Pakistan Stock Exchange (PSX) Weekly Analysis 27 April, 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.

The Pakistan Stock Exchange (PSX) market index struggled to rebound as the Covid-19 pandemic continued to hammer the global economy. The benchmark KSE-100 Index closed at 32,806 levels by losing 25 points or 0.08 per cent.

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


  • Wild fluctuations in global crude prices kept the bourse under pressure
  • The relative stability in the exchange rate and debt relief from the International Monetary Fund (IMF) lent some support to the index
  • Pakistan received an emergency loan of $1.39 billion from the IMF to cope with the coronavirus pandemic, which pushed the country’s foreign currency reserves to a one-month high above $12 billion
  • The index notched up smart gains on continued buying interest as investors continued to cheer the central bank’s surprise rate cut of 200 basis points
  • In an unprecedented occurrence, the US benchmark West Texas Intermediate (WTI) crashed to close in New York at minus $37.63 per barrel on Monday amid a perfect storm of low demand, an output glut and a lack of storage
  • Investors pared earlier gains as banks felt the heat of compression in net interest margins while oil scrips tanked with international oil prices
  • Initially leveraged stocks gained traction (cements and steel; amid rate cut and news of potential price hikes) but market participants resorted to profit-taking by week-end as results disappointed
  • Announcement of quarterly corporate results in cement, automobile and fertiliser sectors prevented investors from accumulating stocks with selling pressure weighing on sentiment
  • Participation picked up as average volumes jumped 46% to settle at 261 million shares, while average value traded increased 88% to clock-in at $71 million
  • Sector-wise, negative contributions came from oil and gas exploration companies (down 49 points), power generation and distribution (44 points), nd commercial banks (44 points)
  • Positive contributions were led by cement (128 points), fertiliser (64 points), and automobile assemblers (34 points)

Following are few BUY recommendations:

Allied Bank Ltd. (ABL) – BUY 
Current Price: PKR 79.67
Target Price: PKR 120.7

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 130.51
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 14.22
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 241.10
Target Price: PKR 433.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 33.22
Target Price: PKR 49.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 58.36
Target Price: PKR  85.30

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 32.50
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 8.56
Target Price: PKR 15.8

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 59.58
Target Price: PKR 73.0

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 300.23
Target Price: PKR 331.10

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 23.21
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 16.01
Target Price: PKR 24.4

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 106.66
Target Price: PKR 130.0

Feroze 1888 Mills Ltd. (FML) – BUY 
Current Price: PKR 74.95
Target Price: PKR 133.9

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 102.19
Target Price: PKR 197.9

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 28.00
Target Price: PKR 47.19

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 75.00
Target Price: PKR 101.05

ICI Pakistan Limited (ICI) – BUY 
Current Price: PKR 674.83
Target Price: PKR 769.0

Interloop Limited (ILP) – BUY 
Current Price: PKR 39.23
Target Price: PKR 67.7

Indus Motors (INDU) – BUY 
Current Price: PKR 899.24
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 23.21
Target Price: PKR 46.8

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 9.61
Target Price: PKR 23.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 456.06
Target Price: PKR 555.32

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,099.46
Target Price: PKR 1,501.8

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   158.10
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 64.19
Target Price: PKR 115.80

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 645.97
Target Price: PKR 756.5

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 28.07
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 30.69
Target Price: PKR 47.5

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 12.81
Target Price: PKR 32.1

Nishat Mills (NML) – BUY 
Current Price: PKR 68.80
Target Price: PKR 134.8

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 20.63
Target Price: PKR 37.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 95.27
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 285.64
Target Price: PKR 489

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 83.43
Target Price: PKR 171.9

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 153.08
Target Price: PKR 216.60

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 143.94
Target Price: PKR 262.7

United Bank Limited (UBL) – BUY 
Current Price: PKR 107.06
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

No comments:

Post a Comment