Pakistan Stock Exchange (PSX) Weekly Analysis 24 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, UBL, APL, KAPCO, PAEL, MLCF, CHCC, OGDC, MCB, and FFC.

Top losers of last week were:  ENGRO, PAKT, NCL, ABL, PPL, and PSO.

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

The Pakistan Stock Exchange (PSX) market index remains stagnant for second week in a row. KSE-100 index closed on 40,249 by gaining 6 points or 0.01 %. While KSE-30 index closed on 18,598 by losing 1 point or 0.00%.

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


  • The pending meeting of the Financial Action Task Force over Pakistan’s fate regarding the grey list cast a gloomy shadow over the market
  • The Paris-based task force announced on Friday that its plenary has decided not to blacklist Pakistan after the country showed progress on majority of the actionable points and demonstrated its serious political commitment to curb terror financing and money laundering
  • The strict stance of the International Monetary Fund (IMF) staff to keep the budgeted revenue targets for FY20 unchanged while talks regarding the release of the third tranche remain ongoing also kept investors nervous
  • Despite increase in international oil prices by 4.5% week-on-week, oil and gas exploration sector remained under pressure due to foreign selling
  • Foreigners offloaded stocks worth $8.57 million compared to a net sell of $11.15 million last week. Major selling was witnessed in oil and gas exploration companies ($3.02 million) and cement ($2.77 million)
  • Buying was reported by insurance companies ($7.84 million) followed by other organizations ($3.81 million)
  • Foreign exchange reserves held by SBP jumped $74 million to $12.5 billion
  • Corporate results coming out during the week were mixed. Textile data was also released where the sector’s exports stagnated recording a minimal growth of 2.3pc. Among other developments, despite increase in international oil prices by 4.5pc, oil and gas exploration sector remained under pressure due to foreign selling of equities on most days
  • Weekly SPI data released by the Pakistan Bureau of Statistics (PBS) showed that Yearly growth in inflation had slowed down from over 20 percent in January to 15.97 percent as of Feb 20, 2020
  • The imports of mobile phones witnessed a significant growth of 141.65% YoY and 22.73 % MoM to stand at $144 million in the month of January 2020
  • FBR began its exercise on how to generate PKR200bn additional taxes, without further stifling the economy
  • December data shows rebound in large-scale manufacturing


Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 92.98
Target Price: PKR 120.7

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 101.65
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.68
Target Price: PKR 26.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 349.27
Target Price: PKR 434.0

Amreli Steel Limited (ASTL) – BUY 
Current Price: PKR 33.51
Target Price: PKR 49.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 79.14
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 48.81
Target Price: PKR  60.3

Bank of Punjab (BOP) – BUY 
Current Price: PKR 13.05
Target Price: PKR 14.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 65.51
Target Price: PKR 83.8

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 25.13
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 18.23
Target Price: PKR 31.34

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 107.01
Target Price: PKR 116.45

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 100.80
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 11.89
Target Price: PKR 25

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 166.29
Target Price: PKR 200.39

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 39.72
Target Price: PKR 47.19

HUB Power Co. (HUBCO) – BUY
Current Price: PKR 98.30
Target Price: PKR 160.83

Interloop Ltd. (ILP) – BUY 
Current Price: PKR 56.57
Target Price: PKR 67.7

Indus Motors (INDU) – BUY 
Current Price: PKR 1,011.67
Target Price: PKR 1,452.06

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 26.78
Target Price: PKR 41.93

Kohat Cement Co. (KOHC) – BUY 
Current Price: PKR 91.26
Target Price: PKR 106.6

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 13.62
Target Price: PKR 20.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 489.99
Target Price: PKR 516.54

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,253.50
Target Price: PKR 1,501.8

Muslim Commercial Bank Limited (MCB) – BUY 
Current Price: PKR 207.05
Target Price: PKR 263.7

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 99.15
Target Price: PKR 115.80

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 43.02
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 42.52
Target Price: PKR 60.53

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.00
Target Price: PKR 29.0

Nishat Mills (NML) – BUY 
Current Price: PKR 105.14
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 131.39
Target Price: PKR 190

Pakistan Oilfields Ltd. (POL) – BUY 
Current Price: PKR 403.11
Target Price: PKR 489.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 128.45
Target Price: PKR 186.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 181.97
Target Price: PKR 250.39

Sui Northern Gas Pipeline Ltd. (SNGP) – BUY 
Current Price: PKR 73.10
Target Price: PKR 111.1

United Bank Limited (UBL) – BUY 
Current Price: PKR 174.22
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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