Pakistan Stock Exchange (PSX) Weekly Analysis 16 June, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, GWLC, HASCOL, HBL, HCAR, 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:  FFBL, PIOC, FFC, SEARL, ENGRO, OGDC, TRG, and CHCC.

Top losers of last week were: PSMC, PSO, NBP, and HASCOL.

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

The Pakistan Stock Exchange (PSX) market index trading sessions before Federal Budget dragged index by 2.37%, which were later recovered by budget announcement in following three sessions. As the severity of new tax measures were considered to be lower than expectations for sectors like Fertilizer and Banks. The benchmark KSE-100 Index closed at 35,573 levels by gaining of 0.2 %.

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


  • Despite a week marred by high-profile developments from political arrests to the unveiling of the federal and provincial budgets, the KSE-100 index managed to finish on a positive note
  • The negative sentiments were further fuelled as news of former president Asif Ali Zardari’s arrest made headlines
  • The foreign exchange reserves held by SBP declined by US$55mn to US$7.807bn during the week ended on June 3, 2019 due to payments on account of external debt servicing
  • Based on NCCPL data, foreigners remained net sellers amounting to US$4.90mn. On local front, Mutual Funds net buyer of US$2.7mn, while insurance sold worth of US$3.0mn
  • The Trump administration has asked the International Monetary Fund (IMF) to ensure real structural reforms are included as conditionality before approving a loan package for Pakistan
  • Fertilizer manufacturers demanded of the government to fulfill their subsidy claims that exceeded Rs20 billion, creating cash flow challenges for the industry
  • Oil rose, extending sharp gains following attacks on two oil tankers in the Gulf of Oman that stoked concerns of reduced crude flows through one of the world’s key shipping routes
  • The federal government has added Rs3.9tn to the public debt in just 10 months of the FY19
  • Workers remittances in Pakistan during July to May 2019 has increased by 11%
  • Continuation of CGT at 15%
  • Freezing of corporate tax rate at the current level of 29%
  • Abolishment of tax credit for BMR investment
  • Increased tax rates on profit on debt and v) bringing of capital gains on property sale under normal tax regime
  • Recovery was also seen in cement and steel sectors as the government raised the development budget for FY20
  • Participation picked up slightly as average daily volumes for the outgoing week were up by 9% to 136 million shares while value traded increased by 8% to $34 million

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 85.8
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 20.4
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 324.3
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 2 5.2
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 82.02
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 45.8
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 0.0
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 35.16
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 6 1.0
Target Price: PKR 105

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 67.4
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 52.37
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 278
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 29.5
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 2 0.4
Target Price: PKR 35.73

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 16.9
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 11.72
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 80.79
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 123.9
Target Price: PKR 143.25

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 167.9
Target Price: PKR 206.8

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 77.35
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,182.2
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 38.6
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 5 8.0
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 5.7
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 417.1
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,098.6
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   178.5
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 88.96
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 2 5.3
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 844.2
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 38.8
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 3 8.8
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 17.0
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 103.5
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 23.1
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 133.0
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.28
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 25.02
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 409.9
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 158.8
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 179.3
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 7 4.9
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 154.4
Target Price: PKR 165.50

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

No comments:

Post a Comment