Pakistan Stock Exchange (PSX) Weekly Analysis 1 July, 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:  NATF, FATIMA, HBL Growth Fund, KEL, ABL, LUCK, and SCBL.

Top losers of last week were: HBL, PPL, OGDC, LUCK, PMPK, OGDC, and NBP.

Top Volume Leaders of last week:  SLK, KEL, BOP, FFBL, FCCL, UNITY, and MLCF.

The Pakistan Stock Exchange (PSX) market index continued to be in doldrums for another week as concerns over disappointing economic indicators mounted further. The benchmark KSE-100 Index closed at 33,902 levels by losing -1,223 points or -3.5%.

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


  • Afghan President Ashraf Ghani visited Pakistan to improve ties and boost bilateral trade
  • Average daily trading volumes rose 17.4% to 147 million shares while average daily traded value went up 5.7% to $29 million
  • In terms of sectors, negative contribution came from commercial banks (down 306 points), oil and gas exploration companies (279 points), fertilizer producers (197 points), cement manufacturers (126 points) and oil and gas marketing companies (81 points)
  • Foreign buying was witnessed during the week under review, which came in at $7.9 million compared to net selling of $5.7 million last week
  • The stock market remained under selling pressure during the outgoing week because of the number of negative developments such as increase in gas price, talks that cement dealers would go on strike, lower growth forecast by an international rating agency, and expectation of higher inflation rate
  • Pak Suzuki was the biggest loser at 19 percent during the past week in light of shrinking margins and limited pricing power to fully pass on the mounting cost
  • Honda Car stood next in line with 12 percent decline despite a large increase in car prices up to 425,000/unit
  • An analyst from Arif Habib said the market might rebound next week, as formal approval by the IMF of the bailout package for Pakistan provides some relief to investors
  • Negative sentiments were also fuelled by the statement of outgoing Financial Action Task Force (FATF) President Marshall Billingslea that Pakistan had failed to implement the action plan and there was a possibility of it being placed on the blacklist in October 2019
  • Gas tariff hike of up to 191% was approved by the Economic Coordination Committee (ECC), which would aggravate inflationary pressures in the economy, lending credence to concerns of further monetary tightening by the State Bank of Pakistan (SBP)
  • Qatar pledging $3 billion injection in the form of deposit and direct investment
  • Suzuki raises vehicle prices by Rs40,000-329,000
  • Lucky Cement (LUCK) notified the exchange regarding Kia Lucky Motors Pakistan Limited (KLM) a subsidiary of Lucky Cement, has successfully completed installation of its Plant & pilot production has commenced. Plant will have annual capacity of 50,000 units on a double shift basis
  • Matco Foods Limited (MFL) has announced today that it has completed the procurement & installation of the rice glucose plant & rice protein plant having capacity of 20,000MT & 2,000MT respectively
  • Asset Declaration Scheme likely to be extended as FBR struggles to get desired results
  • The Oil and Gas Regulatory Authority (OGRA) has recommended a decrease in the prices of petroleum products, as per summary a decrease of Rs0.77 per liter was recommend in the price of petrol. If approved, the price of petrol would go down to Rs111.91 per liter

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 71.41
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.91
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 288.51
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 24.66
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 78.38
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 43.59
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 9.15
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 30.96
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 56.54
Target Price: PKR 105

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 63.97
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 58.33
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 265.60
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 26.96
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 18.23
Target Price: PKR 35.73

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 87.20
Target Price: PKR 115.77

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 15.73
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 10.36
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 68.62
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 113.26
Target Price: PKR 143.25

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 148.32
Target Price: PKR 206.8

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 78.75
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,203.92
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 36.38
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 52.53
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.25
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 380.47
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,009.33
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   174.45
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 87.16
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 23.89
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 862.38
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 33.66
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 35.02
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 17.41
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 93.34
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 27.54
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 131.49
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 20.02
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 22.65
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 405.89
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 144.43
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 169.63
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 69.49
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 147.38
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