Pakistan Stock Exchange (PSX) Weekly Analysis 23 June, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FFBL, FCCL, FFC, 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:  HUBC, ASTL, EFOODS, POL, and OGDC.

Top losers of last week were: HASCOL, NCL, KAPCO, and FFBL.

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

The Pakistan Stock Exchange (PSX) market index remained choppy during the outgoing week after three positive weeks. The benchmark KSE-100 Index closed at 35,125 levels by losing 448 points or 1.26 %. While KSE-30 index closed on 16,632 by 172 points or 1.02

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

• Select Independent Power Producers (IPPs) namely LPL, NPL, HUBC, and ATLN gained 2-8% in their value in anticipation of upcoming Sukuk payment of Rs200bn
• Based on NCCPL data, foreigners remained net sellers amounting to US$5.7mn. On local front, Mutual Funds net seller of US$4.0mn, while insurance sold worth of US$0.6mn
• FBR has formally launched the online FBR Tax Profiling System, enabling 53 million people to check their bank details, properties, utility bills and travel history data
• A Senate panel has rejected all clauses of the Finance Bill 2019 that affect the common man and also recommended that the exchange rate should be fixed at Rs151 to a dollar and the interest rate be brought down to single digit
• Prime Minister Imran Khan has told the textile industry that the government was ready to resolve its genuine concerns but revival of zero-rating regime was no more an option in the current situation
• Threat of FATF blacklist averted. Pakistan has managed to garner much-needed support from three member states of the Financial Action Task Force (FATF) to avoid being placed on its blacklist, but black clouds are still hanging over it
• PKR continued to devalue over the weekend, taking MTD currency depreciation to 6%
• Senate Committee’s rejection of Finance Bill, while proposing for fixing exchange rate and interest rates at PkR150/ USD and 12%, respectively
• CAD narrowing 29.3% during 11MFY19 to US$12.6bn, while May CAD declining 47/12% YoY/MoM
• Remittances jumping 10% during 11MFY19 to US$20bn
• Launch of PKR200bn Pakistan Energy Sukuk bond II by June end
• FX reserves held by the central bank fell US$203mn to US$7.60bn, with total FX reserves stood at US$14.63bn
• Average daily turnover fell 8.5% WoW to 124.8mn shares
• The news that the Qatar will invest $22 Bn failed to excite the Investors
• During the week, Cement prices also increased by Rs. 20/bag and further hike is also expected
• CAD shrinks 29 pc in 11 months
• OPEC to meet on July 1-2
• Fitch maintains Pakistan’s credit rating at B negative on external finance risks
• Power tariff raised to recover Rs190 bn under IMF deal

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 80.75
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.47
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 319.76
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 26.27
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 79.25
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 45.06
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 9.16
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 33.05
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 60.48
Target Price: PKR 105

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 67.20
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 54.57
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 275.77
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 27.75
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 19.00
Target Price: PKR 35.73

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 92.55
Target Price: PKR 115.77

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 16.29
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 11.67
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 72.59
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 122.31
Target Price: PKR 143.25

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 168.46
Target Price: PKR 206.8

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 81.52
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,176.80
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 35.48
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 57.81
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 5.46
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 405.75
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,056.29
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   176.32
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 87.10
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 25.40
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 842.90
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 37.75
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 35.64
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 15.92
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 101.82
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.80
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 136.90
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.44
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 25.15
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 423.22
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 155.57
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 178.88
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 72.64
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 152.43
Target Price: PKR 165.50

Thank you very much for reading this article.

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Written by: Rana Khuram