Pakistan Stock Exchange (PSX) Weekly Analysis 23 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:  PPL, CHCC, OGDC, MEBL, NCL, ENGRO, DAWH, MARI, and LUCK.

Top losers of last week were:  PSO, FFBL, ASTL, FCCL, PAEL, KEL, FFC, MCB, HUBC, and EPCL.

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

The Pakistan Stock Exchange (PSX) market index, the seven week bull-run finally came to an end as the stock market succumbed to the increasing political pressure. KSE-100 index closed on 40,832 by losing -83 points or -0.2%. While KSE-30 index closed on 18,656 by gaining 37 points or 0.20 %.

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


  • The Executive Board of the International Monetary Fund (IMF) completed its first review of Pakistan's economic performance under the Extended Fund Facility (EFF) that allows a disbursement of $452 million
  • Foreigners (including individuals, corporates, and overseas Pakistanis) gained confidence on the local market with a net buy of 3.8 million dollars, wherein overseas Pakistani came on top with three million dollars of net buying during the first four trading sessions of the week
  • Local banks/DFI, mutual funds and other organizations booked their profits with a net sell of 6.2 million dollars, 5.5 million dollars, and 3.8 million dollars respectively worth of equities in the same period
  • Foreigners bought $3.15 million. On the local side, mutual funds were sellers of $8.4 million, while banks were sellers of $6.6 million
  • Prices of crude hovered near the three month high, during the week
  • On Tuesday as the index witnessed sharp swings on the back of news that the Oil and Gas Regulatory Authority (Ogra) had proposed a 214% hike in gas prices
  • The current account deficit dropped a massive 73% to $1.82 billion in the first five months of FY20, State Bank of Pakistan’s (SBP) foreign exchange reserves reached a level of $10.9 billion
  • The senior official said the new rate for Defence Savings Certificate has been increased from 13.01 percent to 10.68 while the rate of Special Saving Certificate from 12.90 to 11.13, Regular Income Certificate from 12.96 to 10.92 percent
  • Pakistan reportedly requesting the Saudi Arabia and the UAE to convert the US$5bn deposits into long term loan
  • CAD balance returning to normalization (US$319mn in Nov’19, down 73%YoY)
  • ECC approving OGDC and PPL to participate in the bidding round for an offshore block in Abu Dhabi

Following are few BUY recommendations:

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.92
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 381.07
Target Price: PKR 434.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 77.50
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 45.94
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.82
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 72.86
Target Price: PKR 83.8

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 32.96
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 26.15
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 19.90
Target Price: PKR 31.34

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 103.09
Target Price: PKR 116.45

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 92.66
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 13.93
Target Price: PKR 25

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 36.06
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY
Current Price: PKR 89.44
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,184.54
Target Price: PKR 1,452.06

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 31.22
Target Price: PKR 41.93

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 14.20
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 417.33
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,338.34
Target Price: PKR 1,366.0

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 94.34
Target Price: PKR 115.80

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 698.35
Target Price: PKR 811.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 44.83
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 42.46
Target Price: PKR 45.1

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 19.43
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 103.77
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 26.51
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 140.81
Target Price: PKR 190

Pakistan Oil Fields (POL) – BUY 
Current Price: PKR 453.52
Target Price: PKR 469.2

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 140.72
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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