Pakistan Stock Exchange (PSX) Weekly Analysis 17 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, SNGP and UBL.

Top gainers of last week were:  HASCOL, HUBCO, HBL, BAHL, ENGRO, TRG, ASTL, CHCC, PIOC, and GWLC.

Top gainers of last week were:  FFC, EFERT, LUCK, POL, and MCB.

Top Volume Leaders of last week were:  BOP, PAEL, UNITY, TRG, and FCCL.

The Pakistan Stock Exchange (PSX) market index witnessed another spectacular rally for the third consecutive week. KSE-100 index closed on 37,584 by gaining 1,606 points or 4.46%. While KSE-30 index closed on 17,341 by gaining 587 points or 3.50%.

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


  • A staff mission of IMF on 8th Nov’19, Friday concluded its visit to Pakistan with all praise to authorities for over-performing on first quarter targets under the $6 billion Extended Fund Facility, paving way for the disbursement of $450 million early next month
  • The easing of political noise after the end of sit-in by the JUI-F and expected departure of former premier Nawaz Sharif abroad for medical treatment kept sentiment upbeat at the stock market
  • Pick up in foreign investment in treasury bills (US$267mn during the first two weeks of Nov’19)
  • SBP’s decision to increase loans for the exporters by Rs100 billion
  • Allocation of additional Rs250 billion to resolve the problem of circular debts
  • Tax incentives for the companies involved in construction of houses
  • Allowing manufacturing sector an advance payment of upto $10,000 for import of raw materials and spare parts to spur LSM sector
  • Trade deficit shrinking by 29/34% YoY in Oct’19/4MFY20
  • Major data released during the week included auto sales data released by PAMA, which indicated 56% YoY decline in car sales for Oct’19, owed to a slowdown in economy and higher car prices
  • Data from the Pakistan Bureau of Statistics showed a 33.5% contraction in trade deficit in first four months of the current fiscal year 2019-20, which helped the market close the week with substantial gains
  • Investor participation continued to rise in the stock market as average daily traded volumes jumped 21% week-on-week to 311 million shares while average daily traded value rose 17% to $64 million
  • Foreign investors were net buyers of $4.2 million worth of shares during the week under review compared to net selling of $4.5 million last week. Buying was witnessed in fertiliser companies ($5.1 million) and commercial banks ($3.8 million)

Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 90.37
Target Price: PKR 109.9

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 95.80
Target Price: PKR 104.0

Askari Bank (AKBL) – BUY 
Current Price: PKR 17.80
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 343.64
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 40.20
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 75.51
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.59
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 10.87
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 77.12
Target Price: PKR 83.8

Engro Foods (EFOODS) – BUY 
Current Price: PKR 72.55
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 328.39
Target Price: PKR 340.9

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 30.77
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 27.00
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 20.90
Target Price: PKR 23.0

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 95.76
Target Price: PKR 116.45

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 16.37
Target Price: PKR 16.30

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 90.00
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 11.63
Target Price: PKR 25

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 34.25
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY
Current Price: PKR 82.69
Target Price: PKR 101.05

Interloop Ltd. (ILP) – BUY 
Current Price: PKR 47.40
Target Price: PKR 57.0

Indus Motors (INDU) – BUY 
Current Price: PKR 1,199.46
Target Price: PKR 1,452.06

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 34.57
Target Price: PKR 41.93

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 74.47
Target Price: PKR 87.2

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.14
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 388.82
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,231.27
Target Price: PKR 1,366.0

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   191.31
Target Price: PKR 211.3

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 84.57
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 20.03
Target Price: PKR 22.90

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 696.85
Target Price: PKR 811.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 39.23
Target Price: PKR 46.8

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 37.05
Target Price: PKR 45.1

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 18.13
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 98.26
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.50
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 133.94
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 413.18
Target Price: PKR 469.2

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 122.08
Target Price: PKR 186.7

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 196.63
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 174.61
Target Price: PKR 189.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 73.80
Target Price: PKR 78.4

United Bank Limited (UBL) – BUY 
Current Price: PKR 147.73
Target Price: PKR 165.6


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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