Pakistan Stock Exchange (PSX) Weekly Analysis 2 December, 2019

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

Top gainers of last week were:  UBL, HUBCO, HBL, ENGRO, MCB, FFC, FFBL, PSMC, HASCOL, MLCF, EFERT, PSO, LUCK, FCEPL, GWLC, and NATF.

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

The Pakistan Stock Exchange (PSX) market index had a phenomenal rally in the outgoing week despite political uncertainty that jolted investors briefly. KSE-100 index closed on 39,288 by gaining 1362 points or 3.59%. While KSE-30 index closed on 18,010 by gaining 479 points or 2.73%.

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


  • The monetary policy committee of the SBP kept discount rates unchanged at 13.25% due to high inflationary pressures, warning that inflation could rise beyond the target set for the current fiscal year
  • The Supreme Court Thursday granted six month extension in the service of Army Chief General Qamar Javed Bajwa after the government gave an undertaking assuring the court of proper legislation within six months specifying the terms and conditions of service of the army chief
  • The benchmark KSE-100 index managed to sustain its winning streak for the fifth successive week as it advanced 1,362 points or 3.59% and crossed the 39,000 mark after eight months
  • In November 2019, the KSE-100 index increased 5,084 points or 14.9% month-on-month – this is the highest monthly return after May 2013
  • The trend changed in the following session after the Supreme Court took notice of extension in the chief of army staff’s tenure. The development caused panic among investors who offloaded stocks in droves, thus pushing the index once again below the 38,000-point level
  • The bearish activity proved short-lived and the index returned to the green zone on Wednesday amid range-bound trading. The recovery came as investors considered the extension in army chief’s tenure as a procedural issue
  • Foreigners offloaded stocks worth $8.06 million in the outgoing week compared to net buying of $8.46 million last week. Major selling was witnessed in cement firms ($3.36 million) and exploration and production companies ($1.95 million). On the domestic front, buying was reported by mutual funds ($11.06 million), followed by individuals ($7.30 million)
  • On a surprise trip to Afghanistan on Thursday, President Trump said the United States had reopened peace talks with the Taliban — just three months after the president scuttled negotiations 
  • Forex reserves held by the SBP rose US$240mn to US$8.6bn due to official inflows, the SBP said while foreign exchange reserves held by commercial banks fell to US$6.8bn from US$7.0bn

Following are few BUY recommendations:

Allied Bank (ABL) – BUY
Current Price: PKR 93.39
Target Price: PKR 109.9

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 91.74
Target Price: PKR 104.0

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.30
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 362.95
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 38.45
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 75.08
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 45.64
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.62
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 68.98
Target Price: PKR 83.8

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 33.54
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 27.89
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 22.28
Target Price: PKR 31.34

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 106.37
Target Price: PKR 116.45

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 96.82
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.21
Target Price: PKR 25

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 35.50
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY
Current Price: PKR 90.79
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,222.45
Target Price: PKR 1,452.06

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 34.00
Target Price: PKR 41.93

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

Lucky Cement (LUCK) – BUY 
Current Price: PKR 420.29
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,222.37
Target Price: PKR 1,366.0

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   200.53
Target Price: PKR 211.3

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 87.36
Target Price: PKR 115.80

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 733.18
Target Price: PKR 811.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 42.85
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 36.91
Target Price: PKR 45.1

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 19.11
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 100.26
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 27.25
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 132.03
Target Price: PKR 190

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 120.04
Target Price: PKR 186.7

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 238.75
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 183.25
Target Price: PKR 195.00

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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