Pakistan Stock Exchange (PSX) Weekly Analysis 26 August, 2019

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, CHCC, DGKC, EFERT, EFOODS, ENGRO, EPCL, FATIMA, FFBL, FCCL, FFBL, FFC, FML, GWLC, HASCOL, HBL, HCAR, HMB, 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:  ENGRO, HBL, OGDCL, HUBCO, and MCB.

Top losers of last week were: PPL, FFC, UBL, LUCK, and POL.

Top Volume Leaders of last week:  TRG, MLCF, BOP, UNITY, and World Call Telecom.

The Pakistan Stock Exchange (PSX) market index bounced back in a spectacular fashion after a six-week-long massive sell-off. This was not only the best performing week in the past 10 years in percentage terms, but was also marked for a merciless bull charge that helped to drive away the bears who held the market in tight bear hug for the past six consecutive weeks. KSE-100 index closed at 31,350 points by gaining 2,585 points or 9 percent.

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


  • The improvement of business environment, the increase of taxation scale, the adjustment of development focus and the optimization of foreign-related cooperation are its outstanding features
  • The auction of Pakistan Investment Bonds (PIBs), held during the week, also revived the mood with the result indicating that there would most likely not be any more interest rate hike
  • Investor participation picked up sharply with average daily trading volumes surging 135% week-on-week to 174 million shares, while the average daily traded value rose 83% to $38 million
  • Rumors regarding the Financial Action Task Force (FATF) putting Pakistan on the blacklist dented sentiments, taking some shine off the spectacular week
  • The sector-wise positive contribution was led by commercial banks (744 points), oil and gas exploration companies (469 points), fertilizer firms (319 points), cement plants (235 points), and power generation and distribution companies (216 points). Stock-wise, positive contribution came from Engro (256 points), Oil and Gas Development Company (205 points), HBL (188 points), Hubco (160 points) and MCB Bank (147 points)
  • Foreign selling was witnessed during the week, which came in at $4.97 million compared to net buying of $1.7 million last week
  • Current account gap narrowing in July on improved trade balance
  • World Bank president planning to visit Pakistan in first week of November

Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 85.77
Target Price: PKR 118.50

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 80.50
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 17.03
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 269.91
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 19.44
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 70.18
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 40.98
Target Price: PKR  50.89

Bank of Punjab (BOP) – BUY 
Current Price: PKR 8.45
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 28.69
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 54.31
Target Price: PKR 93.91

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 66.29
Target Price: PKR 77.10

Engro Foods (EFOODS) – BUY 
Current Price: PKR 52.33
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 263.56
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 23.16
Target Price: PKR 46.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 25.60
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 16.44
Target Price: PKR 35.73

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 90.13
Target Price: PKR 115.77

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 15.40
Target Price: PKR 18.87

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 105.02
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 9.91
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 43.56
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 118.06
Target Price: PKR 140.47

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 149.64
Target Price: PKR 206.8

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 33.14
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 68.33
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,061.46
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 29.83
Target Price: PKR 41.93

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 48.04
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.29
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 367.48
Target Price: PKR 581.40

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   897.31
Target Price: PKR 1,502.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   172.11
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 77.74
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 19.97
Target Price: PKR 22.90

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 673.68
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 32.14
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 31.05
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 15.83
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 76.40
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 23.18
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 122.28
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 17.18
Target Price: PKR 18.30

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 21.55
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 385.17
Target Price: PKR 400

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 119.50
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 176.68
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 141.02
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 59.58
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 131.85
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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