Pakistan Stock Exchange (PSX) Weekly Analysis 21 September, 2020


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, 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.

NOTE: The information posted in this blog /forum ( is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum ( 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 (  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

No comments:

Post a Comment