Pakistan Stock Exchange (PSX) Weekly Analysis 24 November, 2019

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, EFERT, EFOODS, 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 UBL.

Top gainers of last week were:  HUBCO, FFC, PSO, LUCK, GWLC, EFERT, HUBC, and NATF.

Top losers of last week were:  FFC, EFERT, LUCK, POL, CHCC, FFBL, FCEPL, PSMC, MLCF, and MCB.

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

The Pakistan Stock Exchange (PSX) market index ended positive as slight recovery was made in the last session following highly volatile sessions during the week on the back of profit booking and rising treasury bill yields in three and 12 months papers. KSE-100 index closed on 37,926 by gaining 342 points or 0.9%. While KSE-30 index closed on 17,531 by gaining 191 points or 1.09%.

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


  • As per expectation, the Monetary Policy Committee of State Bank of Pakistan has decided to maintain the status quo by keeping the Policy Rate unchanged at 13.25%
  • International Monetary Fund (IMF) approved issue of sovereign guarantees worth Rs250 billion for tackling circular debt, which improved sentiment in the power sector
  • Foreign buying witnessed this week clocked-in at $8.5 million compared to a net buy of $4.2 million last week
  • Buying in commercial banks was recorded at $6.7 million and fertiliser at $3.6 million
  • On the domestic front, major selling was reported by banks/DFIs and insurance companies. Average daily trading volumes surged 6.0 percent to 331 million shares/day
  • Textile exports recorded 7.0 percent jump in October with particularly strong growth in value-added segments
  • On the economic front, central bank kept the policy rate unchanged at 13.25 percent, while the latest data reveals foreign exchange reserves with the central bank inched up a mere $45 million to reach $8.4 billion in the week ended November 15, 2019
  • The decision to allow unconditional permission to former Prime Minister Nawaz Sharif to travel abroad for medical treatment also helped clear jitters of political friction. Almost simultaneously, the JUI-F party ended the Azadi (freedom) March
  • K-Electric dedicated 12MW grid to Getz pharma
  • PIA acquired two A320 aircraft on dry lease
  • Ufone and PTCL announced joint major restructuring
  • Government engaged Oil and Gas Development, Pakistan Petroleum, and Mari Petroleum to explore four blocks
  • A Chinese company expressed intention to invest $250 million in Service Industries
  • DG Khan Cement announced expansion plans
  • With current account deficit turning surplus at $99 million and foreign reserves rising amid investment in T-Bills, which has now reached $1.0 billion since July 2019 to date, positive sentiments are expected to persist
  • In terms of sectors, positive contributions came from power generation and distribution (up 140 points), fertiliser (102 points), and oil and gas marketing companies (66 points). On the other hand, commercial banks (down 74 points), transport (15 points), and refinery (11 points) dragged the index lower
  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 1.09% during the week ended Nov 14, 2019 while the SPI increased by 19.62% compared to the corresponding period from last year
  • Rebuttal by FBR chief on news flows suggesting IMF accepting Government demands of downward revision in revenue targets

Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 90.25
Target Price: PKR 109.9

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 96.02
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 345.16
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 38.93
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 73.91
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.34
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.13
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 70.49
Target Price: PKR 83.8

Engro Foods (EFOODS) – BUY 
Current Price: PKR 68.50
Target Price: PKR 80.87

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 30.49
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 26.99
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 19.54
Target Price: PKR 23.0

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 101.80
Target Price: PKR 116.45

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 15.88
Target Price: PKR 16.30

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 90.39
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.83
Target Price: PKR 25

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 33.75
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY
Current Price: PKR 88.82
Target Price: PKR 101.05

Interloop Ltd. (ILP) – BUY 
Current Price: PKR 50.97
Target Price: PKR 57.0

Indus Motors (INDU) – BUY 
Current Price: PKR 1,216.92
Target Price: PKR 1,452.06

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 34.88
Target Price: PKR 41.93

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 80.29
Target Price: PKR 87.2

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 14.72
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 399.87
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,242.94
Target Price: PKR 1,366.0

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   191.38
Target Price: PKR 211.3

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 83.28
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 19.34
Target Price: PKR 22.90

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 691.17
Target Price: PKR 811.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 40.24
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 37.67
Target Price: PKR 45.1

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 18.94
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 101.71
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 27.51
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 133.66
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 409.68
Target Price: PKR 469.2

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 123.02
Target Price: PKR 186.7

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 187.09
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 183.11
Target Price: PKR 195.00

United Bank Limited (UBL) – BUY 
Current Price: PKR 150.10
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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