Pakistan Stock Exchange (PSX) Weekly Analysis 7 October, 2018

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

Top gainers of last week were: HASCOL, HUBC, EFERT, KAPCO, and NCL.

Top losers of last week were: PSO, DGKC, MLCF, ASTL, and INDU.

Top Volume Leaders of last week:  UNITY, BOP, TRG, FFL, and DOL.

The Pakistan Stock Exchange (PSX) market index lost 911.5pts in the first 4 trading days, Shahbaz Sharif’s arrest by NAB in the Ashiana Housing case on Friday afternoon came as a final nail in the coffin (hard blow to investor sentiments), with KSE-100 index losing another 860.8pts to close the week. KSE-100 index closed on 39,226 by losing 1,773 points or 4.32 percent, while KSE-30 index closed on 19,078 by losing 840 points.

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


  • Shahbaz Sharif’s arrest by NAB in the Ashiana Housing case on Friday afternoon
  • Deferment of electricity rate hike and lack of direction on potential entry in to the IMF program kept trading activity suppressed, shrinking average trading volumes to 113.5mn shares as compared with 124.4mn shares in the previous week
  • Banking sector scrips failed to attract volumes despite a 100bps interest rate hike by SBP in its last monetary policy
  • IMF stressing upon more stringent measures including further currency devaluation, interest rate hikes, revenue collection measures and reforms in the PSEs during its article IV consultations with Pakistani authorities
  • Saudi Arabia’s increasing interest to invest in Pakistan with an MoU signed for the establishment of 500kbpd oil refinery at Gawadar in partnership with PSO
  • GoP once again imposing a ban on purchase of automobiles and property by non-filers
  • OGRA notifying hike in gas rates by ~30-40% for different industrial consumers effective Sep 27’18
  • A sharp drop of US$627mn in SBP reserves due to external debt financing
  • Foreigners dumped US$8.42mn worth of equities in the outgoing week, marking its 23rd week of outflows
  • News flows suggesting GoP extending subsidy to the fertilizer sector post gas rate hike should incite interest in the sector


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 98.75
Target Price: PKR 134.9

Attock Cement Limited (ACPL) – BUY 
Current Price: PKR 142.50
Target Price: PKR 167.6

Attock Petroleum (APL) – BUY 
Current Price: PKR 433.20
Target Price: PKR 724.84

Askari Bank Limited (AKBL) – BUY 
Current Price: PKR 23.16
Target Price: PKR 29.2

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 58.51
Target Price: PKR 128

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 47.58
Target Price: PKR 69.6

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 90.46
Target Price: PKR 143.1

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 74.99
Target Price: PKR 90.3

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 305.57
Target Price: PKR 348.84

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 36.04
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 35.98
Target Price: PKR 48.10

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 95.94
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 18.33
Target Price: PKR 36

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 272.53
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 142.05
Target Price: PKR 248

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 223.25
Target Price: PKR 325.3

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 87.47
Target Price: PKR 142.70

Indus Motors (INDU) – BUY 
Current Price: PKR 1,227.88
Target Price: PKR 2,069

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 56.03
Target Price: PKR 61.7

Kohat Cement Co. (KOHC) – BUY 
Current Price: PKR 119.62
Target Price: PKR 152.5

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 12.81
Target Price: PKR 17.1

Lucky Cement (LUCK) – BUY 
Current Price: PKR 480.40
Target Price: PKR 827

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   189.29
Target Price: PKR 252

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 41.97
Target Price: PKR 107

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,524.92
Target Price: PKR 1,959.7

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 49.75
Target Price: PKR 57.74

Nishat Chunian Ltd. (NCL) – BUY 
Current Price: PKR 50.52
Target Price: PKR 57.15

Nishat Chunian Power Ltd. (NCPL) – BUY 
Current Price: PKR 22.45
Target Price: PKR 32.7

Nishat Mills (NML) – BUY 
Current Price: PKR 135
Target Price: PKR 174

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.30
Target Price: PKR 39.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 147.32
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 42.06
Target Price: PKR 70

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 540.54
Target Price: PKR 676.29

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 210
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 282.36
Target Price: PKR 395

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 244.06
Target Price: PKR 399.08

The Searle Co. Ltd. (SEARL) – BUY 
Current Price: PKR 283.20
Target Price: PKR 505

Sui Northern Gas Pipeline Ltd. (SNGPL) – BUY 
Current Price: PKR 80.97
Target Price: PKR 131.6

United Bank Limited (UBL) – BUY 
Current Price: PKR 144.98
Target Price: PKR 210

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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