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

BUY recommendations are:  ABL, ACPL, APL, AKBL, ASTL, BAFL, CHCC, DGKC, ENGRO, 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: FCCL, FATIMA, UBL, KEL and EFERT.

Top losers of last week were: APL, HASCOL, PIOC, PSO and PSMC.

Top Volume Leaders of last week:  KEL, BOP, LOTCHEM, MLCF, and PAEL.

The Pakistan Stock Exchange (PSX) market index witnessed another difficult week for the market with KSE-100 index closing at 38,562.05pts. KSE-100 index closed on 38,562 by losing 1934 points or 4.8%, while KSE-30 index closed on 18,382 by losing 942 points.

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


  • Unexpected interest rate hike of 150bps to 10.0% by SBP in post market hours on previous Friday caught investors off guard
  • The Sensitive Price Indicator (SPI) for the week ended December 7, 2018 registered a decrease of 0.55% for the combined income group, going down from 239.25 points in the prior week to 237.94 in the week under review
  • PkR currency depreciation triggered across the board selling
  • Oil prices receded 2.4%WoW in the run-up to the OPEC’s meeting as non-OPEC producers expand production, with pressure being exerted by OPEC’s decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia
  • Oil & Gas sector lost 5.7% of its market capitalization during the week
  • The negatives overshadowed the improving relationship of Pakistan with the US, with the latter coming for assistance in negotiating settlement of the Afghan War
  • Importantly, foreign selling subsided in the current week with FIPI standing at –ve USD2.5mn vs. –ve USD51.1mn in the previous week (USD32.6mn net selling on Friday, being the last day for MSCI rebalancing in the local market)
  • Average volumes turned lower standing at 205.0mn shares (KSE All-share) vs. 278.2mn shares in the previous week whereas activity was tilted towards blue-scrips with KSE-100/KSE-All share traded value standing at 0.74x vs. 0.66x in the previous week


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 96.00
Target Price: PKR 121

Attock Cement Limited (ACPL) – BUY 
Current Price: PKR 119.68
Target Price: PKR 139.7

Attock Petroleum (APL) – BUY 
Current Price: PKR 413.27
Target Price: PKR 530.3

Askari Bank Limited (AKBL) – BUY 
Current Price: PKR 24.93
Target Price: PKR 29.2

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 57.95
Target Price: PKR 92.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 48.61
Target Price: PKR 69.6

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 72.07
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 89.72
Target Price: PKR 122

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 299.54
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 74.18
Target Price: PKR 90.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.15
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 37.65
Target Price: PKR 48.10

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 94.25
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 17.37
Target Price: PKR 36

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 173.76
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 132.51
Target Price: PKR 170

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 192.10
Target Price: PKR 325.3

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 94.77
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,184.92
Target Price: PKR 1,426.6

Kohat Cement Co. (KOHC) – BUY 
Current Price: PKR 88.18
Target Price: PKR 152.5

Lucky Cement (LUCK) – BUY 
Current Price: PKR 469.59
Target Price: PKR 605.8

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   197.35
Target Price: PKR 231.4

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 44.21
Target Price: PKR 56.6

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,325.27
Target Price: PKR 1,781.5

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 904.91
Target Price: PKR 1,255.1

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 46.96
Target Price: PKR 57.74

Nishat Chunian Power Ltd. (NCPL) – BUY 
Current Price: PKR 24.49
Target Price: PKR 32.7

Nishat Mills (NML) – BUY 
Current Price: PKR 136.54
Target Price: PKR 167.5

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 26.80
Target Price: PKR 39.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 140.29
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 28.49
Target Price: PKR 51.70

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 42.87
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 463.07
Target Price: PKR 657

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 162.47
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 206.12
Target Price: PKR 346

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 235.19
Target Price: PKR 399.08

The Searle Co. Ltd. (SEARL) – BUY 
Current Price: PKR 243.53
Target Price: PKR 505.0

Sui Northern Gas Pipeline Ltd. (SNGPL) – BUY 
Current Price: PKR 77.48
Target Price: PKR 131.6

United Bank Limited (UBL) – BUY 
Current Price: PKR 140.02
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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