Pakistan Stock Exchange (PSX) Weekly Analysis 17 February, 2020

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

Top gainers of last week were:  HBL, HUBCO, LUCK, MLCF, MCB, and PAKT.

Top losers of last week were:  NESTLE, DAWH, FABL, PAEL, GWLC, COLG, and KAPCO.

Top Volume Leaders of last week were:  UNITY, HASCOL, MLCF, BOP, and DGKC.

The Pakistan Stock Exchange (PSX) market index finally snapped the four-week losing streak as bulls inched up slightly amid uncertainty regarding review talks between the International Monetary Fund (IMF) and the government. KSE-100 index closed on 40,243 by gaining 99 points or 0.25 %. While KSE-30 index closed on 18,599 by losing 144 points or 0.78%.

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


  • Concerns over the rising inflation and 12-month T-bill yield coupled with turmoil in global markets (especially because of corona virus) also wreaked havoc during the week
  • Bullish global equities and surging crude prices also lent support to the index
  • Participation remained stable with volumes at 168 million, while average value traded dipped 11% week-on-week clocking-in at $40 million
  • In terms of sectors, positive contribution was led by commercial banks (123 points), cement (63 points), power generation and distribution (55 points), tobacco (24 points) and insurance (-12 points)
  • Foreign selling continued this week and clocked-in at $11.2 million compared to a net selling of $14.2 million
  • OGDC’s announcement of beginning commercial production from Dhok Hussain Gas Field
  • Remittances grew to $13.3 billion in July-January and foreign currency reserves held by the SBP increased $157 million at $12,430.8 million
  • Uncertainty over the Financial Action Task Force (FATF) decision in its review to begin from Feb 16 seized investors’ attention with speculations on whether the country would be able to skip out of the grey list
  • The corporate results unveiled were generally in line with expectations
  • PKR appreciated the 7th successive week against the dollar, gaining 23 paisa which is the largest increase since the week ending Oct 11, 2019 concluded the week at 154.17 per USD
  • A major development was the assurance by Turkish President Tayyip Erdogan on Friday he would help Pakistan stay off a terrorism financing blacklist at a meeting of a global finance watchdog, a move he suggested would counter “political pressure” from Islamabad’s critics
  • The overall output of LSMI decreased by 3.35% for July-December, 2019-20, as compared to July-December, 2018-19
  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.38% during the week ended Feb 13, 2020, while the SPI increased by 16.38% compared to the corresponding period from last year
  • Overseas Pakistanis remitted USD 1.91 billion in the month of January 2020 compared to USD 2.1 billion in December 2019 showing a decrease of USD 189.91 million over the previous month
  • Pakistan's trade deficit shrinking over 28% to USD13.8bn in 7MFY20 due to import compression, as exports showed negative growth for the third consecutive month
  • Prime Minister Imran Khan assuring the export-oriented sectors that there will be no change in tariffs of electricity and gas for next three years
  • Federal cabinet approving a comprehensive package under which PkR10bn subsidy is to be provided in order to make essential items available at subsided rates
  • Pakistan's auto sector continuing to show dismal performance during 7MFY20 with cars sales plunging by 44%YoY, and (v) possibility of The Federal Board of Revenue (FBR) imposing a standard rate of 17% sales tax on certain items subjected to lower rates of sales tax (5, 7.5 and 10 percent)

Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 95.10
Target Price: PKR 120.7

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 99.00
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 20.09
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 330.98
Target Price: PKR 434.0

Amreli Steel Limited (ASTL) – BUY 
Current Price: PKR 33.47
Target Price: PKR 49.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 79.57
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 48.84
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.81
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 66.42
Target Price: PKR 83.8

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 25.07
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 18.14
Target Price: PKR 31.34

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 105.45
Target Price: PKR 116.45

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 97.63
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 11.80
Target Price: PKR 25

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 162.26
Target Price: PKR 200.39

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 39.01
Target Price: PKR 47.19

HUB Power Co. (HUBCO) – BUY
Current Price: PKR 98.93
Target Price: PKR 160.83

Interloop Ltd. (ILP) – BUY 
Current Price: PKR 57.07
Target Price: PKR 67.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,027.00
Target Price: PKR 1,452.06

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 25.50
Target Price: PKR 41.93

Kohat Cement Co. (KOHC) – BUY 
Current Price: PKR 89.09
Target Price: PKR 106.6

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 13.78
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 484.76
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,288.64
Target Price: PKR 1,501.8

Muslim Commercial Bank Limited (MCB) – BUY 
Current Price: PKR 210.19
Target Price: PKR 263.7

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 100.72
Target Price: PKR 115.80

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 42.50
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 44.00
Target Price: PKR 60.53

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.04
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 105.52
Target Price: PKR 125.3

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 25.00
Target Price: PKR 33.3

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 129.54
Target Price: PKR 190

Pakistan Oilfields Ltd. (POL) – BUY 
Current Price: PKR 403.25
Target Price: PKR 489.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 130.88
Target Price: PKR 186.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 188.46
Target Price: PKR 250.39

Sui Northern Gas Pipeline Ltd. (SNGP) – BUY 
Current Price: PKR 74.83
Target Price: PKR 111.1

United Bank Limited (UBL) – BUY 
Current Price: PKR 169.73
Target Price: PKR 204.72

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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