Pakistan Stock Exchange (PSX) Weekly Analysis 25 Sep, 2016

BUY recommendations are ABL, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, HBL, KEL, KOHC, LUCK, MCB, MLCF, OGDC, PAEL, PIOC, PPL, PSMC, PSO, PTC, TGL and UBL.

Top gainers of last week were: Associated Services Limited, Honda Atlas Cars, Millat Tractors, International Steels Ltd, Orix Leasing, Pak Tobacco Co, Lucky Cement, Jubilee Life Ins, Colgate Palmolive and The Searle Pak.

Top losers of last week were: Hum Network Ltd, TRG Pakistan Ltd, Muree Brewery Co Ltd, Ghani Glass Ltd, Jah.Sidd. Co., Ferozsons (Lab), B.O.Punjab, Dawood Hercules Chem, Engro Corp and Fauji Fertilizer Co.

Top Volume Leaders of last week: BOP, TRG, KEL, JSCL, SSGC, PIBTL, PTC, SNGP, NBP, NCL, and NUMNL.

The Pakistan Stock Exchange (PSX) market index witnessed volatility on concerns regarding domestic politics and jitters from global monetary policies with profit taking deflating the benchmark index by 1.44%WoW to 39,782pts. KSE-100 index has reached on 39,782 by decreasing -582 points or - 1.44 %.While KSE-30 index has reached on 22,108 by decreasing -446 points or -1.98 %.

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


  • SBP have announced its MPS over the weekend; and keeps the discount rate unchanged
  • The market was under dark clouds in the outgoing week as the wider investor community was spooked amid a heated exchange of statements between Indian and Pakistani leadership
  • Foreign selling continued with outflows for the week at US$16.04mn vs. US$4.49mn in the previous five sessions
  • PIB auction yields remained largely stable with GoP raising PkR219bn
  • WB approved US$390mn loan for Tarbela fifth extension project
  • Current account deficit for 2MFY17 clocked in at US$1.3bn, expanding 92%YoY
  • Mergers and acquisition stories remained the key play in most of the low cap names and even some big ticket items like PTC where rumors were rife regarding Etisalat approaching Zong for sale of its equity stake in the company. Shanghai Electric emerged as the key contender for a controlling stake in KEL while MCB’s planned acquisition of NIB also seems to be heading into a conclusive channel
  • Ministry of Industries and Production decided to seek approval of the ECC for further reduction in urea prices in order to offload 1.5mn tons of stock
  • Political risks remain in place with PTI’s protest set for next week likely keeping investors cautious
  • PKR 1mn penalty imposed on Takaful firm: Protection of interest of policyholders obligatory
  • Fertiliser importers are all set to increase the price of di‐ammonium phosphate (DAP) by Rs300 per 50kg bag as the government has not been able to establish a subsidy mechanism and transfer funds to the importers for three months 
  • More than half a million jobs have been lost in the country in two years due to factory closures, a global news agency reported
  • Mari Petroleum Company Limited (MPCL) has borrowed Rs9 billion from Habib Bank Limited in a bid to accelerate the search for untapped oil and gas deposits in the country, particularly in Sindh and Balochistan 
  • FFC, ENGRO and DAWH cumulatively contributed 216pts to index decline as overall fertilizer sector came under pressure, posting 4% negative return, mainly owing to renewed concerns on urea pricing and inventory levels
  • Pharma exports: Drug regulations to be brought at par with world


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 97.3
Target Price: PKR 120

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 187
Target Price: PKR 230

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 62.3
Target Price: PKR 95

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 138.1
Target Price: PKR 163

Engro Corporation (ENGRO) – BUY
Current Price: PKR 286.7
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33.04
Target Price: PKR 48.68

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 35.6
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 52.00
Target Price: PKR 60.48

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 218.4
Target Price: PKR 255

K-Electric (KEL) – BUY
Current Price: PKR 9
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 254.5
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 681.3
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 210.2
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 96.6
Target Price: PKR 123

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 139.4
Target Price: PKR 164

Pak Electron (PAEL) – BUY 
Current Price: PKR 70
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 105.1
Target Price: PKR 136

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 159
Target Price: PKR 193.8

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 514.6
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 408.5
Target Price: PKR 456

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 18.1
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 100.8
Target Price: PKR 136

United Bank Limited (UBL) – BUY 
Current Price: PKR 195.7
Target Price: PKR 235

Thank you very much for reading this article.

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

Written by: Rana Khurram

Pakistan Stock Exchange (PSX) Weekly Analysis 18 Sep, 2016

BUY recommendations are ABL, ASTL, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, HBL, INDU, KEL, KOHC, LUCK, MCB, MLCF, NCPL, NML, OGDC, PAEL, PIOC, PPL, PSMC, PSO, PTC and UBL.

Top gainers of last week were: BOP, FEROZ, SSGC, NATF, ICI.

Top losers of last week were: OGDC, UBL, SCBPL, FML, ASRL.

The Pakistan Stock Exchange (PSX) market index closed to an all-time high during the two-day working week due to Eid holidays, while the next week is likely to show mixed reaction by the investors. The benchmark KSE-100 index saw bearish activity on Thursday that was recovered with a few gains on Friday that resulted in an increase of 0.05 percent, or 23.45 points, during the week to 40,363.68 points against 40,340.23 points last week.

The average traded volume increased by 51 percent to 691 million shares from 457 million shares a day because of investors' interest in small- and mid-cap stocks, while average traded value fell by five percent week-on-week to Rs14 billion.

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


  • During the outgoing week, the market witnessed huge activity in small- and mid-cap stocks that resulted in surge of volumes by more than 60 percent to touch the highest volumes since last 11 years on Friday
  • Foreign Institutional Portfolio Investment (FIPI) recorded an outflow of $5.26 in two days as compared to the outflows of $7.06 million last week
  • Stocks in the oil and gas marketing sector witnessed net buying of $0.9 million during the week; net selling of $1.6$ million was seen in cement stocks
  • Automobile sector was among the top gainers, up 4.4 percent, after the release of auto numbers for August. This was followed by chemicals and pharmaceuticals, which increased 2.4 percent and 1.4 percent, respectively
  • Oil and gas exploration companies and commercial banks were among the losers, as they fell 1.5 percent and 0.8 percent, respectively
  • Pakistan officially became a signatory of the Organization for Economic Cooperation and Development’s (OECD) Multilateral Convention on Mutual Administrative Assistance in Tax Matters aimed at curbing tax evasion
  • Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1.17 percent on a weekly basis on September 9
  • The SBP’s liquid foreign exchange reserves decreased $211 million to $17.8 billion as compared to $18 billion in the previous week
  • Remittances by overseas Pakistani workers have shown an increase of 15.3 percent year-on-year to $1.8 billion in August
  • In a bid to boost Islamic financing in the country, the central bank amended its regulations to exempt Islamic banks from using interest rate-based benchmarks for some of their financing products
  • The National Electric Power Regulatory Authority (Nepra) granted generation licence to China Power Hub Generation Company for their 1,320MW (660x2) coal-fired plant to be setup in Hub
  • On Friday WorldCall Telecom (WTL) led the volumes with over 114mn shares traded with average price of R2.83


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 96
Target Price: PKR 120

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 66.15
Target Price: PKR 84.0

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 188
Target Price: PKR 230

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 65
Target Price: PKR 95

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 142.92
Target Price: PKR 163

Engro Corporation (ENGRO) – BUY
Current Price: PKR 306
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33.04
Target Price: PKR 48.68

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 37.23
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 52.06
Target Price: PKR 60.48

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 225.31
Target Price: PKR 255

K-Electric (KEL) – BUY
Current Price: PKR 9
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 250
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 660
Target Price: PKR 755

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 213
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 98
Target Price: PKR 123

Nishat Chun Power Lmited (NCPL) – BUY 
Current Price: PKR 56.49
Target Price: PKR 60

Nishat Mills Lmited (NML) – BUY 
Current Price: PKR 131
Target Price: PKR 144.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 139
Target Price: PKR 172

Pak Electron (PAEL) – BUY 
Current Price: PKR 73
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 106.75
Target Price: PKR 136

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 160.89
Target Price: PKR 193.8

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 538
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 404
Target Price: PKR 456

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 18
Target Price: PKR 21.9

United Bank Limited (UBL) – BUY 
Current Price: PKR 202
Target Price: PKR 235

Thank you very much for reading this article.

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

Written by: Rana Khurram

Pakistan Stock Exchange (PSX) Weekly Analysis 12 Sep, 2016

BUY recommendations are ABL, ASTL, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, HBL, INDU, KEL, KOHC, LUCK, MCB, MLCF, NCPL, NML, OGDC, PAEL, PIOC, PPL, PSMC, PSO, PTC and UBL.

Top gainers of last week were: Associated Services Limited, TRG Pakistan Ltd, B.O.Punjab, Ghani Glass Ltd, Sui South Gas, Indus Motor, Service Indus, Jah.Sidd. Co., Thal Limited and National Foods.

Top losers of last week were: Saif Power Ltd, EFU Life Assur Ltd., Ibrahim Fibres, Pak Tobacco Co, Kohat Cement, Packages Limited, J.D.W.Sugar, Orix Leasing, Engro Fertilizer and Maple Leaf Cem.

Top volume leaders: TRG, DCL, PACE, BOP and DSFL

The Pakistan Stock Exchange (PSX) market index continued to set new highs closing at 40,340 (+2.22%WoW) primarily led by index heavy weights Banks (+4.0%WoW) on expectations of bottoming out interest rates and E&Ps (+2.2%WoW) on higher international oil prices (WTI: +5.2%WoW).  KSE-100 index has reached on 40,340 by increasing 875 points or 2.22 %.While KSE-30 index has reached on 22,755 by increasing 411 points or 1.84 %.

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


  • Foreign participants preferred to offload their holding during the week as the first four days witnessed an outflow of USD4.7mn, while the tally for the month coming in at a negative USD8.94mn
  • Cement stocks continued paring gains in the earlier half of the week, only to see light of day in the second leg driven by value hunting
  • The automobile sector welcomed the listing of LOADS as it was handsomely oversubscribed and clocked in at a price which was 2.26x higher than its floor value
  • The major gainers during the week included mostly third tier stocks as TRG gained 19.41% in the week, followed by BOP that gathered 13.76%, while other notable names included GHGL (↑13.76%), SSGC (↑10.97%), INDU (↑10.11%) and THALL (↑8.66%) 
  • In a landmark decision, the government, on the recommendations of the Securities and Exchange Commission of Pakistan (SECP), has accorded tax neutrality to sukuk by allowing certain tax exemptions that were earlier available only to conventional securitization issues 
  • Russia, Saudi Arabia agree cooperation on oil price, not freeze
  • Bahrain‐based Al Baraka Banking Group, one of the Gulf´s top Islamic banks, said its Pakistani unit would merge with Pakistan´s Burj Bank to create an institution with assets totalling more than $1.1 billion 
  • Sales of refrigerators, deep freezers increase as Eid nears
  • Dewan Farooque Motors to resume production by Oct
  • World Call to buy back Omantel stake in $47mln deal
  • Pakistan’s electricity generation surges 12pc
  • Minister for Planning Development and Reforms Ahsan Iqbal Wednesday said the government planned to launch 5th generation cellular services soon to ensure faster connectivity 
  • Nepra grants licence to Hubco's coal‐fired power project


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 97.0
Target Price: PKR 120.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 65.3
Target Price: PKR 84.0

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 191.1
Target Price: PKR 230.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 66
Target Price: PKR 95

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 142
Target Price: PKR 163

Engro Corporation (ENGRO) – BUY
Current Price: PKR 303.8
Target Price: PKR 361

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33.0
Target Price: PKR 48.68

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 37.4
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 53
Target Price: PKR 60.48

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 215.9
Target Price: PKR 255

Indus Motors (INDU) – BUY
Current Price: PKR 1156.2
Target Price: PKR 1274,7

K-Electric (KEL) – BUY
Current Price: PKR 8.9
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 261.3
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 656.6
Target Price: PKR 755.0

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 209.6
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 99.8
Target Price: PKR 123.0

Nishat Chun Power Lmited (NCPL) – BUY 
Current Price: PKR 55.9
Target Price: PKR 60

Nishat Mills Lmited (NML) – BUY 
Current Price: PKR 122.3
Target Price: PKR 144.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 143
Target Price: PKR 172.00

Pak Electron (PAEL) – BUY 
Current Price: PKR 72
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 109
Target Price: PKR 136

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 159.7
Target Price: PKR 193.8

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 517.7
Target Price: PKR 661

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 394.1
Target Price: PKR 456

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 17
Target Price: PKR 21.9

United Bank Limited (UBL) – BUY 
Current Price: PKR 200.1
Target Price: PKR 235.0

Thank you very much for reading this article.

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

Written by: Rana Khurram

Pakistan Stock Exchange (PSX) Weekly Analysis 4 Sep, 2016

BUY recommendations are ABL, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, HBL, KEL, KOHC, LUCK, MCB, MLCF, OGDC, PAEL, PIOC, PKGP, PSMC, PSO, PTC, and TGL.

Top gainers of last week were: Muree Brewery Co Ltd, Service Indus, Shell Pakistan, Honda Atlas Cars, Ibrahim Fibres, Thal Limited, Ghani Glass Ltd, Associated Services Limited, Hum Network Ltd and Pak Suzuki Motor.

Top losers of last week were: Ferozsons (Lab), Allied Rental Mod, Indus Dyeing, Pioneer Cement, Maple Leaf Cement, Lucky Cement, Kohat Cement, Cherat Cement, B.O.Punjab and Engro Foods Ltd.

Top ten volume leaders: KEL, TRG, SNGP, BOP, SSGC, PIBTL, NBP, PTC, JSCL, EFOODS and NCL.

The Pakistan Stock Exchange (PSX) market index remained a cliffhanger for markets, coming off of the high water mark of 40K as result announcements were met with a passive reaction from market participants. KSE-100 index has reached on 39,465 by decreasing -462 points or -1.16 %.While KSE-30 index has reached on 22,344 by decreasing -427 points or -1.88 %.

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


  • Average volumes surged by 60% WoW mainly driven by acquisition led stories in KEL and BYCO
  • Foreigners remained net sellers offloaded shares worth USD3.34mn during the outgoing week
  • Pakistani vessel arrested at South African port released
  • Import of RON 92 standard petrol likely to start in November
  • Government raises Rs173bn through T-bills
  • The State Bank of Pakistan (SBP) has announced that it will initiate a survey of Pakistan's Foreign Portfolio Investments Assets in order to meet the international requirements
  • LOADS Limited (LOADS) intends to access the equity markets through an IPO, whereby 50mn shares are on offer making up 40% of the post IPO paid up capital. The shares will be offered in two phases, first through a book building process (35.625mn shares) and later in a general public issue (14.375mn shares)


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 96.0
Target Price: PKR 120.00

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 66.0
Target Price: PKR 83.0

DG Khan Cement (DGKC) – BUY 
Current Price: PKR 192.0
Target Price: PKR 230.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 67.4
Target Price: PKR 95

ENGRO Foods (EFOODS) – BUY 
Current Price: PKR 137.6
Target Price: PKR 163

Engro Corporation (ENGRO) – BUY
Current Price: PKR 305.5
Target Price: PKR 362

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33.2
Target Price: PKR 48.68

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 37.4
Target Price: PKR 47

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 52.59
Target Price: PKR 60.48

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 215.9
Target Price: PKR 255

K-Electric (KEL) – BUY
Current Price: PKR 9.0
Target Price: PKR 13

Kohat Cement (KOHC) – BUY
Current Price: PKR 261.3
Target Price: PKR 353

Lucky Cement (LUCK) – BUY
Current Price: PKR 661.4
Target Price: PKR 755.0

MCB Bank Limited (MCB) – BUY 
Current Price: PKR 209.6
Target Price: PKR 240

Maple Leaf Cement Factory (MLCF) – BUY 
Current Price: PKR 101.9
Target Price: PKR 123.0

Nishat Mills (NML) – BUY 
Current Price: PKR 122.3
Target Price: PKR 140.0

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 137.5
Target Price: PKR 172.00

Pak Electron (PAEL) – BUY 
Current Price: PKR 71.0
Target Price: PKR 83

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 71.0
Target Price: PKR 83

Pak Gen Power (PKGP) – BUY 
Current Price: PKR 25.5
Target Price: PKR 41

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 496.5
Target Price: PKR 532

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 394.1
Target Price: PKR 456

Pakistan Telecommunications (PTC) – BUY 
Current Price: PKR 16.2
Target Price: PKR 21.9

Tariq Glass (TGL) – BUY 
Current Price: PKR 90.5
Target Price: PKR 120

Thank you very much for reading this article.

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

Written by: Rana Khurram