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

BUY recommendations are:  ABL, ACPL, APL, ASTL, CHCC, DGKC, ENGRO, FATIMA, FCCL, FFBL, GWLC, GTYR, 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: BOP, ASTL, FHAM, CSAP, MARI, SHFA, FCCL, DGKC, EFERT and ISL.

Top losers of last week were: FATIMA, PICT, UNITY, ARPL, HBL, PIBTL, UBL, BWCL, NRL and PIOC.

Top Volume Leaders of last week: BOP, UNITY, BAFL, EPCL, FCCL, PAEL, TRG, KEL, PIBTL, and DGKC.

The Pakistan Stock Exchange (PSX) market index added another bearish session in the week and lost more than 1000pts in a single week. KSE-100 index has closed on 44,537 by losing -1006 points or -2.21 %. While KSE-30 index has closed on 21,849 by losing -560 points or -2.50%.

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


  • Banking stocks emerged as top most decliner and eroded 458 points from index during the week due to continuation of super tax in FY19 budget, where HBL lost 7.5% in outgoing week, followed by UBL (7%) and MCB (2%)
  • Banking names drained value as the Super Tax was extended in the recently announced budget with a gradual phase out over the next four against wider expectations of an immediate relief. While foreign selling in Financials also hammered the sector, especially in index heavy HBL and UBL
  • Among small scrips, Lotte Chemicals (LOTCHEM) gained 7% during the week owing to increasing international PTA‐PX margins
  • Foreigners were net buyer during the week amounting to US$0.6mn vs. net selling of US$2.8mn last week. On the other hand, amongst local investors companies were net buyers of US$6.4mn whereas insurance were net seller of US$4.3mn
  • A three member bench of the Supreme Court (SC) headed by Justice Ejaz Afzal Khan has ruled that Bahria Town Karachi cannot sell plots in Karachi
  • Secretary Power Division Yousuf Naseem Khokhar has reportedly accused Karachi Electric (KE) of "staging drama" of electricity crisis in Karachi to get a favourable decision from Nepra on tariff reconsideration petition at the cost of citizens of Karachi 
  • Sui Northern Gas Pipelines Limited (SNGPL) has filed a petition with Oil and Gas Regulatory Authority (OGRA) for determination of estimated revenue requirement (ERR) for financial year 2018‐19
  • Total FX reserves rising to US$17.71bn (up 3.4% WoW), reversing its 19-weeks long declining trend
  • Average consumer price inflation rising to 3.7%YoY in Apr’18 due to increase in prices of oil and utility tariffs during the month
  • ECP finalizing the new delimitations of national and provincial constituencies after conclusion of objections
  • Raising increasing the prices of diesel and petrol by PkR2.31 andPkR1.70 per litre
  • With verdicts of accountability court against Sharif’s family approaching close (due next week – May 11’18), the broader market is expected to remain range-bound, with investors likely to stay on side-lines
  • Oil & Gas sector is expected to remain in limelight as US President takes a decision next week on Iran’s Nuclear deal, where re-imposition of sanctions could spark intl. oil prices
  • Consumer price inflation ticks up to 3.7 percent in April
  • ADB raises concern over CPEC’s debt burden on finances
  • Atlas Honda (ATLH) has announced more than Rs1.7bn in investment to expand its production capacity amidst growing demand of two-wheelers in the country


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 100
Target Price: PKR 122

Attock Cement (ACPL) – BUY 
Current Price: PKR 176
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 56.49
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 614
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 83.91
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 124
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 142.77
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 307
Target Price: PKR 348.84

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 30.25
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 28.19
Target Price: PKR 39

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 42
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 24.28
Target Price: PKR 58

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 172.97
Target Price: PKR 231

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 181.75
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 479
Target Price: PKR 707

Habib Metro (HMB) – BUY 
Current Price: PKR 47
Target Price: PKR 50

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 96.34
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 102
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,774.73     
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 144
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 20
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 649.06
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,550
Target Price: PKR 2,040 

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   205.76
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 67.99
Target Price: PKR 107

National Foods (NATF) – BUY 
Current Price: PKR 334
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 49.88
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 51.76
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 29
Target Price: PKR 50

Nishat Power (NPL) – BUY 
Current Price: PKR 31.51
Target Price: PKR 51

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 164
Target Price: PKR 193

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 59.76
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 20
Target Price: PKR 34

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

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 209.75
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 484.81
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 334
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 186.10
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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