Pakistan Stock Exchange (PSX) Weekly Analysis 31 May, 2020

BUY recommendations are:  ABL, APL, ASTL, BAHL, BAFL, BOP, DGKC, ENGRO, FATIMA, FFBL, FFC, GATM, HBL, HMB, HUBCO, INDU, KAPCO, LUCK, MCB, MEBL, MLCF, NBP, NCL, NML, OGDC, POL, PPL, PSO, and UBL.

Top gainers of last week were: TRG, OGDC, SEARL, SYS and LUCK.

Top losers of last week were: ENGRO, NESTLE, MCB, EFERT, and UBL.

The Pakistan Stock Exchange (PSX) market index witnessed a rather dull week as the bourse remained closed for three out of the five trading sessions on account of the long Eid holidays. The benchmark KSE-100 Index closed at 33,931 levels by increasing 94 points.

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


  • The new petrol price is set at Rs74.52 per liter by decreeing Rs. 7 per liter
  • An expected Rs216-billion subsidy for the power sector in the federal budget for FY21 pushed stocks up
  • Rupee instability against the dollar coupled with pre-budget uncertainty dented investor interest
  • Participation remained slow as average volumes ticked up 4% week-on-week to settle at 214 million shares while average value traded jumped 13% to clock-in at $54 million
  • In terms of sectors, positive contributions came from technology & communication (up 46 points), cement (43 points), and pharmaceuticals (39 points). On the other hand, negative contributions from fertilisers (down 43 points), and commercial banks (39 points) dragged the index lower
  • Foreign offloading during the week arrived at $2.42 million compared to a net sell of $8.77 million last week. Selling was witnessed in fertiliser ($2.54 million), textile composite ($1.81 million) and banks ($1.01 million)
  • On the domestic front, individual accumulated stocks worth $3.93 million, while buying by Broker Proprietary Trading arrived at $0.62 million
  • Ogra asked to keep room for higher levy in oil prices
  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.13% during the week ended May 28, 2020 while the SPI increased by 9.63% compared to the corresponding period from last year
  • Pakistan's Forex Reserves decreased by USD 20.40 Million or 0.11% and the total liquid foreign reserves held by the country stood at USD 18,597.90 Million on May 21, 2020
  • Petroleum, Agriculture Products & Chemicals, Machinery, and Food are the commodities that Pakistan imported heavily during Jul-Apr FY20 as they accounted for 23%, 16%, 14%, and 11% of the total import respectively
  • SEARL company informed that it has been entered into an exclusive licensing & marketing agreement with Beximco Pharmaceuticals for Remdesivir

Following are few BUY recommendations:

Allied Bank Ltd. (ABL) – BUY 
Current Price: PKR 73.02
Target Price: PKR 88.90

Attock Petroleum (APL) – BUY 
Current Price: PKR 270.07
Target Price: PKR 394.40

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 34.77
Target Price: PKR 49.00

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 51.51
Target Price: PKR  65.00

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 28.79
Target Price: PKR  38.0

Bank of Punjab (BOP) – BUY 
Current Price: PKR 8.69
Target Price: PKR 13.90

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 82.57
Target Price: PKR 106.85

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 291.66
Target Price: PKR 331.10

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 28.72
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 17.64
Target Price: PKR 24.4

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 109.52
Target Price: PKR 130.0

Gul Ahmad Textile Limited (GATM) – BUY 
Current Price: PKR 27.50
Target Price: PKR 47.48

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 96.32
Target Price: PKR 154.40

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 28.99
Target Price: PKR 45.70

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 78.16
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 974.10
Target Price: PKR 1,259

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 23.54
Target Price: PKR 31.22

Lucky Cement (LUCK) – BUY 
Current Price: PKR 460.33
Target Price: PKR 555.32

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   146.61
Target Price: PKR 185.40

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR   61.19
Target Price: PKR 124.60

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR   25.93
Target Price: PKR 38.27

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 26.64
Target Price: PKR 45.60

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 32.07
Target Price: PKR 47.5

Nishat Mills (NML) – BUY 
Current Price: PKR 74.35
Target Price: PKR 134.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 114.60
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 317.02
Target Price: PKR 379.00

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 93.74
Target Price: PKR 143.40

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 158.36
Target Price: PKR 203.50

United Bank Limited (UBL) – BUY 
Current Price: PKR 96.03
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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