Pakistan Stock Exchange (PSX) Weekly Analysis 10 March, 2020

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

Top gainers of last week were:  LUCK, DGKC, GWLC, CHCC, PIOC, COLG, KOHC, ASTL, and PAEL.

Top losers of last week were: HBL, UBL, BAFL, NBP, SHEL, BOP, and MEBL.

Top Volume Leaders of last week:  MLCF, FCCL, HASCOL, BOP, UNITY, and PIOC.

The Pakistan Stock Exchange (PSX) market index finished the outgoing week 236 points up to settle at 38,220 points – a figure which does not aptly reflect the volatility that marred the Pakistan Stock Exchange. The benchmark KSE-100 Index closed at 38,220 levels by gaining 236 points or 0.62%. While KSE-30 index closed 17,385 by losing 93 points or 0.53%.


  • According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:
  • Inflation figures eased to 12.4% from 14.6% in the previous month, providing a much-awaited respite for the investors as expectations of a cut in the interest rates rose
  • The falling bond yields and speculations of a rate cut in the central bank’s monetary policy once again fueled a bullish rally at the PSX
  • The situation on the international front was also bleak as the number of people infected with coronavirus across the world surpassed 100,000 as the outbreak reached more countries and the economic damage intensified. Business districts began to empty and stock markets tumbled
  • Brent slid to its biggest daily loss in more than 11 years on Friday after Russia balked at OPEC’s proposed steep production cuts to stabilize prices hit by economic fallout from the coronavirus, and OPEC responded by removing limits on its own production
  • At the PSX, average volumes remained stable at 243 million shares while average value traded was up 35% to clock-in at $65 million
  • Cement sector sales up 33.91pc to 4.489mln tons in February
  • Positive contributions came from cement primarily (up 329 points). The sector outperformed the KSE-100 index by 12%, where news of 34% year-on-year growth in dispatches in February 2020 and rumours of potential price increase greatly benefited sector performance
  • Foreign selling continued this week clocking-in at $16.7 million compared to a net sell of $22.5 million last week. Selling was witnessed in cement ($5.1 million) and E&P ($3.5 million). On the domestic front, major buying was reported by mutual funds ($15.4 million) and companies ($11.1 million)
  • Commercial banks lost 3.8% of their market capitalization, as the investors started pricing the early interest rate cut
  • The US has formally signed historic deal with the Taliban, laying out a timetable for a full troop withdrawal from Afghanistan within 14 months as it seeks an exit from its longest-ever war
  • Latest reported numbers showed 16.35%YoY growth in FBR’s tax revenue collection for 8MFY20 to PkR2.72trn while revenue shortfall widened to PkR484bn
  • The gov’t has reduced the POL product prices by PKR5 per liter for the month of Mar’20, partially passing on the impact of declining oil prices
  • Fauji Fertilizer Company (FFC) - which accounts for ~40% of total country’s urea offtake - reduced its urea price by another PkR75 per bag to PkR1665 per bag
  • Monetary policy announcement will be the most-watched event next week, impacting the market performance
  • Government mulls up to 10pc divestment in OGDCL, PPL


Following are few BUY recommendations:

Allied Bank Ltd. (ABL) – BUY 
Current Price: PKR 88.6
Target Price: PKR 120.7

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 108.8
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.7
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 346.0
Target Price: PKR 433.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 37.13
Target Price: PKR 49.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 73.54
Target Price: PKR  85.30

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 43.5
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.5
Target Price: PKR 15.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 61.8
Target Price: PKR 73.0

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 314.5
Target Price: PKR 383.8

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 25.57
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 17.0
Target Price: PKR 24.4

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 100.9
Target Price: PKR 130.0

Feroze 1888 Mills Ltd. (FML) – BUY 
Current Price: PKR 98.9
Target Price: PKR 133.9

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 149.4
Target Price: PKR 197.9

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 38.50
Target Price: PKR 47.19

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 87.91
Target Price: PKR 101.05

ICI Pakistan Limited (ICI) – BUY 
Current Price: PKR 691.7
Target Price: PKR 769.0

Interloop Limited (ILP) – BUY 
Current Price: PKR 56.4
Target Price: PKR 67.7

Indus Motors (INDU) – BUY 
Current Price: PKR 985.94
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 22.8
Target Price: PKR 46.8

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 12.4
Target Price: PKR 23.0

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,251.1
Target Price: PKR 1,501.8

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   195.9
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 94.40
Target Price: PKR 115.80

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 643.5
Target Price: PKR 756.5

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 34.6
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 39.5
Target Price: PKR 47.5

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 14.7
Target Price: PKR 32.1

Nishat Mills (NML) – BUY 
Current Price: PKR 103.2
Target Price: PKR 134.8

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 23.0
Target Price: PKR 37.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 115.7
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 367.9
Target Price: PKR 489

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 111.9
Target Price: PKR 171.9

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 164.8
Target Price: PKR 262.7

United Bank Limited (UBL) – BUY 
Current Price: PKR 159.4
Target Price: PKR 209.4

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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