Pakistan Stock Exchange (PSX) Weekly Analysis 20 May, 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:  PPL, HUBC, POL, PMPK, and NATF.

Top losers of last week were: ENGRO, HBL, DGKC, LUCK, and OGDC.

Top Volume Leaders of last week:  Power, Cement, Banks and Technology sectors.

The Pakistan Stock Exchange (PSX) market index closed on negative note for seventh consecutive week taking 7 weeks loss to 15%. During outgoing week, index lost 1,550pts or 4.5% WoW, highest percentage loss after 30 weeks, and reached on 33,162 points.

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

• Certain events including IMF loan and Emerging Market Status failed to excite the Investors
• Average Traded volume also increased by 46% WoW basis to 107.22 Mn shares
• The Fertilizer, Banking, Cement and OMC were the negative contributors which declined the Index by 1,020 points while the E&P and Power sectors were the positive contributors which added 102 points to the Index 
• The Foreigners, Individuals and Companies were the net buyers worth Rs. 19.49 Mn collectively
• The Mutual Funds and Insurance were the net sellers worth Rs. 21.50 Mn
• The Power, Cement, Banks and Technology sectors were the volume leaders
• Pakistan sustains upgraded status in MSCI Emerging Market Index
• SBP Forex reserves fall by US$138mn to US$8.846bn
• Pakistan submits implementation report to FATF
• Hafeez Shaikh meets PSX delegates amid dull market sentiment
• OGRA seeks 47pc increase in gas tariffs
• Rupee hit a new all-time low of 149.35 to the US dollar in the inter-bank market on Friday
• Fertilizer sector remained among one of the top laggards to index, as concerns over withdrawal of sales tax exemption and rumor related to replacement of GIDC with FED on gas supply are doing rounds. Similarly cement sector also performed poorly, as factors like slower economic growth, hike in policy rate and devaluation are likely to have substantial dent on manufacturers profitability 
• The rules and forms for the Asset Declaration Scheme 2019 will be made public in order to make the amnesty scheme operational. The SBP will also issue a circular for making payments under the amnesty scheme
• Special Assistant to PM on Health Services, Regulations and Coordination Dr Zafar Mirza warned pharmaceutical companies to bring down the prices of medicines to 75% or the government will move drug courts against them

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 75.85
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.53
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 267
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 21.57
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 77.46
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.39
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.08
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 33.55
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 53.43
Target Price: PKR 105

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 63.69
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 43.98
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 254.25
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 21.85
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 20.32
Target Price: PKR 35.73

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 15.21
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 9.01
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 64.18
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 118.92
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 74.28
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,200
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 35.89
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 49.60
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 13.71
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 344.27
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   941.39
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   172.95
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 84.18
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 19.26
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 838.28
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 36.69
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 37.70
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.84
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 104.25
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.93
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 132.29
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 19.227
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 18.92
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 403.05
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 165.66
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 151.96
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 54.94
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 143.76
Target Price: PKR 154.60

Thank you very much for reading this article.

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Written by: Rana Khuram