Pakistan Stock Exchange (PSX) Weekly Analysis 29 July, 2018

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, CHCC, DGKC, FATIMA, FCCL, FFBL, GWLC, HBL, HCAR, HUBC, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MLCF, MTL, NBP, NCL, NML, NPL, OGDC, PAEL, PIOC, PPL, PSMC, PSO, SEARL, SNGP and UBL.

Top gainers of last week were: PIOC, ASTL, GWLC, FCCL, and EFOODS.

Top losers of last week were: PSMC, HASCOL, APL, FFC, and HUBC.

Top Volume Leaders of last week: PIOC, BOP, KEL, PIBTL, and LOTCHEM.

The Pakistan Stock Exchange (PSX) market index rebounded sharply from a tumultuous pre-election run-up, rising for all four sessions of the shortened week. KSE-100 index closed on 42,786 by gaining 1564 points or 3.8 percent. While KSE-30 index closed on 21,336 by gaining 938 points.

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

• As the process of post-election flash-points gains steam (appointment of reserved members, by-election preparations), market dynamics are likely to hang in the balance. Further down the line, as the PTI-led government firms up its cabinet, legislative priorities and policy imperatives, investors are likely to be see-saw based on perceived outcomes for sectors, capital markets and the domestic investment environment
• Election proceedings dominated investor sentiment, guiding stock price escalations as polling formalities were completed with limited violence and sporadic occurrences of documented discrepancies
• Average traded volumes over the week jumped 7.04% WoW to 234.9mn shares/day
• Citing a slew of economic challenges, MNA elect Asad Umar stated that all options, including approaching the IMF were on the table with urgency of reforms expected to be at the forefront of a PTI-led government
• The country's total liquid foreign exchange reserves increased by US$46mn during the last week ending at US$15.73bn while SBP's reserves decreased by US$53mn to US$9.01bn
• SNGP has reportedly refused to import Re-Gasified Liquefied Natural Gas until the Power Division commits to off-take on firm take-and-pay basis
• June'18 figures released by the PBS shows a 2%YoY drop in textile exports for the month as GoP efforts to boost exports hit roadblocks
• The GoP has released PkR32bn in cash support for promoting exports of textile and clothing under the special PM Package aimed at accelerating exports of value added goods

Following are few BUY recommendations:

Allied Bank Ltd (ABL) – BUY 
Current Price: PKR 109.95
Target Price: PKR 125.5

Attock Cement Ltd (ACPL) – BUY 
Current Price: PKR 144.74
Target Price: PKR 195.4

Askari Bank Ltd (AKBL) – BUY 
Current Price: PKR 24.09
Target Price: PKR 28.2

Attock Petroleum (APL) – BUY 
Current Price: PKR 559.58
Target Price: PKR 745.14

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 71.67
Target Price: PKR 128

Cherat Cement (CHCC) – BUY 
Current Price: PKR 94.78
Target Price: PKR 153

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 114.69
Target Price: PKR 194

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 35.90
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 24.13
Target Price: PKR 39

Fauji Fert. Bin Qasim Limited (FFBL) – BUY 
Current Price: PKR 37.62
Target Price: PKR 48.10

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 21.81
Target Price: PKR 36

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 179.66
Target Price: PKR 248

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 293.66
Target Price: PKR 671.6

HUBCO (HUBC) – BUY 
Current Price: PKR 94.75
Target Price: PKR 138.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,354.96
Target Price: PKR 2,069

Kot Addu Power (KAPCO) – BUY
Current Price: PKR 54.75
Target Price: PKR 65

Kohat Cement Company (KOHC) – BUY
Current Price: PKR 128.03
Target Price: PKR 169.4

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY
Current Price: PKR 13.61
Target Price: PKR 15.9

Lucky Cement (LUCK) – BUY 
Current Price: PKR 549.02
Target Price: PKR 827

Mari Petroleum (MARI) – BUY 
Current Price: PKR   1433.69
Target Price: PKR 2130

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   213.63
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 51.07
Target Price: PKR 107

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 1146.56
Target Price: PKR 1604

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 50.03
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 51.67
Target Price: PKR 69

Nishat Mills (NML) – BUY 
Current Price: PKR 139.28
Target Price: PKR 174

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 30.42
Target Price: PKR 39.1

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 152.43
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 38.30
Target Price: PKR 51.70

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 51.01
Target Price: PKR 109

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 214.24
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 345.18
Target Price: PKR 620

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 322.34
Target Price: PKR 392

Searle Company Ltd. (SEARL) – BUY 
Current Price: PKR 319.49
Target Price: PKR 505

Sui Northern Gas Pipeline Ltd. (SNGP) – BUY 
Current Price: PKR 100.08
Target Price: PKR 163.1

United Bank Limited (UBL) – BUY 
Current Price: PKR 186.03
Target Price: PKR 238

Thank you very much for reading this article.

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Written by: Rana Khuram