Pakistan Stock Exchange (PSX) Weekly Analysis 7 September, 2020

BUY recommendations are:  ACPL, APL, BAFL, BOP, EFERT, ENGRO, FATIMA, FFBL, FFC, FML, GATM, HBL, HMB, HUBCO, ICI, KAPCO, KOHC, LUCK, LOTCHEM, MCB, MEBL, NBP, NCL, NCPL, NML, NPL, OGDC, POL, PPL, PSO, and UBL.


Top gainers of last week were:  SYS, HASCOL, COLG, MLCF, and MARI.


The Pakistan Stock Exchange (PSX) market index Bulls dominate as PSX shoots past 42,000. KSE-100 index closed on 42,023 by gaining 967 points or 2.4%. 


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


  • The bullish rally continued to grip the stock market on Tuesday as the inflation rate eased to 8.2% in August - the lowest in three months - and helped the index surpass the 41,300-mark
  • The rally became stronger as the Pakistan Stock Exchange (PSX) once again won the title of being the best Asian stock market and became the fourth best-performing market across the world in 2020
  • Pakistan’s stock market (has become) the best performer in Asia and the fourth best-performing stock market in the world
  • Average volumes shot up by a massive 70% to settle at 745 million shares, while average value traded jumped 37% to clock-in at $139 million
  • In terms of sectors, positive contributions came from cement (up 194 points), oil and gas marketing companies (114 points), fertiliser (103 points), chemical (83 points) and textile composite (82 points)
  • Negative contributions came from automobile assembler (down 23 points) and power generation & distribution (13 points)
  • Foreign selling continued this week clocking-in at $10 million compared to a net sell of $0.8 million last week. Selling was witnessed in commercial banks ($5.2 million) and cement ($2.6 million)
  • On the domestic front, major buying was reported by individuals ($15.4 million) and mutual funds ($8.6 million)
  • ECC approved hike in K-Electric tariff
  • Prices of petroleum products remained unchanged
  • Finalisation of Pakistan Steel Mill privatisation plan
  • Allowing hiring of financial advisers for Pakistan Petroleum’s divestment and forex reserves held by the central bank stood at $12.7 billion
  • Oil sales in August witnessed a jump of 21pc
  • Prime Minister Imran Khan has cooled down industrialists regarding the boiling issue of gas infrastructure development cess (GIDC) by assuring them ‘he is working to resolve the issue.’
  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.80% during the week ended Sep 03, 2020 while the SPI increased by 9.47% compared to the corresponding period from last year


Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 165.49

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 359.92

Target Price: PKR 378.8


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 35.81

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.99

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 66.20

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 301.53

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 28.51

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 21.21

Target Price: PKR 24.4


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 108.80

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 106.45

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 40.56

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 133.32

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 35.01

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 82.07

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 753.57

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 30.93

Target Price: PKR 46.8


Kohat Cement Company (KOHC) – BUY 

Current Price: PKR 180.37

Target Price: PKR 174.9


Lucky Cement (LUCK) – BUY 

Current Price: PKR 614.44

Target Price: PKR 635.85


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 13.90

Target Price: PKR 14.1


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   172.61

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   90.87

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 40.09

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 41.88

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 14.92

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 110.06

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 23.90

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 113.25

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 427.87

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 101.18

Target Price: PKR 118.3


Pakistan State Oil (PSO) – BUY 

Current Price: PKR 195.17

Target Price: PKR 214.62


United Bank Limited (UBL) – BUY 

Current Price: PKR 125.40

Target Price: PKR 128.7


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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