • The government on Wednesday approved more than Rs93 billion worth of financing plan, mostly through loans, for the energy sector to avoid load shedding and 6.1 million tonnes of procurement target for wheat season 2017-18
  • Oil and gas sector eroded 127 points from index in four sessions of the week due to declining crude oil prices; however on the last trading session (Friday) sector added 72 points to index, as Pakistan Petroleum Limited (PPL) notified exchange regarding its new discovery in Adhi block (OGDC and POL are also stakeholders in Adhi Block
  • Foreigners were net sellers of US$3.9mn worth of shares during the week vs. selling of US$11.4mn during last week. On the local front, Insurance were net buyers of US$8.2mn whereas Mutual funds were net sellers of US$6.6mn


Following are few BUY recommendations:

Attock Cement (ACPL) – BUY 
Current Price: PKR 189.4       
Target Price: PKR 261

Attock Petroleum (APL) – BUY 
Current Price: PKR 570           
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 93.88           
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 49.01       
Target Price: PKR 55

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 69       
Target Price: PKR 75

Cherat Cement (CHCC) – BUY 
Current Price: PKR 130   
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 146.65 
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 295.88 
Target Price: PKR 348.84

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 69.04   
Target Price: PKR 79.94

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 30.70
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 27.26       
Target Price: PKR 36

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 36.54       
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 25.57
Target Price: PKR 58

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 266.08
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 204.66           
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 487.8       
Target Price: PKR 707

HUBCO (HUBC) – BUY 
Current Price: PKR 97           
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,726.9       
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 155.8   
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 20.8             
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 633.26             
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,418             
Target Price: PKR 2040

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 209.46     
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 71.93           
Target Price: PKR 107

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 46.98
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 47.78
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 29.43
Target Price: PKR 50

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 164.1           
Target Price: PKR 193

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 70.51           
Target Price: PKR 109

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 201.3   
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 484.41
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 293.78           
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 189.06     
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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