Pakistan Stock Exchange (PSX) Weekly Analysis 28 January, 2019

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, BAFL, BOP, CHCC, DGKC, ENGRO, EFERT, FATIMA, FFBL, FFC, GWLC, HASCOL, HBL, 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:  PSMC, HBL, UBL, MCB, HUBC, and PPL.

Top losers of last week were: APL, GWLC, EFERT, EFUG, PSO, PIOC, and FATIMA.

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

The Pakistan Stock Exchange (PSX) market index closed in the green for the fourth consecutive week (cumulatively rising 8%). KSE-100 index closed on 40,265 by gaining 958 points or 2.44%, while KSE-30 index closed on 19,347 by gaining 590 points or 3.15 %.

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


  • The unveiling of much-awaited 'mini budget' during the week kept the momentum positive
  • Average daily volume mimicked the same optimism and increased by 44%WoW to 168mn shares while net foreign buying of US$17mn during the week also supported the index
  • The State Bank of Pakistan (SBP) receiving US$1bn from the UAE following an agreement with the Abu Dhabi Fund for Development (ADFD) in Abu Dhabi on Jan 22
  • The cabinet approving Gas Infrastructure Development Cess settlement mechanism
  • The IMF revising GDP growth projections downwards to three percent for the current fiscal and in the subsequent years under PTI rule
  • The foreign currency reserves held by the SBP falling by USD$265mn to US$6.6bn
  • Commercial Banks were the best performers this week as they added 559 points to the index. They were followed by Oil & Gas Exploration, Fertilizer and Automobile Assemblers, which added 297 points, cumulatively
  • Foreigners net buying for the week was US$17mn (The Largest Since Week End 13-April, 2018) vs. net selling of US$9.42mn in the previous week. Among local investors’, Individuals, Mutual Funds and Banks were net sellers of US$14.2mn, cumulatively
  • Cherat Cement Company Ltd (CHCC) in a notice to the exchange announced that it has successfully installed and commissioned the third line of cement manufacturing, having production of 6,700 tons per day of clinker, along with waste heat recovery plant at its existing location in Nowshera, Khyber Pakhtunkhwa Province. With this expansion the cement production capacity of the company has increased to more than 4.5mn tons per annum
  • Honda Atlas Cars Pakistan (HCAR) has found itself in a tricky spot following government’s decision to allow non-filers to purchase 1,300cc vehicles since it only manufactures vehicles of and above 1,339cc
  • The State Bank of Pakistan (SBP) received US$1bn from the UAE following an agreement with the Abu Dhabi Fund for Development (ADFD) in Abu Dhabi on Jan 22
  • The total liquid foreign reserves held by the country was recoded at US$13.3bn on January 18, as foreign reserves held by the State Bank of Pakistan was stood at US$6.6bn and net foreign reserves held by commercial banks was registered at US$6.6bn
  • Pakistan has received third tranche of US$1bn from Saudi Arabia, State Bank of Pakistan has confirmed

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 109.02
Target Price: PKR 118.5

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 109.7
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 2 3.4
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 421.01
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 48.54
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 4 8.7
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 3.2
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 68.87
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 83.32
Target Price: PKR 105.00

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 336.38
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 7 3.7
Target Price: PKR 91.0

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.44
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 43.57
Target Price: PKR 43.5

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 106.58
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.21
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 151.95
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 149.28
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 92.54
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,207.18
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 4 9.6
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 8 4.3
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 6.6
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 465.19
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,335.5
Target Price: PKR  1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   205.0
Target Price: PKR 224.73

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 44.25
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 830.7
Target Price: PKR  1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 47.52
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 5 6.2
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 140.0
Target Price: PKR 158

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 2 5.1
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 148.26
Target Price: PKR 190

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 43.64
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 472.6
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 184.66
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 245.72
Target Price: PKR 244.87

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 233.46
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 84.1
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 153.1
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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