Pakistan Stock Exchange (PSX) Weekly Analysis 3 November, 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:  CHCC, PIOC, DAWH, MCB, PSO, LUCK, ASTL, and DGKC.

Top losers of last week were: FFC, OGDC, HASCOL, NCL, MEBL, and Nestle.

Top Volume Leaders of last week:  WTL, BOP, MLCF, FCCL, and PIBTL.

The Pakistan Stock Exchange (PSX) market index bounce back in noisy week, after posting losses for two successive weeks despite the turmoil in the country and uncertainty among the business community. KSE-100 index closed on 34,378 by gaining 721 points or 2.14 %. While KSE-30 index reached on 16,045 by losing 307 points or 1.95 %.

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


  • Tensions mounted on the political front, as the Jamiat Ulema-e-Islam Fazl’s (JUI-F) Azadi March reached the federal capital and demanded the prime minister to resign
  • Trading began on a positive note following the government’s move to defer the axle load policy for a year
  • The meager increase in cement prices in the northern region, acted as a catalyst for the market as increased interest was seen in cement and steel stocks
  • On the opposite side of the Azadi March, traders observed a two-day countrywide strike demanding the withdrawal of the CNIC condition imposed in the budget 2019-20. Although the strike was called off after two days following an agreement with the government, the impact was felt by the stock market
  • Declining PIB bond yields(3y/5y/10y bond yields down 115/90/90bps) that provided juice to market expectation of an early rate cut
  • Foreign investors turned net sellers of $3.13 million during the week compared to net selling of $2.8 million last week
  • Petrol price was hiked by Re1 for November 2019 and Prime Minister Imran Khan demanded a comprehensive plan to control price hike and ensure availability of essential food items in the markets
  • Foreign investors sold stocks worth $3.13 million during the week compared to net buy of $2.78m in the preceding week. Major outflow was witnessed in exploration and production at $2.06m and textile $1.34m. On the local front, buying was reported by companies at $5m followed by mutual funds $2.79m. Insurance companies were net sellers of stocks worth $2.19m
  • World Bank Group President David Malpass on Thursday while addressing to a “Doing Business Reforms Exhibition”, said the reforms carried out by Pakistan for ease of doing business would help create jobs, attract investment and generate more tax revenue

Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 89.00
Target Price: PKR 109.9

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 86.80
Target Price: PKR 104.0

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.00
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 301.97
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 32.87
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 68.66
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 42.69
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 10.07
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 71.58
Target Price: PKR 83.8

Engro Foods (EFOODS) – BUY 
Current Price: PKR 67.86
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 298.44
Target Price: PKR 340.9

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 29.01
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 25.72
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 17.24
Target Price: PKR 23.0

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 94.61
Target Price: PKR 116.45

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 15.74
Target Price: PKR 16.30

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 89.91
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 9.68
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 74.21
Target Price: PKR 101.05

Interloop Ltd. (ILP) – BUY 
Current Price: PKR 45.48
Target Price: PKR 57.0

Indus Motors (INDU) – BUY 
Current Price: PKR 935.33
Target Price: PKR 1,165.5

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 30.66
Target Price: PKR 50.0

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 61.26
Target Price: PKR 87.2

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.31
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 362.69
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,127.18
Target Price: PKR 1,502.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   174.66
Target Price: PKR 211.3

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 77.96
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 17.15
Target Price: PKR 22.90

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 598.30
Target Price: PKR 811.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 35.77
Target Price: PKR 46.8

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 32.53
Target Price: PKR 45.1

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.26
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 83.60
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 22.50
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 127.63
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 389.69
Target Price: PKR 469.2

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 113.95
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 155.62
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 154.43
Target Price: PKR 189.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 66.75
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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