Pakistan Stock Exchange (PSX) Weekly Analysis 9 April, 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, POWER, PPL, PSMC, PSO, and UBL.

Top gainers of last week were: MLCF, IBFL, BATA, POL, PAEL, GADT, FCCL, FML, MTL and ISL.

Top losers of last week were: SCBPL, PSX, PAKT, BOP, OLPL, DAWH, FATIMA, MUREB, SPWL and EFUG.

Top Volume Leaders of last week: EPCL, FCCL, KEL, TRG, PAEL, MLCF, BOP, ISL, BAFL, and SNGP.

The Pakistan Stock Exchange (PSX) market index extended its gains during the week at 46,638 level. KSE-100 index has closed on 46,638 by gaining 1078 points or 2.36 %. While KSE-30 index has closed on 23,460 by gaining 659 points or 2.89 %.

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

  • Central Bank’s decision to maintain policy rate at 6% citing that the impact of recent policy measures are yet to unfold
  • Participants largely ignored concerns raised by the Parliamentary committee over the recent delimitation exercise which could potentially lead to a delay in elections
  • Commerce division considering further reduction in custom duties on raw materials and removing regulatory duties on 57 tariff lines
  • Budget proposals flowing in where SECP proposed a flat rate of 15%/20% CGT for filers/non-filers for holding period of up to 3 years and Pakistan Banks’ Association pushing to abolish the super tax
  • Foreign reserves declining by US$152mn over the week to stand at US$17.796bn on Mar 30’18
  • Cement players sustained an upward trajectory as the passing week witnessed another price hike of Rs10/bag, taking cumulative price increase up to Rs60/bag (price increase varying in different cities) 
  • International Islamic Trade Finance Corp lending US$3.285bn to finance trade activities
  • WB approving US$145mn to expand home ownership are expected to extend some support to the foreign exchange reserves ahead
  • During the outgoing week, cement and banking sector emerged as the top performers, contributing 195/194 points respectively, as investors sentiments improved in cement sector post recent jump in cement prices by Rs50/bag and investors expectations of passing of amnesty flows through banking channel
  • Prominent gainers during the week included POL that advanced on rumors of a likely discovery in exploration efforts at Joyamair and Khaur, while cement stalwart MLCF gathered sizeable gains on account of value oriented buying. PAEL was able to recover some losses seen earlier as the company reportedly increased prices on its consumer appliances passing on the impact of the recent depreciation in PKR’s value 
  • The government Saturday decided to slash prices of petrol and diesel to provide relief to consumers in April 2018. The government has reduced prices of petrol and diesel by Rs 2.07 and Rs 2.00 per liter, respectively for April 2018. However, it decided to maintain the prices of kero-sene oil and light diesel oil at the level of March 2018. The new prices of petrol have been set at Rs 86 per liter and high speed diesel (HSD) at Rs 96.45 per liter. The prices of kerosene oil and light diesel oil (LDO) have been maintained at Rs 76.46 per liter and Rs 65.30 per liter, respectively
  • Fauji Fertilizer Company (FFC) planned to invest $39 million in Thar Energy Limited (TEL), which is setting up 330 megawatts of coal-fired power project, a bourse filing


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 99.61
Target Price: PKR 122

Attock Cement (ACPL) – BUY 
Current Price: PKR 189.88
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 58.06
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 606.60
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 91.73
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 134.8
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 167.41 
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 318.65
Target Price: PKR 348.84

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 70.65
Target Price: PKR 79.94

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 32.24
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 31.22 
Target Price: PKR 39

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 43.62
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 27.56
Target Price: PKR 58

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 198.15
Target Price: PKR 231

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 267.08
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 218.99 
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 481
Target Price: PKR 707

Habib Metro (HMB) – BUY 
Current Price: PKR 44.54
Target Price: PKR 50

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 106.15
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 104.17
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,845.92 
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 163.77
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 21
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 715.86 
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,517
Target Price: PKR 2040

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 220.31       
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 79.06
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 306.30
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 52.30
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 52.16
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 30.79
Target Price: PKR 50

Nishat Power (NPL) – BUY 
Current Price: PKR 33.31
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 175.66 
Target Price: PKR 193

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 72.18 
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 21
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 9.78
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 213.06
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 498.40
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 335.17 
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 211.12         
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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