Pakistan Stock Exchange (PSX) Weekly Analysis 21 April, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSO, SNGP, and UBL.

Top gainers of last week were:  FFC, UBL, PPL, PAEL, HUBC, SNGP, NRL, NESTLE, PSMC, FCCL, HBL and MCB.

Top losers of last week were: LUCK, PSO, BOP, ISL, PMPK, BAHL, HMB, GWLC, PAKT, PIOC, HASCOL, and CHCC.

Top Volume Leaders of last week:  BOP, PAEL, KEL, UNITY, WTL and FCCL.

The Pakistan Stock Exchange (PSX) market index remain volatile throughout the week due to the series of event. KSE-100 index closed on 37,292 by losing -46 points or - 0.12 %, while KSE-30 index closed on 17,739 by gaining 88 or 0. 50 %.

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

• On the political front, the PM announced major Cabinet Reshuffling. Finance Minister Asad Umar has stepped down from his Ministry, Dr. Hafeez Sheikh appointed Advisor on Finance after a major reshuffle in Federal Cabinet
• Trading volume also increased by 27.7% WoW to 175.44 million shares. The Mutual funds and Foreigners were the net sellers, worth 7.10 Mn collectively. While the Banks, Companies and Individuals were net buyers, worth 7.79 Mn collectively
• The SBP drafted a proposal to introduce Treasury Single Account (TSA) that created a havoc among the banking sector which lately clarified by the SBP that it won’t take any steps without the discussion and consultation from the stakeholders 
• During last weekend, successful negotiations held with International Monetary Fund (IMF) in USA, as per former FM Asad Umar, which initially created some activity in the market
• The E&P, Fertilizers, Auto and Power sectors were the positive contributors which added 148 points to the Index. While the Cement, Engineering, Pharmaceutical and Banking sectors were the major laggards that dragged down the Index by 105 points 
• Prime Minister Imran Khan launched landmark Naya Pakistan Apna Ghar Housing Scheme
• Engro Corporation to acquire 100% control of Engro FZE
• OGRA has said that prices of gas are likely to be surged by 75% to 80% in the next fiscal year
• Mari Petroleum company Limited (MPCL) notified the exchange that MPCL along with its Joint venture Partner Pakistan Petroleum Limited (PPL) has made an oil discovery at exploratory well Dharian-1 ST-3 near Rawalpindi which is 2nd consecutive discovery by Ghauri Joint venture in Ghauri Block
• Pakistan’s textile exports were recorded at US$9.99bn during nine months (July to March) of the ongoing fiscal year. The country’s textile exports had remained at the same level of previous year, showing no growth

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 87.94
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.81
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 368.43
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 35.92
Target Price: PKR 80.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 82.22
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.45
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.61
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 41.61
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 73.79
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 70.83
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 61.56
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 318.70
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 33.30
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 32.27
Target Price: PKR 43.5

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 17.65
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.05
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 91.62
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 127.10
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 76.00
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,302
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 41.74
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 76.45
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.08
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 388.22
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,178.96
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   192.27
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 94.44
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 29.75
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 893.63
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 40.31
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 46.75
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 18.20
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 125.99
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.30
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.59
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.96
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 25.59
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 444.16
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 180.22
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 207.33
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 77.29
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.87
Target Price: PKR 154.60

Thank you very much for reading this article.

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Written by: Rana Khuram