Pakistan Stock Exchange (PSX) Weekly Analysis 28 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:  OGDC, HASCOL, ASTL, POL, and KAPCO.

Top losers of last week were: LUCK, BAHL, HUBC, PSEL, PIOC, FFBL, PSMC, NCL, GWLC and HBL.

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

The Pakistan Stock Exchange (PSX) market indexremained bearish for the second successive week as investors harnessed risk-off sentiments due to the growing political noise where JUI (F) was determined to hold Azadi march on 27th and rally to Islamabad on 31st, with other major political parties also agreeing to join. KSE-100 index closed on 33,657 by losing 213 points or - 0.63 %. While KSE-30 index reached on 15,738 by losing 91 points or - 0.57 %.

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


  • Average daily volume shrank 11pc to 125m shares, while average value traded came in at $25m, down 17pc
  • Commercial Banks, Cement, Power Generation & Distribution sector emerged as the top losers during the week
  • This week, the local investors sold securities worth of Rs. 41.9 billion, amongst which, Individual investors emerged as the largest net sellers as they sold securities worth Rs.487.5 million. On the flip side, local investors bought securities worth 41.48 billion. This resulted in an overall net selling of Rs. 432.9 million over the week
  • Net foreign buying was witnessed clocking in at $2.8 million compared to net sale of $2.1m. Foreign inflows were witnessed in cement at $2m and fertiliser $1.2m. On the domestic front, major selling was reported by individuals $3.1m and companies $2.2m
  • Pak Rupee continued to appreciate against the Dollar for the third straight week and in the week leading up, it gained another 2 paisa as compared to last Friday
  • A delegation of the US investors announced to invest one-hundred million dollars in the tourism sector of Pakistan
  • Pakistan Energy Sukuk-I (PES-I) issue of Rs200 billion, issued by Power Holding Limited (PHL) got listed at the Pakistan Stock Exchange (PSX). PES-I is the largest Shariah-compliant financial instrument ever listed at a stock exchange in Pakistan
  • Earnings season is in full bloom, where major corporates such as Fauji Fertiliser, GlaxoSmithKline, Kot Addu Power, Searle Company, Indus Motors, National Bank, Nishat Chunian, Nishat Mills, Cherat Cement, Gul Ahmed, Fatima Fertiliser, Pakistan State Oil, Pakistan Petroleum, Amreli Steels, Hub Power and Lucky scheduled to announce their results
  • K-Electric awarded $650 million contract to Siemens and Harbin Electric
  • Steel industry demanded ban on import via land route, tax amnesty drove healthy growth in bank deposits
  • SBP’s FX reserves increasing by US$79mn to US$7.89bn during the week ended Oct 18’19


Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 87.90
Target Price: PKR 109.9

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 75.86
Target Price: PKR 104.0

Askari Bank (AKBL) – BUY 
Current Price: PKR 17.84
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 288.01
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 27.70
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 67.70
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 42.90
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 9.49
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 71.38
Target Price: PKR 83.8

Engro Foods (EFOODS) – BUY 
Current Price: PKR 63.71
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 293.21
Target Price: PKR 340.9

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 28.20
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 25.63
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 16.18
Target Price: PKR 23.0

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 97.33
Target Price: PKR 116.45

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 14.57
Target Price: PKR 16.30

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 91.48
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 8.86
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 72.09
Target Price: PKR 101.05

Interloop Ltd. (ILP) – BUY 
Current Price: PKR 46.21
Target Price: PKR 57.0

Indus Motors (INDU) – BUY 
Current Price: PKR 931.17
Target Price: PKR 1,165.5

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 29.61
Target Price: PKR 50.0

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 52.52
Target Price: PKR 87.2

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.37
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 344.82
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,090.56
Target Price: PKR 1,502.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   169.84
Target Price: PKR 211.3

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 79.04
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 15.36
Target Price: PKR 22.90

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 590.74
Target Price: PKR 811.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 34.47
Target Price: PKR 46.8

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 36.29
Target Price: PKR 45.1

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.25
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 84.74
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 22.20
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 129.01
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 389.83
Target Price: PKR 469.2

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 112.68
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 150.26
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 137.78
Target Price: PKR 189.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 65.20
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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