Pakistan Stock Exchange (PSX) Weekly Analysis 24 November, 2018

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

Top gainers of last week were: ICI Pak, CHCC, NRL, LUCK, PIOC, ASTL, MCB, and Engro Polymer.

Top losers of last week were: POL, HBL, DGKC, KEL, OGDC, Jubilee Life Insurance, Honda Atlas Cars, and Shifa International Hospitals.

Top Volume Leaders of last week:  LOTCHEM, EPCL, NRSL, PAEL, STPL, MLCF.

The Pakistan Stock Exchange (PSX) market index failed to consolidate gains made during the last week, mainly led by rout in E&Ps owing to sliding international oil prices and delays in finalization of IMF Bailout Package. The KSE-100 index gave way to wider macro jitters, amidst an uncertain foreign exchange reserve picture. KSE-100 index closed on 40,869 by losing 792 points or 1.9%, while KSE-30 index closed on 19,443 by losing 516 points.

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


  • The International Monetary Fund (IMF) viewed policy uncertainty and economic imbalances as risks to growth saying that its growth forecasts would slide to 4% in the current fiscal year from a decade-high of 5.8% in FY18
  • IMF negotiations get delayed, investor expectations of FX reserve funding from China, Saudi Arabia would deliver some welcomed relief
  • Market activity remained dull during the week with average daily traded value and volumes declining by 23%/26%WoW to USD56mn/157mn
  • Pakistan could face a tough time in the coming years as the delegation of Asia Pacific Group (APG)—a subsidiary of Financial Action Task Force (FATF) during its recent visit rated Pakistan partially/non-compliant in 33 out of 40 recommendations
  • Prime Minister Imran Khan on Monday led a sharp reaction by political leaders to US President Donald Trump's tirade against Pakistan by hinting at review of foreign policy options
  • During the week Pakistan received USD1bn from Saudi Arabia which took SBP’s foreign exchange reserves to USD8.3bn on 19th November
  • E&P sector contributed 42% (329pts) to the decline in KSE100 index as it was down 4.8%WoW due to fall in international oil prices (Brent / WTI: down around 9%WoW to USD60 / USD51 per bbl) owing to concerns regarding oil supply glut
  • Banks contributed 35% (279pts) to the decline in Benchmark Index mainly led by selling in United Bank Limited (UBL) and Habib Bank Limited (HBL). UBL was down 2.4%WoW due to its intimation of voluntary liquidation of New York branch in view of commercial viability
  • Foreign selling for the week stood at USD11.6mn. Among the domestic investors, Companies and NBFC remained the major sellers with net selling of USD3.0mn and USD1.0mn, respectively. The bulk of this selling was absorbed by Insurance companies and Banks with net buying of USD8.0mn and USD4.1mn, respectively


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 103.14
Target Price: PKR 121

Attock Cement Limited (ACPL) – BUY 
Current Price: PKR 137
Target Price: PKR 139.7

Attock Petroleum (APL) – BUY 
Current Price: PKR 498.31
Target Price: PKR 530.3

Askari Bank Limited (AKBL) – BUY 
Current Price: PKR 24.82
Target Price: PKR 29.2

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 64.97
Target Price: PKR 92.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 49.80
Target Price: PKR 69.6

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 91.22
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 104.68
Target Price: PKR 122

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 76.09
Target Price: PKR 90.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 39.99
Target Price: PKR 48.10

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 99.55
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 18.86
Target Price: PKR 36

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 215.01
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 136.65
Target Price: PKR 170

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 224
Target Price: PKR 325.3

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 95.32
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,348.82
Target Price: PKR 1,426.6

Kohat Cement Co. (KOHC) – BUY 
Current Price: PKR 103
Target Price: PKR 152.5

Lucky Cement (LUCK) – BUY 
Current Price: PKR 532.44
Target Price: PKR 605.8

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   200.02
Target Price: PKR 231.4

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 51.96
Target Price: PKR 56.6

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,343
Target Price: PKR 1,781.5

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 995.49
Target Price: PKR 1,255.1

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 49.71
Target Price: PKR 57.74

Nishat Chunian Power Ltd. (NCPL) – BUY 
Current Price: PKR 25
Target Price: PKR 32.7

Nishat Mills (NML) – BUY 
Current Price: PKR 145.91
Target Price: PKR 167.5

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 29
Target Price: PKR 39.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 143.79
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 32.49
Target Price: PKR 51.70

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 54.58
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 480.48
Target Price: PKR 657

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 163.67
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 243.95
Target Price: PKR 346

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 278.13
Target Price: PKR 399.08

The Searle Co. Ltd. (SEARL) – BUY 
Current Price: PKR 277.17
Target Price: PKR 505.0

Sui Northern Gas Pipeline Ltd. (SNGPL) – BUY 
Current Price: PKR 86.53
Target Price: PKR 131.6

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.13
Target Price: PKR 173.9

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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