Pakistan Stock Exchange (PSX) Weekly Analysis 8 July, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FATIMA, FFBL, FCCL, FFBL, 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, PSMC, PSO, SNGP, and UBL.

Top gainers of last week were:  FFC, HBL, FFBL, NBP, ENGRO, INDU, and EFERT.

Top losers of last week were: EFOODS, HASCOL, ASTL, KEL, and PSMC.

Top Volume Leaders of last week:  UNITY, LOTCHEM, TRG, KEL, MLCF.

The Pakistan Stock Exchange (PSX) market index remained highly volatile and ended the week in the green, despite closing negative in two out of five trading sessions. The benchmark KSE-100 Index closed at 34,190 levels by gaining 288 points or 0.83%. While KSE-30 index closed on 16,125 by gaining 232 points or 1.46%.

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


  • Increase in temperature on the political front and strike from cement dealers, automobile dealers and closure of textile units on budgetary measures, investors sentiments were dampened and they were loath to carry heavy positions over the weekend
  • The IMF’s board granted the much-awaited approval for $6 billion Extended Fund Facility (EFF) for Pakistan
  • Moreover, the amnesty scheme - Asset Declaration 2019, concluded during the week collecting Rs70 billion in tax revenue through assets worth Rs3,000 billion filed by 137,000 beneficiaries
  • The positivity on macro front failed to transpire in investors’ sentiment, which was visible through drop in both average traded volumes, down by 41 percent to 87 million shares with value amounting to 20 million dollars, dipping by 30 percen
  • As per the IMF statement, Pakistan’s average inflation in fiscal year 2020 was expected to be in double-digit (~13 percent) and GDP growth was expected to depict a sluggish momentum, forecasted to grow by 2.4 percent which raised concerns among investors
  • Foreign investors remained on the front line to strengthen the equity market amid IMF bailout package and were net buyers of $5.83 million. However, local investors acted as a repelling agent and were on the selling end
  • The first tranche of $500 million was received from Qatar, along with loans arranged from syndicated banks and the World Bank, which aided the foreign currency reserves, improving investors’ sentiments
  • During the week, the rupee strengthened to 157 against the US dollar from nearly 160.5 last Friday
  • Investor participation took a hit as average daily trading volumes dropped 41% to 87 million shares while average daily traded value went down 29% to $20 million
  • The CPI for June clocked in at 8.9pc, well below street consensus of 9.5pc, taking full year average to 7.3pc in FY19
  • Planned roll-out of the new petroleum policy with concession for high risk fields and 35 additional blocks to be put up for bidding
  • Federal Cabinet approved the Search and Seizure rules for the SECP, the apex securities regulator, affording its officers the authority to conduct raids, seize evidence and secure search warrants
  • ADB and WB approved ~US$2.2bn in financing for projects in Karachi, including mobility enhancements
  • During the week Fertilizer companies added 180 points to the index followed by commercial banks, which added 122 points
  • The Asian Development Bank (ADB) on Friday approved a US$235 million loan to help develop a bus rapid transit (BRT) system with innovative energy and climate resilience features that will enhance access to quality public transport for people in Karachi
  • The Finance Division has refused to pay Rs15.8 billion worth of dues of retired employees of Pakistan Steel Mills (PSM) on account of gratuity, provident fund and leave encashment, saying it is not the liability of the federal government
  • Prime Minister Imran Khan has directed the Federal Board of Revenue (FBR) to launch a massive crackdown on holders of benami assets

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 73.00
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.40
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 296.12
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 23.51
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 78.91
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 43.12
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 9.09
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 32.13
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 55.19
Target Price: PKR 93.91

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 66.36
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 54.08
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 270.82
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 28.07
Target Price: PKR 46.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 28.83
Target Price: PKR 35.75

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

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 94.74
Target Price: PKR 115.77

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 15.63
Target Price: PKR 18.87

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 19.14
Target Price: PKR 36.65

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 10.20
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 63.94
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 118.75
Target Price: PKR 143.25

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 161.55
Target Price: PKR 206.8

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 80.17
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,253.12
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 35.60
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 54.18
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.93
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 378.52
Target Price: PKR 581.40

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   998.31
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   174.99
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 85.23
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 23.76
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 855.29
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 36.96
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 34.52
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 17.60
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 92.80
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 27.00
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 131.19
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 19.92
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 22.74
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 400.09
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 146.06
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 220.98
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 167.98
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 69.65
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 149.50
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