Pakistan Stock Exchange (PSX) Weekly Analysis 3 March, 2019

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

Top gainers of last week were:  PAKT, DAWH, HBL, GWLC, PSMC, FFC, ENGRO, MEBL, and BAHL.

Top losers of last week were: ASTL, EFOODS, HASCOL, PIOC, FFBL, LUCK, MCB, PPL, NESTLE, and UBL.

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

The Pakistan Stock Exchange (PSX) market index movement were largely reflective of the geo-political tensions following the border skirmishes between Pakistan and India. KSE-100 index closed on 39,539 by losing 477 points or -1.19 %, while KSE-30 index closed on 19,022 by losing 268 points or -1.39 %.

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

• Violation of LoC by Indian aircraft and escalation of cross-border tension, as Pakistan reportedly brought down two IAF jets in a brief engagement
• PM offering peace talks to India while announcing release of captured Indian pilot
• Sector‐wise the worst performers for the week were Cements, E&P’s and OMC’s as they chipped away 254 points, cumulatively. While on the other hand the Tobacco sector offered the index some respite as it added 92 points
• Foreigners were net sellers of US$1 3mn vs net buyers of US$3 5mn in the previous week this ended their six consecutive‐weeks of net buying. While on the local investors’ side, Individuals and Mutual Funds were net sellers of US$21.3mn
• In the wake of volatility, avg volume at the bourse also increased and stood at 152mn, up 45%WoW
• Mughal Iron & Steel Ltd (MUGHAL) released its 2QFY19 results, recording an EPS of Rs1.43, up 15% YoY. This was because of 39% YoY increase in sales and a 33% YoY decline in sales and marketing expenses
• Reserves held by the State Bank of Pakistan decreased by a marginal US$6mn to US$8.04bn during the week ended on Feb 22. Holdings of the commercial banks were recorded at US$6.78bn while total liquid reserves of the country stood at US$14.82bn
• The Federal Board of Revenue (FBR) missed collections target by Rs235bn during the first eight months of current fiscal year, according to provisional figures released
• The lawmakers expressed concern over problems being faced by the common people because of an ongoing tussle in the state‐run insurance company and criticized the Federal Board of Revenue (FBR) for seeking approval of half‐cooked development projects without setting priorities right
• Oil prices increasing after OPEC's statement to continue oil output cuts
• Fitch expecting a US$12bn IMF bailout for Pakistan

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 100.40
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 22.02
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 419.01
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 43.41
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 48.07
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.79
Target Price: PKR 18.3

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 92.39
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 74.30
Target Price: PKR 91.0

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.24
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 142.43
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 135.35
Target Price: PKR 155.2

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 87.50
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,244.79
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 45.69
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 90.76
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 14.54
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 469.61
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,333.50
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   206.02
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 41.65
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 826.75
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 42.86
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 53.53
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 22.20
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 139.57
Target Price: PKR 166

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.25
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 153.25
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 473.22
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 186.00
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 229.42
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 74.58
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.25
Target Price: PKR 170.8

Thank you very much for reading this article.

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Written by: Rana Khuram