Pakistan Stock Exchange (PSX) Weekly Analysis 12 January, 2019

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

Top gainers of last week were: PPL, POL, FFBL, GWLC, FFC, HBL, and OGDC.

Top losers of last week were: KAPCO, PAKT, PSEL, COLG, HMB, KAPCO, CHCC, APL, PIOC, and PTC.

Top Volume Leaders of last week:  KEL, PAEL, TRG, SSGC, and BOP.

The Pakistan Stock Exchange (PSX) market index propelled during the week because of visit of Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al-Nahyan, report released by Fitch stating that SBP can keep rates at 10% for the rest of FY19, and FATF showing satisfaction over the steps taken by Pakistan to avoid black-list which proved to be a breath of fresh air against the negative developments over the issue in last 6-8 months. KSE-100 index closed on 39,049 by gaining 1502 points or 4.00 %, while KSE-30 index closed on 18,615 by gaining 1020 points or 5.80 %.

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


  • The visit of Abu Dhabi Crown Prince put stamp on a US$6bn package for Pakistan including a US$3bn deferred oil facility which caused an adrenaline rush as the market increased
  • Upward movement in oil, WTI increased by ~8.7% during the week, provided support to the oil stocks
  • The PTI-led government deciding to slap additional taxes for the purpose of achieving import compression and enhance revenue base
  • Government notifying ban on import of furnace oil asking refineries to enter into contracts with IPPs for furnace oil sales
  • Trading volumes for the week increased by 29.7%WoW as market activity was led by Mutual funds (net buy US$6.72mn) where insurance companies continued to offload their equity portfolio (net sell US$3.12mn)
  • The government is planning to introduce a mini-budget in a bid to meet the revenue requirement likely to be announced in the latter part of next week
  • The average daily traded volumes for the week were 140mn, up 18% WoW and average daily traded value for the week was US$46mn, up 12% WoW
  • Millat Tractors Ltd (MTL) in a notice to the exchange announced it has extended its current plant shutdown for another week. Production shall resume from Monday, 21 January 2019
  • The Drug Regulatory Authority of Pakistan (DRAP), with the approval of the federal government, announced up to 15% hike in the prices of medicines, apart from life-saving drugs
  • Moody’s said Pakistan’s ability to refinance its foreign debt and fund its growing deficits is at stake given low foreign exchange reserves and gross borrowing requirements
  • Remittances from overseas Pakistanis jumped 10% to US$10.72bn during the first six months of this fiscal year as compared to US$9.744bn in same period last year, reported the State Bank of Pakistan
  • Gas supplies to industrial, fertilizer and power sectors was restored after the Sui Northern Gas Pipelines Limited teams repaired damaged portion of the 36 inch diameter pipeline at Bhong, near Sadiqabad (Rahim Yar Khan), about 650km away
  • More than RS9bn have so far been collected for construction of dams with 13% being foreign currency component having been transmitted by overseas Pakistanis


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 109.1
Target Price: PKR 118.5

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 108.2
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 2 3.7
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 445.0
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 49.08
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 4 7.4
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 2.6
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 71.74
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 83.89
Target Price: PKR 105.00

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 321.3
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 7 5.7
Target Price: PKR 91.0

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.70
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 3 9.8
Target Price: PKR 43.5

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 101.1
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.83
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 150.27
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 132.9
Target Price: PKR 143.25

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 176.6
Target Price: PKR 206

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 88.79
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,197.47
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 4 8.2
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 8 4.9
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 7.6
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 458.65
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,362.6
Target Price: PKR  1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   194.6
Target Price: PKR 224.73

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 44.13
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 795.1
Target Price: PKR  1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 44.99
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 5 1.6
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 2 2.5
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 137.34
Target Price: PKR 158

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 2 5.7
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 142.40
Target Price: PKR 190

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 45.32
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 482.2
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 171.88
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 186.41
Target Price: PKR 244.87

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 235.4
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 8 4.1
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 137.9
Target Price: PKR 154.60

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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