Pakistan Stock Exchange (PSX) Weekly Analysis 4 May, 2020

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

Top gainers of last week were:  HUBC, OGDC, PPL, POL, ISL, NATF, NML, KHOC, and FFC.

Top losers of last week were: IDYM, SCBPL, BAFL, HMM, and PMPK.

Volume leaders of last week were: MLCF, HASCOL, UNITY, PAEL, and DGKC.

The Pakistan Stock Exchange (PSX) market index remained bullish in the outgoing four-session week. The benchmark KSE-100 Index closed at 34,112 levels by gaining 1306 points or 3.98 per cent. While KSE-30 index closed on 15,082 by gaining 660 points or 4.57 percent.

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


  • Government deciding to extend lockdown till the middle of Ramazan while cautioning the nation that the anti-virus fight had entered a decisive phase
  • Sentiment at the local bourse showed signs of improvement in the week as investors remained undeterred by the economic gloom caused by the pandemic, which was reflected in broadly weak corporate earnings
  • Government slashing profit rates on all savings schemes and accounts of the Central Directorate of National Savings (CDNS) where profit rate on Defence Savings Certificates has been reduced by 2ppts to 8.54%
  • The bullish trend in global oil prices and expectations of a lower inflation reading for April also fuelled optimism in the domestic equity market
  • Economic Coordination Committee (ECC) approving a support package of over PkR50bn for small and medium enterprises (SMEs)
  • The federal government on Thursday announced to reduce the prices of petrol by Rs15 per litre for the month of May 2020 to provide relief to the consumers
  • Global oil prices strengthened more than 49% in four days and crude futures traded between $11.88 and $17.80 per barrel. Traders expected oil prices to stabilise due to a reduction of 9.7 million barrels per day in output announced by OPEC+ members from May this year
  • In addition to the International Monetary Fund’s (IMF) Rapid Financing Instrument worth $1.4 billion, the Asian Development Bank (ADB) also announced $1.7 billion to help Pakistan deal with the pandemic, which helped jack up confidence in the market
  • Participation slowed during the week, with average volumes dipping 32% to settle at 179 million shares while average traded value decreased 32% to $49 million
  • In terms of sectors, positive contribution came from oil and gas exploration companies (396 points), power generation and distribution firms (201 points), fertiliser producers (158 points), cement companies (126 points) and oil and gas marketing companies (78 points)
  • Foreign stock offloading during the week came in at $11.6 million compared to net selling of $2.5 million last week. Selling was witnessed in oil and gas exploration and production firms ($7.7 million), fertiliser producers and banks ($1.5 million each)
  • On the domestic front, mutual funds accumulated stocks worth $4.2 million while companies bought $3.6 million worth of stocks
  • The finance ministry indicating an allocation of PkR600bn for the PSDP for the next budget


Following are few BUY recommendations:

Allied Bank Ltd. (ABL) – BUY 
Current Price: PKR 80.02
Target Price: PKR 88.90

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 133.24
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 14.14
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 255.96
Target Price: PKR 394.40

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 35.56
Target Price: PKR 49.00

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 57.53
Target Price: PKR  65.00

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 30.13
Target Price: PKR  48.9

Bank of Punjab (BOP) – BUY 
Current Price: PKR 8.95
Target Price: PKR 13.90

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 86.65
Target Price: PKR 106.85

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 61.66
Target Price: PKR 73.0

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 307.74
Target Price: PKR 331.10

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 23.79
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 16.48
Target Price: PKR 24.4

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 111.79
Target Price: PKR 130.0

Feroze 1888 Mills Ltd. (FML) – BUY 
Current Price: PKR 79.38
Target Price: PKR 133.9

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 100.67
Target Price: PKR 154.40

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 28.01
Target Price: PKR 45.70

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 84.21
Target Price: PKR 101.05

ICI Pakistan Limited (ICI) – BUY 
Current Price: PKR 673.27
Target Price: PKR 769.0

Interloop Limited (ILP) – BUY 
Current Price: PKR 39.83
Target Price: PKR 67.7

Indus Motors (INDU) – BUY 
Current Price: PKR 970.95
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 23.04
Target Price: PKR 46.8

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 9.81
Target Price: PKR 23.0

Lucky Cement (LUCK) – BUY 
Current Price: PKR 470.44
Target Price: PKR 555.32

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,169.90
Target Price: PKR 1,501.8

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   163.67
Target Price: PKR 185.40

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 65.62
Target Price: PKR 124.60

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 28.18
Target Price: PKR 38.27

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 699.88
Target Price: PKR 756.5

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 28.35
Target Price: PKR 45.60

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 32.88
Target Price: PKR 47.5

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 13.12
Target Price: PKR 32.1

Nishat Mills (NML) – BUY 
Current Price: PKR 76.88
Target Price: PKR 134.8

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 20.05
Target Price: PKR 37.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 105.36
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 317.72
Target Price: PKR 379.00

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 91.33
Target Price: PKR 171.9

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 164.65
Target Price: PKR 216.60

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 154.42
Target Price: PKR 203.50

United Bank Limited (UBL) – BUY 
Current Price: PKR 107.03
Target Price: PKR 167.20

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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