Pakistan Stock Exchange (PSX) Weekly Analysis 14 September, 2020

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


Top gainers of last week were:  BYCO, UBL, ENGRO, HUBCO, HASCOL, HBL, JLICL, KOHC, SYS, and NATF.


Top losers of last week were:  PPL, LUCK, Nestle, EFERT, OGDC, IDYM, PIOC, MEBL, COLG, and MLCF.


Top Volume Leaders of last week were: PIBTL, HASCOL, PTC, POWER, and KEL. 


The Pakistan Stock Exchange (PSX) market index was supported by prominent performance of heavy-weights banks and Cements. KSE-100 index closed on 42,531 by gaining 508 points or 1.21 %. While KSE-30 index closed on 18,071 by gaining 152 points or 0.85 %. 


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


  • E&P sector found its place on the other end of the spectrum (down 2.5%WoW) as international oil price trended downwards (down 6.0%WoW) with Saudi Arabia planning to sell at lower rates in Oct 2020
  • Cabinet ratifying CCoP’s decision to offload 7% and 10% shares of OGDC and PPL respectively, only to be partially resurrected by large gas discovery in Kalat (over 1tcf) by Pakistan Petroleum Limited (PPL)
  • Unimpressive financial results in the cement and exploration and production sectors dragged them down while a drop in global crude oil prices triggered sell-off in oil sector stocks
  • Average traded value stood at PkR30.2bn in the outgoing week, similar to previous week
  • Amongst other sectors, Refineries were +15.8%WoW followed by Insurance (+6.3%WoW) and Techs (+6.0%WoW) while Vanaspati, Chemicals and Auto parts manufacturers lost 2.9%, 2.8% and 2.7% respectively
  • Progress on FATF with NA and Senate taking up more bills
  • Various developments relating to addressing power sector structural issues
  • IMF asking Pakistan to increase gas, electricity prices
  • Foreign investors offloaded stocks worth $4.40 million compared to a net sale of $10.03m the previous week. Major outflow was witnessed in exploration and production of $1.15m and fertiliser $1.01m
  • On the local front, buying was reported by individuals of shares valued at $22.84m, followed by mutual funds $8.50m
  • Increase in State Bank of Pakistan’s foreign exchange reserves by $95m to $12.81bn
  • KIA Lucky Motors announced operation of its plant on double shift starting January 2021 to keep up with the rising demand for Sportage and Picanto

Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 175.27

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 352.34

Target Price: PKR 378.8


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 36.25

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 10.06

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 62.08

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 312.23

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 31.51

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 20.48

Target Price: PKR 24.4


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 109.50

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 106.51

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 39.48

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 135.70

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 35.57

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 85.23

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 734.86

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 30.55

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 13.49

Target Price: PKR 14.1


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   178.15

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   85.09

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 41.23

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 40.94

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 15.00

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 107.50

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 23.12

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 109.40

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 423.30

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 100.44

Target Price: PKR 118.3


Pakistan State Oil (PSO) – BUY 

Current Price: PKR 203.47

Target Price: PKR 214.62


United Bank Limited (UBL) – BUY 

Current Price: PKR 129.29

Target Price: PKR 138.68


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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