Pakistan Stock Exchange (PSX) Weekly Analysis 24 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, PSMC, PSO, and UBL.

Top gainers of last week were:  PTC, and FFBL.

Top losers of last week were: HBL, UBL, LUCK, HUBCO, PIOC, NML, NCL, CHCC, PAEL, MLCF, PSMC, HASCOL and MCB.

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

The Pakistan Stock Exchange (PSX) market index dives 15%, records biggest weekly losts since 2008. The benchmark KSE-100 Index closed at 30,667 levels by losing 5394 points or - 14.96 %. While KSE-30 index closed 13,537 by losing 2480 points or - 15.48 %.

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


  • State Bank of Pakistan (SBP) reducing its policy rate by 75bps to 12.5% while announcing two new measures to provide subsidized credit to industry to help meet challenges posed by the growing pandemic
  • Local investors were discouraged by the State Bank of Pakistan response which decreed minimal cut in its benchmark policy rate by a meagre 75bps against expectations between 100-300bps
  • As the novel COVID-19 has forced an unprecedented shut down of entire nation and no one knows the ultimate impact from such a sudden stoppage of the economy, however, the authorities are taking every possible measure to contain it
  • Pakistani market also became a casualty to the fast spreading coronavirus with confirmed cases rising by the day
  • The blessing in disguise for the country’s economy was the plunge in price in international oil
  • On the economic side, the current account deficit (CAD) shrank by 61pc month-on-month in February
  • Foreigners sold stocks worth $20 million compared to a net sale of $23m the previous week. Their major outflow was witnessed in commercial banks at $6m and cement $5m. On the local front, buying was reported by insurance companies at $23.5m, followed by individuals $19.5m. Average daily volume fell 10pc to 239m shares and mean traded value declined 33pc to $55m
  • Sector-wise contribution to the downside was led by commercial banks, plunging by 1,484 points, cement 729 points, oil and gas exploration companies 537 points, power generation and distribution 424 points and fertiliser 408 points
  • On Sunday, Sindh Chief Minister announced a complete lockdown for at least 2 weeks. Followed by Punjab and all other provinces announced complete lockdown
  • Furthermore, the government on Saturday decided to suspend all international flight operations for two weeks amid fear of Coronavirus spread in the country
  • The overall urea offtake during February 2020, was about 460 thousand tonnes, which increased by 18.6 percent as compared to the same month of last year
  • Oil prices fell heavily at the open in Asia on Monday after a trillion-dollar Senate proposal to help the coronavirus-hit American economy was defeated and death tolls soared across Europe and the US
  • Moody’s Investor Service de-creasing its forecast for Pakistan growth rate to 2.5% for the current fiscal year owing to Covid -19
  • Pakistan’s current account deficit (CAD) shrinking by 71.0% to US$2.84bn during 8MFY20 compared to US$9.82bn in the corresponding period last year

Following are few BUY recommendations:

Allied Bank Ltd. (ABL) – BUY 
Current Price: PKR 77.87
Target Price: PKR 120.7

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 90.61
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 14.69
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 258.25
Target Price: PKR 433.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 26.81
Target Price: PKR 49.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 59.02
Target Price: PKR  85.30

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 34.55
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 8.01
Target Price: PKR 15.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 56.31
Target Price: PKR 73.0

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 277.03
Target Price: PKR 331.10

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 21.91
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 13.03
Target Price: PKR 24.4

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 89.41
Target Price: PKR 130.0

Feroze 1888 Mills Ltd. (FML) – BUY 
Current Price: PKR 72.10
Target Price: PKR 133.9

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 115.10
Target Price: PKR 197.9

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 32.13
Target Price: PKR 47.19

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 67.05
Target Price: PKR 101.05

ICI Pakistan Limited (ICI) – BUY 
Current Price: PKR 554.44
Target Price: PKR 769.0

Interloop Limited (ILP) – BUY 
Current Price: PKR 39.42
Target Price: PKR 67.7

Indus Motors (INDU) – BUY 
Current Price: PKR 836.50
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 16.81
Target Price: PKR 46.8

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 9.23
Target Price: PKR 23.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 372.70
Target Price: PKR 555.32

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   990.84
Target Price: PKR 1,501.8

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   152.51
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 64.85
Target Price: PKR 115.80

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 544.00
Target Price: PKR 756.5

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 29.82
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 29.13
Target Price: PKR 47.5

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 10.66
Target Price: PKR 32.1

Nishat Mills (NML) – BUY 
Current Price: PKR 66.03
Target Price: PKR 134.8

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 17.10
Target Price: PKR 37.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 91.81
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 260.94
Target Price: PKR 489

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 81.25
Target Price: PKR 171.9

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 152.67
Target Price: PKR 216.60

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 135.83
Target Price: PKR 262.7

United Bank Limited (UBL) – BUY 
Current Price: PKR 107.97
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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