Pakistan Stock Exchange (PSX) Weekly Analysis 14 October, 2019

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

Top gainers of last week were:  HBL, MARI, UBL, FFBL, MEBL, HASCOL, PAEL, POL, and HUBC.

Top losers of last week were: EFOODS, FATIMA, KAPCO, APL, PSMC, and FCCL.

Top Volume Leaders of last week:  WTL, LOTCHEM, UNITY, BOP, KEL, and TRG.

The Pakistan Stock Exchange (PSX) market index bulls maintained their grip on the Pakistan stock market in the outgoing week. KSE-100 index closed on 34,476 by gaining 1443 points or 4.37 %. While KSE-30 index reached on 16,237 by gaining 744 points or 4.80 %.

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


  • From its recent bottom of 28,765 points hit on August 16, 2019, the KSE-100 index has gained 20%
  • The visit of Prime Minister Imran Khan to China acted as a catalyst for investors as sentiment improved on expectations of a positive outcome from the trip
  • The index remained under pressure over domestic economic uncertainty and a fall in global crude oil prices
  • The news of an increase in cement prices in the northern region drove activity in the cement sector
  • The uptrend also came on the back of a decline in treasury bill yields in the latest auction where yields of three, six and 12-month bills fell 4 basis points (bps), 29bps and 38bps respectively
  • Market participants got further support from the State Bank of Pakistan governor’s remarks in which he indicated that the economy was moving towards macroeconomic stabilisation and success on the external front
  • Trading activity improved as average daily volumes for the week were up 28% to 284 million shares while average daily traded value increased 42% to $56.9 million
  • Foreign investors took the opportunity to book profits as they were net sellers of $4.15 million compared to net selling of $4.7 million last week. Major selling was witnessed in commercial banks ($4.56 million) and exploration and production firms ($1.73 million)
  • Many companies are expected to announce financial results in the forthcoming week, which further strengthened investor sentiment
  • A rise in global crude oil prices in the wake of attack on an Iranian oil tanker gave a boost to stocks of exploration and production companies and the entire sector posted handsome gains
  • The Pakistan Bureau of Statistics (PBS) developed a software that would help automatic selection of samples for various surveys, hence reducing the human interference in this process by around 90 percent
  • The State Bank of Pakistan (SBP) conducted an auction in which it sold Market Treasury Bills (MTBs) worth Rs.883.55 billion for 3, 6 and 12 months
  • Next meeting of the federal cabinet to be held on 15th Oct to potentially announce another reshuffle in the cabinet
  • FBR's direction to big retailers to install point-of-sale invoicing app into their systems by December 1 to report turnover with the tax authority on realtime basis
  • Upcoming week also includes board meetings of HBL, ABL, MCB, APL, ACPL, ISL, EPCL, LOTCHEM and EFERT for financial result announcements, which could sway the market

Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 88.06
Target Price: PKR 109.9

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 80.50
Target Price: PKR 104.0

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.53
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 303.24
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 26.10
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 70.00
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.61
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 9.79
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 69.45
Target Price: PKR 83.8

Engro Foods (EFOODS) – BUY 
Current Price: PKR 68.61
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 281.54
Target Price: PKR 340.9

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 28.24
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 26.04
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 18.71
Target Price: PKR 23.0

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 95.95
Target Price: PKR 116.45

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 14.94
Target Price: PKR 16.30

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 98.01
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 10.10
Target Price: PKR 25

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 31.50
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY
Current Price: PKR 76.76
Target Price: PKR 101.05

Interloop Ltd. (ILP) – BUY 
Current Price: PKR 44.75
Target Price: PKR 57.0

Indus Motors (INDU) – BUY 
Current Price: PKR 1,017.17
Target Price: PKR 1,165.5

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 34.41
Target Price: PKR 50.0

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 56.21
Target Price: PKR 87.2

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.07
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 388.41
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,164.21
Target Price: PKR 1,502.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   172.74
Target Price: PKR 211.3

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 82.28
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 17.72
Target Price: PKR 22.90

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 740.20
Target Price: PKR 811.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 34.55
Target Price: PKR 46.8

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 38.35
Target Price: PKR 45.1

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 18.05
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 92.36
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 23.28
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 128.97
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 395.93
Target Price: PKR 469.2

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 137.08
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 169.19
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 175.26
Target Price: PKR 189.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 68.51
Target Price: PKR 78.4

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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