Pakistan Stock Exchange (PSX) Weekly Analysis 20 July, 2020

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

Top gainers of last week were: LUCK, POL, INDU, AGIL, THALL, EPCL, PSMC, DAWH, PPL, and INDU.

Top losers of last week were: BAFL, NBP, JDWS, PTC, HASCOL, SCBPL, JLICL, ABOT, SYS, and COLG.

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

The Pakistan Stock Exchange (PSX) market index, Bulls continued to command the stock market in the outgoing week. The benchmark KSE-100 Index closed at 37,331 levels by gaining 1,140 points or 3.15%. While KSE-30 index closed on 16,148 by gaining 454 points or 2.89 %.

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


  • The prime minister’s initiative to boost the housing market, including 5% bank lending portfolio, sparked buying interest in cement, steel and banking stocks
  • The improving foreign exchange reserves and record high remittances from overseas Pakistanis also acted as a catalyst in the positive close of the bourse. Remittances hit historic high of $23.1 billion
  • Receipt of workers’ remittances exceeded expectations by a staggering 51% to a record high of $2.47 billion in June 2020 compared to $1.64 billion in June 2019
  • News of oil discovery in Khyber-Pakhtunkhwa (K-P) boosted sentiments at the bourse
  • The Oil and Gas Regulatory Authority (Ogra) had approved increase in re-gasified liquefied natural gas (RLNG) prices by 35% for Sui Northern Gas Pipelines Limited (SNGPL) and by 40% for Sui Southern Gas Company also added to the pressure
  • State Bank of Pakistan imposing heavy fines worth PkR1.7bn on 15 commercial banks for violating the foreign exchange law, particularly anti-money laundering and terror financing acts
  • The prime minister inaugurated construction works at Diamer-Bhasha Dam that will increase demand for cement and steel
  • An upsurge in international crude prices, helped lift the benchmark index above 37,000 points
  • Average daily volumes and traded value for the outgoing week were up by 22% and 34% to 426 million shares and $99.3 million, respectively
  • Contribution to the upside was led by cements (213 points), oil and gas exploration companies (196 points), fertiliser (149 points), automobile assembler (91 points), and commercial banks (55 points)
  • Foreigners offloaded stocks worth of $27.37 million compared to a net sell of $9.46 million last week. Major selling was witnessed in E&P ($20.40 million) and fertiliser ($2.61 million)
  • On the local front, buying was reported by individuals ($15.93 million) followed by insurance companies ($14.29 million)
  • Habib Bank Limited (HBL) won Asia's best bank transformation accolade in this year's Euromoney Awards for Excellence
  • Pakistan Petroleum Limited announced the discovery of hydrocarbon in the exploratory well, Mamikhel South 1, in the TAL Block, which is situated in KPK
  • K-Electric submitted Power Acquisition Request (PAR) to NEPRA for the power purchase from Lucky Cement Limited (LCL). The power supply to be received from LCL shall be distributed to the DHA City Karachi (DHCK)


Following are few BUY recommendations:

Allied Bank Ltd. (ABL) – BUY 
Current Price: PKR 76.70
Target Price: PKR 88.90

Attock Petroleum (APL) – BUY 
Current Price: PKR 317.62
Target Price: PKR 394.40

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 42.78
Target Price: PKR 49.00

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 55.25
Target Price: PKR  65.00

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 35.42
Target Price: PKR  38.0

Bank of Punjab (BOP) – BUY 
Current Price: PKR 9.31
Target Price: PKR 13.90

ENGRO Corporation (ENGRO) – BUY 
Current Price: PKR 307.53
Target Price: PKR 331.10

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 28.96
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 17.72
Target Price: PKR 24.4

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 111.60
Target Price: PKR 130.0

Gul Ahmad Textile Limited (GATM) – BUY 
Current Price: PKR 32.60
Target Price: PKR 47.48

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 108.29
Target Price: PKR 154.40

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 31.50
Target Price: PKR 45.70

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 74.43
Target Price: PKR 101.05

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 20.78
Target Price: PKR 31.22

Lucky Cement (LUCK) – BUY 
Current Price: PKR 525.84
Target Price: PKR 635.85

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   164.82
Target Price: PKR 211.00

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR   75.47
Target Price: PKR 124.60

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR   32.37
Target Price: PKR 38.27

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 29.51
Target Price: PKR 45.60

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 35.43
Target Price: PKR 47.5

Nishat Mills (NML) – BUY 
Current Price: PKR 87.11
Target Price: PKR 134.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 115.82
Target Price: PKR 190

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 99.75
Target Price: PKR 143.40

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 170.61
Target Price: PKR 203.50

United Bank Limited (UBL) – BUY 
Current Price: PKR 111.83
Target Price: PKR 167.20

Thank you very much for reading this article.

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Written by: Rana Khuram

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