Pakistan Stock Exchange (PSX) Weekly Analysis 31 Mar, 2018

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

Top gainers of last week were: KEL, AICL, PMPK, FABL, JGICL, EFOODS, PIBTL, FFC, AKBL and NCL.

Top losers of last week were: SHFA, EFUG, SNGP, HUMNL, SSGC, ATLH, HBL, KTML, ASTL and POML.

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

The Pakistan Stock Exchange (PSX) market index managed to close in green. KSE-100 index has closed on 45,560 by gaining 530 points or 1.2%.

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

• State Bank of Pakistan (SBP) in its monetary policy announcement maintained its Policy Rate at 6%, which was contrary to expectations. As per survey conducted by Bloomberg, 13 out of 22 economist had forecasted 25bps hike in policy rate while 6 economist predicted 50bps hike. The remaining 3 economist anticipated a status quo 
• Forex reserves fall to USD17.95bn
• FBR to miss annual tax target by PKR100bn
• Ghandhara Nissan announced its green-field investment to launch Datsun cars in Pakistan with an investment of PKR4.5bn over the next 4 years
• Private sector loans reach all-time high of PKR4.89trn in Feb’18
• Rickshaw maker Sazgar gets approval for car manufacturing plant
• In light of currency depreciation HCAR increased prices for Civic and City by PKR100,000 each and PKR20,000 for BRV
• K-Electric (KEL) remained the talk of the town as Shanghai Electric submitted fresh intentions to acquire majority stake in the company
• News of potential increase in prices of Urea by Rs100/bag if government decides to remove subsidy on the fertilizer
• Imposition of anti-dumping duties on import of certain uncoated writing/printing paper
• TRG the retail darling was hammered as the company unveiled its plans to delay listing of its key subsidiary IBEX Limited on the NASDAQ
• Kapco challenges Rs28bln of power outage fine in international court

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 98.47
Target Price: PKR 122

Attock Cement (ACPL) – BUY 
Current Price: PKR 190.36
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 58
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 574.55 
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 92
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 128.3
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 163.11 
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 309.65
Target Price: PKR 348.84

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 69.09
Target Price: PKR 79.94

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 32.84
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 29.25 
Target Price: PKR 36

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 41.84
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 26.34
Target Price: PKR 58

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 191.67
Target Price: PKR 231

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 265.44
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 212.15 
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 477.3
Target Price: PKR 707

Habib Metro (HMB) – BUY 
Current Price: PKR 42.91
Target Price: PKR 50

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 105.19
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 100.50
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,742.25 
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 160.49 
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 21.24 
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 689.62 
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,480
Target Price: PKR 2040 

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 220.13       
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 70.83
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 310
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 50.06
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 51.73
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 30.62
Target Price: PKR 50

Nishat Power (NPL) – BUY 
Current Price: PKR 32.32
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 174.08 
Target Price: PKR 193

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 70.04 
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 21.28
Target Price: PKR 34

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 650.56
Target Price: PKR 714

Power Cement (POWER) – BUY 
Current Price: PKR 9.38
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 212.84
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 477.68
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 321.49 
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 208.89         
Target Price: PKR 238

Thank you very much for reading this article.

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Written by: Rana Khuram