Pakistan Stock Exchange (PSX) Weekly Analysis 9 September, 2018

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, BAFL, DGKC, EFERT, FATIMA, FFC, GWLC, HBL, HCAR, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MCB, MLCF, MARI, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PPL, PSMC, PSO, SEARL, SNGPL and UBL.

Top gainers of last week were: COLG, OLPL, PICT, FHAM, and KAPCO.

Top losers of last week were: UNITY, PIOC, ABOT, DGKC, and CHCC.

Top Volume Leaders of last week: BOP, KEL, AGL, EPCL and LOTCHEM.

The Pakistan Stock Exchange (PSX) market index began on a negative note this week, amid cut in military aid by United States worth USD 300mn. Furthermore news of potential hike in domestic and industrial gas prices by an average of 46%, tagged with increase in electricity price by PKR 2/unit had an adverse impact on sectors such as Cement, Steel, Textile, Fertilizer and Chemical. KSE-100 index closed on 40,855 by losing 887 points or 2.1 percent. While KSE-30 index closed on 20,098 by losing 393 points or 1.91 percent.

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


  • Fall in SBP reserves by USD 342mn and circular debt reaching PKR 1.2tn further weakened the investor sentiment
  • US Secretary of State Michael Pompeo stating that his visit to Islamabad led to an agreement that it’s time for the United States and Pakistan to deliver on their commitments
  • The central bank planning to auction PkR5.15trn worth of Market Treasury Bills and Pakistan Investment Bonds during Sep-Nov’18
  • Foreign selling continued this week clocking-in at USD 9.9mn compared to a net sell of USD 10.0mn last week. Selling was witnessed in Commercial Banks (USD 5.8mn) and Cement (USD 3.0mn).
  • Prime Minister Imran Khan approving increase in gas prices up to 46% as proposed by OGRA, while ordering steps to control annual gas theft of PkR50bn
  • Petrol price slashed by Rs 2.41, diesel’s by Rs 6.37
  • Inflation surges to 5.8pc
  • Dutch company plans steel plant in Karachi
  • Byco issues Rs3.12bn worth of sukuk
  • Suzuki Mehran’s 30-year journey to end next April
  • The president on the advice of the PM reconstituting the Council of Common Interests (CCI), and constituting the Cabinet Committee on China-Pakistan Economic Corridor (CCoCPEC)
  • A number of crucial, time sensitive decisions for the nascent Government where clarity is awaited (headway on IMF negotiations vital)
  • Growing risk of a cyclical downturn in consumption led demand where monetary tightening and high fuel prices make for a terse spending backdrop
  • More volatility is expected as dulling volumes (average volumes at 138.7mn shares) give rise to large, incoherent moves in thinly traded scrips


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 105.4
Target Price: PKR 134.9

Attock Cement Limited (ACPL) – BUY 
Current Price: PKR 149.1
Target Price: PKR 167.6

Askari Bank Limited (AKBL) – BUY 
Current Price: PKR 24
Target Price: PKR 29.2

Attock Petroleum (APL) – BUY 
Current Price: PKR 599.81
Target Price: PKR 724.84

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 71.95
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 56.2
Target Price: PKR 69.6

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 102.3
Target Price: PKR 143.1

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 76.9
Target Price: PKR 90.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 32.81
Target Price: PKR 45.1

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 96.7
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 19.44
Target Price: PKR 36

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 151.89
Target Price: PKR 248

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 277.6
Target Price: PKR 325.3

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 89.63
Target Price: PKR 142.70

Indus Motors (INDU) – BUY 
Current Price: PKR 1,491.25
Target Price: PKR 2,069

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 57.9
Target Price: PKR 61.7

Kohat Cement Co. (KOHC) – BUY 
Current Price: PKR 118.2
Target Price: PKR 152.5

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 13.3
Target Price: PKR 17.1

Lucky Cement (LUCK) – BUY 
Current Price: PKR 512.04
Target Price: PKR 827

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   201.35
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 52.61
Target Price: PKR 107

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,500.1
Target Price: PKR 1,959.7

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 51.27
Target Price: PKR 74

Nishat Chunian Ltd. (NCL) – BUY 
Current Price: PKR 47.23
Target Price: PKR 57.15

Nishat Chunian Power Ltd. (NCPL) – BUY 
Current Price: PKR 23.6
Target Price: PKR 32.7

Nishat Mills (NML) – BUY 
Current Price: PKR 132.46
Target Price: PKR 174

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 26.0
Target Price: PKR 39.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 150.77
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 33.99
Target Price: PKR 51.70

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 40.99
Target Price: PKR 109

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 203.90
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 278.10
Target Price: PKR 395

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 328.33
Target Price: PKR 399.08

The Searle Co. Ltd. (SEARL) – BUY 
Current Price: PKR 307.8
Target Price: PKR 505.0

Sui Northern Gas Pipeline Ltd. (SNGPL) – BUY 
Current Price: PKR 94.7
Target Price: PKR 131.6

United Bank Limited (UBL) – BUY 
Current Price: PKR 157.91
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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