Pakistan Stock Exchange (PSX) Weekly Analysis 21 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:  LUCK, EFOODS, HBL, MEBL, HINO, PHDL, MUREB, ATLH and UBL.

Top losers of last week were: NCL, NML, PAEL, FATIMA, MLCFPPL, HUBCO, ENGRO, OGDC, and POL.

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

The Pakistan Stock Exchange (PSX) market index dominated by bears, during the week ended on July 19 as persistent selling pressure dragged the benchmark index down. The benchmark KSE-100 Index closed at 32,459 levels by losing 1213 points or 3.60%. While KSE-30 index closed 15,396 by losing 539 points or 3.38%.

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


  • The State Bank of Pakistan (SBP) on Tuesday announced to increase its policy (interest) rate by 100 basis points to 13.25 per cent; effective from July 17, 2019
  • Awarding of USD 5.8 billion penalty in damages to Pakistan in Reko Diq - Tethyan Copper case, also moved the bourse 
  • Auction of PKR 2.2 trillion worth of MTBs by SBP
  • Foreigners remained net buyer during the week amounting to USD 6.44mn, primarily contributed by foreign corps amounting to USD 7.32mn. Whereas local investors remained net seller amounting to USD 6.44mn, mainly contributed by mutual funds (USD 19.27mn). While the broker remained net buyer with the amount of USD 0.96mn.
  • Political temperature remained on higher side in the capital as arrests might results in nation-wide protests
  • The upcoming visit of Prime Minister Imran Khan to the US renewed hopes of better trade ties, which helped the index advance into the positive territory
  • Any gains the market made were wiped out as the index once again turned bearish on Thursday following arrest of former prime minister Shahid Khaqan Abbasi in the liquefied natural gas (LNG) import case
  • Trading activity picked up significantly as volumes jumped 107% week-on-week to 106 million shares while traded value increased 83% to $23 million
  • On the domestic front, major selling was reported by mutual funds ($19.3 million), however, individuals remained net buyers of $9.9 million
  • Fertilizer prices have been increased
  • The government going to further increase power tariff by Rs3.5 per unit
  • FBR chairman continued to tighten its noose on non-filers across different sectors to meet IMF’s stringent demand to increase tax to GDP ratio by 4-5 ppt in FY20
  • FDI dropped 50% to US$1.73bn in FY19, hitting a five-year low
  • CAD shrunk 32% in FY19 to US$13.6bn
  • Terming the traders’ recent countrywide strike ‘politically motivated’, the federal cabinet on Tuesday resolved not to withdraw its decision on registration of traders to bring them under the tax net
  • Massive import under invoicing data came to the forefront through an analysis from Web-Based One Customs System Glo (WeBOC-Glo)


Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 66.51
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.82
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 272.36
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 20.67
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 74.96
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 41.66
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 7.86
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 31.51
Target Price: PKR 61.29

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 44.94
Target Price: PKR 93.91

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 64.05
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 51.75
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 260.53
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 27.63
Target Price: PKR 46.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 24.54
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 17.84
Target Price: PKR 35.73

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 94.09
Target Price: PKR 115.77

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 13.67
Target Price: PKR 18.87

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

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 53.61
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 118.57
Target Price: PKR 143.25

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 121.67
Target Price: PKR 206.8

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 74.05
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,067.88
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 33.63
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 47.95
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.40
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 385.24
Target Price: PKR 581.40

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   971.00
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   175.14
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 81.97
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 19.78
Target Price: PKR 43.80

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 823.04
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 35.00
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 27.75
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.98
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 77.15
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.45
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 127.00
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 16.26
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 20.91
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 380.93
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 134.88
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 198.35
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 153.51
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 64.65
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 146.78
Target Price: PKR 165.50

Thank you very much for reading this article.

NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) 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.com/) 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.com/)  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

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