Pakistan Stock Exchange (PSX) Weekly Analysis 30 September, 2019

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, DGKC, EFERT, EFOODS, ENGRO, EPCL, FATIMA, FFBL, FCCL, FFBL, FFC, FML, GWLC, HBL, HMB, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, POL, PPL, PSMC, PSO, SNGP, and UBL.

Top gainers of last week were:  FCCL, KEL, EFOODS, KAPCO, and CHCC.

Top losers of last week were: HASCOL, MLCF, FFBL, HBL, HUBC, UBL, SEARL, and NBP.

Top Volume Leaders of last week:  KEL, MLCF, WTL, BOP, and PSO.

The Pakistan Stock Exchange (PSX) market index finished the week on a flattish note, despite a somewhat volatile week, ending a three-week winning streak to close 40 points down or 0.13% at 32,070 points. While KSE-30 index reached on 14,998 by gaining -105 points or 0.69 %.

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


  • Negative news flow – border tensions with India, International Monetary Fund baring government from extending sovereign guarantees till December review, and dip in the central bank’s reserves took toll on the investors’ sentiments throughout the week
  • Average volumes settled at 108 million shares, down 12 percent on weekly basis while average value clocked in at 25 million dollars, down 24 percent
  • Foreign selling clocked in at $8.8 million compared to a net buying of $7.8 million last week. Selling was witnessed in cement ($2.4 million) and commercial banks ($2.2 million)
  • On the local’s side, individuals were net seller of $1.18 million, while banks remained net buyers of $6.66 million
  • Sector-wise negative contributions came from commercial banks (122 points), power generation and distribution (24 points), chemical (21 points), pharmaceuticals (14 points), and automobile parts and accessories (13 points)
  • Oil prices were steady on Thursday, but headed for a weekly loss, weighed down by slowing Chinese economic growth that dampened the demand outlook. Brent fell six cents to $62.68 a barrel, while West Texas Intermediate rose 18 cents to $56.59 a barrel
  • Upcoming Financial Action Task Force (FATF) review scheduled from 10-14 October might play a vital role in determining the market’s path
  • The IMF mission appreciating the progress achieved so far in the program while highlighting the need for ‘decisive implementation’ to pave the way for stronger and sustainable growth
  • Privatization Commission reportedly putting two state owned E&Ps OGDC & PPL on active privatization list
  • The National Tariff Commission (NTC) imposing provisional anti-dumping duty of 13.94% on CRC imports from Russia and Canada
  • The gov’t officially initiating the process of Eurobond/Sukuk issuance, inviting the financial advisors to submit their proposals
  • Imran Khan’s meeting with US President Donald Trump also failed to excite investors
  • Pakistan State Oil (PSO) recorded gain of 4.4% week-on-week as the company reported impressive earnings in its financial result for FY19
  • After Friday’s speech in the United Nations by PM Imran Khan, investors would watch for any hint of things turning ugly in Kashmir as warned by Pakistan
  • OGRA proposes petrol prices be reduced by Rs2.55 per litre

Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 87.07
Target Price: PKR 118.50

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 71.49
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 17.90
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 310.66
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 22.24
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 66.99
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 40.30
Target Price: PKR  50.89

Bank of Punjab (BOP) – BUY 
Current Price: PKR 8.75
Target Price: PKR 18.3

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 47.51
Target Price: PKR 53.20

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 67.78
Target Price: PKR 77.10

Engro Foods (EFOODS) – BUY 
Current Price: PKR 57.30
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 266.70
Target Price: PKR 321.56

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 24.57
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 26.59
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 14.86
Target Price: PKR 32.07

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 92.94
Target Price: PKR 115.77

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 13.13
Target Price: PKR 18.87

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 89.95
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 8.51
Target Price: PKR 25

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 119.59
Target Price: PKR 140.47

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 29.50
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY
Current Price: PKR 73.21
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 998.49
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 33.01
Target Price: PKR 41.93

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 46.86
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 13.96
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 347.74
Target Price: PKR 581.40

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   907.19
Target Price: PKR 1,502.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   169.20
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 72.14
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 14.73
Target Price: PKR 22.90

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 700
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 28.96
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 33.70
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.92
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 83.10
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 22.44
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 122.79
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 16.51
Target Price: PKR 18.30

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 374.98
Target Price: PKR 400

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 133.68
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 162.42
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 156.49
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 60.93
Target Price: PKR 78.4

United Bank Limited (UBL) – BUY 
Current Price: PKR 138.97
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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