Pakistan Stock Exchange (PSX) Weekly Analysis 21 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: UNITY, FFBL, OGDC, FFC, POL, MTL, EPCL, SPWL, EPCL, and MTL.


Top losers of last week were: YOUW, JLICL, TRG, PPL, PAKT, KAPCO, HBL FATIMA, KAPCO, and ANL.


Top Volume Leaders of last week were: HASCOL, KEL, PIBTL, UNITY, and FFL. 


The Pakistan Stock Exchange (PSX) market index witnesses range-bound trading as investors remain cautiously optimistic due to the uncertainty with regards to the upcoming AGP-FATF meeting. KSE-100 index closed on 42,505 by losing 26 points or - 0.06%. While KSE-30 index closed on 18,046 by losing 25 points or - 0.14%. 


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


  • The week began on a weak note, with government and opposition parties in a deadlock over passage of bills concerning anti money laundering regulation
  • IMF also pushed for materialization of long due utility tariff hikes, which were put on hold earlier this year due to COVID-19
  • The market breathed a sigh of relief as NA passed an amendment bill to meet certain requirements of the FATF
  • A PkR10/bag increase in cement prices, giving some support to the market in 2nd trading session of the week
  • PkR100-250 per bag increase in DAP prices leading to a modest rally in FFBL
  • Overseas Pakistanis sent $2.1 billion in remittances in August 2020, 24.4% higher than August last year
  • M&A related rumors regarding PTC driving the stock’s performance
  • SHC bars collecting GIDC from two firms (EFERT & FATIMA)
  • Fertilizer firms threaten to hike prices
  • Government keen to explore workable GIDC options
  • Remittances up 31pc in July-August
  • Large scale manufacturing rebounds by 5.02pc in July
  • Foreign investment jumps 24pc in August
  • Reko Diq dispute: World Bank panel grants stay on enforcement of award
  • An improvement in the large-scale manufacturing readings, which jumped 5% year-on-year in July after five successive months of deceleration
  • Average volumes settled at 537 million shares (down 28% week-on-week). While average traded value clocked-in at $93 million (depicting a decline of 35% week-on-week)
  • Sectors such as food and personal care (up 2.7% week-on-week) and engineering (2.3%) outperformed the benchmark index
  • Negative contributions came from insurance (down 47 points), commercial banks (38 points), power generation and distribution (37 points), tobacco (28 points), and textile (25 points)
  • Asian Development Bank revised down Pakistan's FY21 growth forecast to 2%
  • International oil prices cast a gloomy spell on the energy shares early in the week
  • The key upcoming event of the SBP Monetary Policy and its date of announcement kept investors cautious although various polls undertaken by brokerage houses overwhelmingly produced a “no change” in the interest rate vote
  • The All Parties Conference to be held by the opposition against the government on Monday would also be closely watched

Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 167.27

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 354.16

Target Price: PKR 378.8


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 35.92

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.85

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 60.85

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 306.53

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 29.21

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 23.03

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 111.66

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 100.30

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 39.01

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 134.22

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 35.50

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 84.57

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 741.63

Target Price: PKR 870.0


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 28.10

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 13.36

Target Price: PKR 14.1


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   178.84

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   84.80

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 41.02

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 40.58

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 14.89

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 106.07

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 23.01

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 112.35

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 433.95

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 98.71

Target Price: PKR 143.40


Pakistan State Oil (PSO) – BUY 

Current Price: PKR 207.22

Target Price: PKR 214.62


United Bank Limited (UBL) – BUY 

Current Price: PKR 128.93

Target Price: PKR 138.68


Thank you very much for reading this article.


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Written by: Rana Khuram

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