Pakistan Stock Exchange (PSX) Weekly Analysis 15 December, 2019

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

Top gainers of last week were:  OGDC, PPL, MARI, HBL, PSO, SNGP, NML, NCL, ENGRO, UBL, DAWH, LUCK, ICI, NESTLE, and POL.

Top losers of last week were:  PSMC, PIOC, ASTL, KEL, and FFBL.

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

The Pakistan Stock Exchange (PSX) market index witnessed a jubilant week, Bulls dominated the stock market as the index recorded its seventh successive week in the green on back of continued investor confidence due to improvement on the macroeconomic front. KSE-100 index closed on 40,917 by gaining 185 points or 0.45%. While KSE-30 index closed on 18,619 by gaining 20 points or 0.11 %.

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


  • E&P Companies emerged as the best performing sector during the week, as it contributed 273 points to the index, followed by Chemical Sector (54 pts), and Food and Personal Care (47 pts)
  • Workers’ remittances increased 9.35% to $1.81 billion in November 2019 while trade deficit recorded a 14% contraction on a monthly basis
  • The Pakistan Investment Bond (PIB) yields once again fell during the auction in the outgoing week
  • The Pakistan Automotive Manufacturers Association (Pama) reported a 44% fall in sales of motor vehicles in November 2019 on a year-on-year basis
  • Pakistan offered Moscow to participate in the divestment of government’s shareholding in the country’s largest state-run oil and gas explorers – Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) – and become a strategic partner by acquiring shares
  • Average volumes declined 41% week-on-week to an average of 276 million shares per day. Meanwhile, average value traded fell 36% week-on-week to clock-in at $67 million
  • Foreigners turned sellers this week as they offloaded $9.1 million worth of shares compared to a net buying of $1.1 million last week. Selling was witnessed in exploration and production sector ($5.4 million) and commercial banks ($3.5 million). On the domestic front, major buying was reported by individuals ($7.4 million) and mutual funds ($7.6 million)
  • Remittances jumped 9.35% in November 2019, State Bank of Pakistan sold Rs137.6 billion worth of PIBs, and reserves held by the central bank jumped $121 million to $9.23 billion
  • The sale of passenger cars during the month of November 2019 stood at 8,524 units against the production of 6,744 units, a monthly report by Pakistan Automotive Manufacturer's Association (PAMA) revealed on Tuesday. This translated into a decline of 10.92 percent on a monthly basis and 44.4 percent on a yearly basis
  • The State Bank of Pakistan received USD 1.3 Billion, special policy-based loans for macroeconomic stability, energy sector and financial sector reforms from the Asian Development Bank
  • Savings mobilization by the National Savings Schemes (NSS) during July-Oct 2019 clocked in at Rs 80.97 billion, 19% higher than the amount of savings mobilized in July- Oct 2018
  • Swiss parliament approve exchange of bank data with Pakistan amid other countries from 2021

Following are few BUY recommendations:

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.00
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 380.44
Target Price: PKR 402.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 78.99
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 46.88
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.94
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 74.47
Target Price: PKR 83.8

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 36.73
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 27.01
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 22.33
Target Price: PKR 31.34

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 105.29
Target Price: PKR 116.45

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 96.00
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 14.33
Target Price: PKR 25

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 37.00
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY
Current Price: PKR 90.88
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,198.27
Target Price: PKR 1,452.06

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 31.99
Target Price: PKR 41.93

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 14.64
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 424.52
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,328.36
Target Price: PKR 1,366.0

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 90.61
Target Price: PKR 115.80

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 676.05
Target Price: PKR 811.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 44.63
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 40.42
Target Price: PKR 45.1

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 19.49
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 108.38
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 30.03
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 135.19
Target Price: PKR 190

Pakistan Oil Fields (POL) – BUY 
Current Price: PKR 440.67
Target Price: PKR 469.2

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 130.64
Target Price: PKR 186.7

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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