Pakistan Stock Exchange (PSX) Weekly Analysis 13 May, 2018

BUY recommendations are:  ABL, ACPL, APL, ASTL, CHCC, DGKC, ENGRO, 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: IBFL, PICT, PPL, POL, EFERT, ICI, MARI, COLG, AKBL and APL.

Top losers of last week were: TRG, SNGP, SHFA, PAKT, HMB, PIBTL, CSAP, UNITY, THALL and INIL.

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

The Pakistan Stock Exchange (PSX) market index continued its downward trajectory for the second week in a row, declining by another 2.1% WoW. KSE-100 index has closed on 43,595 by losing -942 points or - 2.12 %. While KSE-30 index has closed on 21,379 by losing -470 points or -2. 15 %.

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


  • Overall volumes improved during the week by 1% WoW to 167mn and ADTO also improved by 3% WoW to US$57mn as local mutual funds remained busy accumulating positions in a sliding market
  • Oil & gas exploration remained the only heavyweight sector which closed in the green zone as US President Donald Trump scrapped Iran Nuclear deal, sending international oil prices above US$77/bbl level and estimates upgrade by major investment banks around the world 
  • The market was rife with rumours regarding local cement players prepping a price increase of upto PKR25/bag, which kept the sector buzzing. Leading cement names, especially midcap names gathered steady gains towards the end of the week
  • The overall cement sales grew 15.1 per cent to 38.996 million tonnes during the first 10 months of this fiscal year compared to 33.880m tonnes during the same period last year
  • The National Logistics Cell (NLC) has signed a memorandum of understanding (MoU) with Daimler AG for local production of Mercedes-Benz trucks in Pakistan
  • Engro Corp plans Rs2.5 billion investment in Thar coal power project
  • Automaker Ghandhara Nissan Limited (GNL) imported three million yuan of trucks from China by settling the trade transaction in renminbi in its maiden deal with a Chinese bank based in Pakistan
  • The central bank will auction Rs5.3 trillion worth of market treasury bills and Pakistan Investment Bonds (PIBs) in May-July to help the government finance budget deficit
  • Rice exports up 27pc to $1.57bln in Jul-Apr
  • Pakistan received $16.3 billion remittances in the first ten months of 2017-18, reflecting a 3.9 per cent increase over the corresponding period of FY17
  • Motorbike assemblers raise prices
  • Commercial banks remained the major decliners as the sector eroded 286 points from the index. Continuation of super tax and weak earnings outlook for 2018 kept banking stocks under pressure
  • Foreigners were net sellers during the week amounting to US$4.1mn vs. net buying of US$0.6mn last week. On the other hand, amongst local investors mutual funds were net buyers of US$4.2mn whereas Individuals were net seller of US$1.9mn

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 97.05
Target Price: PKR 122

Attock Cement (ACPL) – BUY 
Current Price: PKR 171.15
Target Price: PKR 261

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 53.50
Target Price: PKR 83

Attock Petroleum (APL) – BUY 
Current Price: PKR 619
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 79.53
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 117.48
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 137.53
Target Price: PKR 194

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 308.02
Target Price: PKR 348.84

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 29.56
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 26.96
Target Price: PKR 39

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 40
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 23.13
Target Price: PKR 58

General Tyre & Rubber (GTYR) – BUY 
Current Price: PKR 169.72
Target Price: PKR 231

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 300.07
Target Price: PKR 372

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 175.79
Target Price: PKR 248

Honda Cars (HCAR) – BUY 
Current Price: PKR 463
Target Price: PKR 707

Habib Metro (HMB) – BUY 
Current Price: PKR 43.50
Target Price: PKR 50

Hi-Tech Lubricant (HTL) – BUY 
Current Price: PKR 93.16
Target Price: PKR 116

HUBCO (HUBC) – BUY 
Current Price: PKR 97.15
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,685.36
Target Price: PKR 2,069

Kohat Cement (KOHC) – BUY
Current Price: PKR 144.33
Target Price: PKR 248

Lalpir Power (LPL) – BUY 
Current Price: PKR 18.92
Target Price: PKR 30

Lucky Cement (LUCK) – BUY 
Current Price: PKR 620.31
Target Price: PKR 827

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,571
Target Price: PKR 2,040 

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   200
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY
Current Price: PKR 66.02
Target Price: PKR 107

National Foods (NATF) – BUY
Current Price: PKR 330
Target Price: PKR 413

National Bank of Pakistan (NBP) – BUY
Current Price: PKR 48.97
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 50.27
Target Price: PKR 69

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 27.48
Target Price: PKR 50

Nishat Power (NPL) – BUY 
Current Price: PKR 30.17
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 56.72
Target Price: PKR 109

Pakgen Power (PKGP) – BUY 
Current Price: PKR 19.25
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 9.15
Target Price: PKR 16

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 215.91
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 477.04
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 332.47
Target Price: PKR 392

United Bank Limited (UBL) – BUY 
Current Price: PKR 175.22
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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