Pakistan Stock Exchange (PSX) Weekly Analysis 9 November, 2020

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


Top gainers of last week were: POL, TRG, MEBL, BAFL, LOTCHEM, FFBL, and HMB.


Top losers of last week were: HBL, FFC, PTC, MUREB, APL, ANL, PAKT, GATI, and APL. 


Top volume leaders of last week were: UNITY, HASCOL, POWER, PRL, and TRG. 


The Pakistan Stock Exchange (PSX) market index recovered in the outgoing week with the bulls chasing bears out of the market. KSE-100 index closed on 40,732 by gaining 844 points or 2.11 %, while KSE-30 index closed on 17,082 by gaining 332 points or 1.98%.


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


  • Trading kicked off on a negative note on Monday as fears over outcome of the second wave of the Covid pandemic dented sentiments and uncertainty stemming from the US presidential elections
  • Expectations of another round of restrictions and lockdowns kept investors wary
  • The Consumer Price Index (CPI) clocked-in at 8.91% for October 2020, which was far below market expectations
  • Recovery in international equity markets and global oil prices also helped snap a four-session losing streak
  • Monthly cement sales touched a record high in October 2020 as mills dispatched 5.735 million tons to consumers
  • While the sales of petroleum oil products in Pakistan hit two-year high level of 1.7 million tons in October
  • The government’s efforts to resolve the circular debt issue - which has soared past Rs2,300 billion - also helped the index remain in the green zone
  • Participation crawled down as average volumes arrived at 368 million shares (down 21% week-on-week) while average value traded settled at $79 million (down 20% week-on-week)
  • Positive contributions came from commercial banks (203 points), oil and gas exploration companies (149 points), technology and communication (97 points), cement (74 points), and fertiliser (57 points)
  • Foreign selling continued this week clocking-in at $21.34 million compared to a net sell of $5.5 million last week
  • On the domestic front, major buying was reported by individuals ($5.37 million) and insurance companies ($3.63 million)
  • Government reduced prices of petrol, diesel by up to Rs1.57
  • World Bank projected 9% growth in remittances
  • Supreme Court dismissed petitions of GIDC judgment
  • ADB planned to give Pakistan $10 billion in fresh aid to Pakistan


Following are few BUY recommendations:


Attock Cement Ltd. (ACPL) – BUY 

Current Price: PKR 148.16

Target Price: PKR 180.0


Attock Petroleum (APL) – BUY 

Current Price: PKR 315.17

Target Price: PKR 378.8


Amreli Steels Ltd. (ASTL) – BUY 

Current Price: PKR 42.49

Target Price: PKR 56.00


Bank Al-Falah (BAFL) – BUY 

Current Price: PKR 35.26

Target Price: PKR  51.00


Bank of Punjab (BOP) – BUY 

Current Price: PKR 9.07

Target Price: PKR 13.90


Engro Fertilizer (EFERT) – BUY 

Current Price: PKR 65.62

Target Price: PKR 73.0


ENGRO Corporation (ENGRO) – BUY 

Current Price: PKR 304.78

Target Price: PKR 331.10


Fatima Fertilizer (FATIMA) – BUY 

Current Price: PKR 27.65

Target Price: PKR 35.75


Fauji Fertilizer Bin Qasim (FFBL) – BUY 

Current Price: PKR 25.80

Target Price: PKR 30.0


Fauji Fertilizer Company (FFC) – BUY 

Current Price: PKR 104.75

Target Price: PKR 130.0


Feroze1888 Mills Ltd. (FML) – BUY 

Current Price: PKR 105.20

Target Price: PKR 112.4


Gul Ahmed Textile Mills (GATM) – BUY 

Current Price: PKR 34.02

Target Price: PKR 47.8


Habib Bank Limited (HBL) – BUY 

Current Price: PKR 127.83

Target Price: PKR 154.40


Habib Metropolitan Bank (HMB) – BUY 

Current Price: PKR 37.55

Target Price: PKR 45.70


HUB Power Co. (HUBCO) – BUY 

Current Price: PKR 81.66

Target Price: PKR 101.05


ICI Pakistan Ltd. (ICI) – BUY 

Current Price: PKR 679.69

Target Price: PKR 870.0


Indus Motors (INDU) – BUY 

Current Price: PKR 1,220.05

Target Price: PKR 1,375.00


Kot Addu Power Co. (KAPCO) – BUY 

Current Price: PKR 52.80

Target Price: PKR 46.8


Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 

Current Price: PKR 12.83

Target Price: PKR 14.1


Lucky Cement (LUCKY) – BUY 

Current Price: PKR 682.86

Target Price: PKR 761.30


Muslim Commercial Bank (MCB) – BUY 

Current Price: PKR   168.32

Target Price: PKR 211.00


Meezan Bank Limited (MEBL) – BUY 

Current Price: PKR   94.77

Target Price: PKR 100.00


National Bank of Pakistan (NBP) – BUY 

Current Price: PKR 40.45

Target Price: PKR 45.60


Nishat Chunian Limited (NCL) – BUY 

Current Price: PKR 38.02

Target Price: PKR 47.5


Nishat Chunian Power Limited (NCPL) – BUY 

Current Price: PKR 13.42

Target Price: PKR 27.0


Nishat Mills (NML) – BUY 

Current Price: PKR 89.68

Target Price: PKR 134.8


Nishat Power Limited (NPL) – BUY 

Current Price: PKR 22.00

Target Price: PKR 31.1


Oil & Gas Development Co. (OGDC) – BUY 

Current Price: PKR 94.53

Target Price: PKR 156.9


Pakistan Oil Limited (POL) – BUY 

Current Price: PKR 349.17

Target Price: PKR 563.0


Pakistan Petroleum (PPL) – BUY 

Current Price: PKR 84.87

Target Price: PKR 143.40


United Bank Limited (UBL) – BUY 

Current Price: PKR 111.56

Target Price: PKR 138.68


Thank you very much for reading this article.


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Written by: Rana Khuram

1 comment:

  1. You are showing kapco current rate 52.80 rs when this happen :p

    ReplyDelete