Pakistan Stock Exchange (PSX) Weekly Analysis 29 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:  PIOC, ASTL, ENGRO, HUBC, OGDC, UBL, and PSO.

Top losers of last week were:  PSMC, APL, FFBL, CHCC, and BOP.

Top Volume Leaders of last week were:  WTL, UNITY, FFL, TRG, and KEL.

The Pakistan Stock Exchange (PSX) market index movement was volatile in week but it ends marginally in green. KSE-100 index closed on 40,849 by gaining 16 points or 0.04 %. While KSE-30 index closed on 18,777 by gaining 121 points or 0.20 %.

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


  • On the external front, matters remained heated with India over multiple incidences of line of control violation from Indian troops
  • The spillover impact of the government’s weak position on the ruling of former president Pervez Musharraf’s treason case fueled bearish sentiments further
  • The negative sentiment of a show down situation between Pakistan’s military and judiciary institutions carried over the weekend
  • PPL’s discovery reversed the market sentiment the following day
  • After revising downward the FBR’s target from PKR5.5tn to PKR5.2tn, Pakistan agreed to take ‘additional measures’ on the eve of presenting the budget review before parliament by end of Feb’20 under the new structural benchmark condition with the IMF
  • The week ended with GoP filing review petition on Supreme Court’s ruling regarding Army chief’s extension
  • Volumes remained dull throughout the week, with average turnover of 230mn shares during the week, down 22.7% WoW
  • US resuming military training for Pakistan to improve ties
  • FATF response to Pakistan progress report received
  • Cost audit of fertilizer industry planned
  • The IMF tranche received in the outgoing week will reflect in data released next week
  • In terms of sectors, positive contributions came from commercial banks (43 points), power generation and distribution (42 points), oil and gas marketing companies (19 points), engineering (15 points) and cement (13 points)
  • Negative contribution came from insurance (31 points), tobacco (31 points), automobile parts and accessories (21 points) and fertilisers (17 points)
  • Foreigners turned net sellers this week clocking-in at $2.9 million compared to a net buying of $3.1 million last week
  • US resuming military training for Pakistan to improve ties
  • FATF response to Pakistan progress report received

Following are few BUY recommendations:

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.62
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 363.94
Target Price: PKR 434.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 77.65
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 46.57
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.46
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 72.32
Target Price: PKR 83.8

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 33.45
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 25.86
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 19.07
Target Price: PKR 31.34

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 101.04
Target Price: PKR 116.45

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

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 13.60
Target Price: PKR 25

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 36.50
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY  
Current Price: PKR 92.00
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,180
Target Price: PKR 1,452.06

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 30.72
Target Price: PKR 41.93

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 13.64
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 420.50
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,324.82
Target Price: PKR 1,366.0

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 96.30
Target Price: PKR 115.80

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 707.48
Target Price: PKR 811.8

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 43.58
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 42.33
Target Price: PKR 45.1

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 18.77
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 105.60
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 26.50
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 143.55
Target Price: PKR 190

Pakistan Oil Fields (POL) – BUY 
Current Price: PKR 453.40
Target Price: PKR 469.2

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 138.21
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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