Pakistan Stock Exchange (PSX) Weekly Analysis 30 Sep, 2017

BUY recommendations are:  ABL, ACPL, AICL, APL, ASL, ASTL, BAFL, BAHL, CHCC, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HBL, HASCOL, HCAR, HMB, HTL, HUBC, INDU, ISL, KOHC, LPL, LUCK, MARI, MCB, MEBL, MLCF, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POWER, PPL, PSMC, PSO, PTC, TGL, and UBL.

Top gainers of last week were: FATIMA, CJPL, KEL, FEROZ, MUREB, OLPL, POL, FFC, IDYM and BOP.

Top losers of last week were: NBP, IGIIL, CHCC, FML, CSAP, SNBL, FCCL, JGICL, IBFL and SHFA.

Top Volume Leaders of last week: KEL, BOP, TRG, PIBTL, EFERT, FFC, PAEL, MLCF, SSGC, and DCR.

The Pakistan Stock Exchange (PSX) market index witnessed range-bound trading behavior in the outgoing week with the index moving within a very narrow band. KSE-100 index has closed on 42,409 by losing -341 points or --0.80 % while KSE-30 index has closed on 21,606 by losing -275 points or --1.26 %.

Average trading volumes further declined by 14%WoW to 146mn shares from 171mn shares last week, likely due to religious event of Muharram. Activity was focused in retail favorite stocks, which included K-Electric (KEL: 97mn shares), Bank of Punjab (BOP: 45mn shares), Wateen Telecom (WTL: 32mn shares), The Resource Group (TRG: 31mn shares) and Kohinoor Spinning (KOSM: 27mn shares). In terms of traded value, Attock Refinery (ATRL), Pakistan State Oil (PSO), Pakistan Oilfield (POL), The Resource Group (TRG), and MCB Bank (MCB) remained the leaders with PKR3.2bn, PKR1.69bn, PKR1.34bn, PKR1.17bn, and 1.17bn, respectively.

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


  • There were no major political developments during the week, market remained range bound on lack of triggers. The result season also failed to induce investor interest
  • Heavyweight sectors Banks and Cement dragged the benchmark index down by 239pts and 167 pts, respectively, while fertilizer sector contributed 69pts on improvement in international urea prices
  • On individual basis, National Bank (NBP) plummeted 15.3%WoW, following Supreme Court’s unfavourable judgment in pension liability
  • Pakistan Oilfields’ (POL) announcement of discovery allowed the stock to gain 6.6%WoW
  • Pakistan’s total liquid foreign exchange reserves amounted to $20 billion on Sept 22, down $48.1 million or 0.24 per cent from a week ago. Reserves of the SBP decreased $151m to $14.13bn due to external debt servicing and other official payments
  • Defence ministry has given clearance for sale of 66.4% stake in K-Electric to Shanghai Electric power. However the issue of $1bn in dues still remains unresolved
  • State Bank of Pakistan (SBP) Monetary Policy Committee has decided to keep the policy rate unchanged at 5.75%. Going forward, there are anticipations of gain in exports on account of favourable global economic conditions, improvement in domestic energy supplies, and incentives given to exporting industry
  • Local fertilizer names EFERT, FFC and FFBL scored fresh gains as they tracked movement in international urea prices, while lucrative dividend yields on offer helped in garnering investor’s attention towards these stocks
  • Average urea prices (Middle East) eased by 15$/5% WoW to settle at US$275/ton, while futures were trading b/w US$260‐265 on Friday, pointing towards lower average prices in first week of October
  • Later part of the week was focused on ex-premier’s and finance minister’s appearance before the accountability court, while a segment of the opposition parties was seen lobbying for bringing in a new leader of the opposition to enhance their voice in the lower house 
  • With the implementation of a free trade agreement (FTA), which is about to be finalised, the bilateral trade between Pakistan and Thailand will be doubled
  • Cements (-3.7% WoW) were yet again a key laggard as provisional data for Sept-2017 suggests a decline of ~18% MoM in domestic demand during the month


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY
Current Price: PKR 87.49
Target Price: PKR 132

Attock Cement (ACPL) – BUY 
Current Price: PKR 202.0
Target Price: PKR 315

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 63.00
Target Price: PKR 90

Attock Petroleum (APL) – BUY 
Current Price: PKR 625.7
Target Price: PKR 796

Aisha Steels Limited (ASL) – BUY 
Current Price: PKR 18.9
Target Price: PKR 30

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 101.8
Target Price: PKR 156

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 42.4
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 57.60
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 120.0
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 146.9
Target Price: PKR 262.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 62.91
Target Price: PKR 83

ENGRO Foods Limited (EFOODS) – BUY 
Current Price: PKR 95.03
Target Price: PKR 138.66

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 303.09
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.05
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 32.5
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 35.85
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 83.1
Target Price: PKR 122.0

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 33.21
Target Price: PKR 100.00

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 180.8
Target Price: PKR 253.08

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 281.09
Target Price: PKR 428

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 539.5
Target Price: PKR 912.2

Habib Metro (HMB) – BUY 
Current Price: PKR 33.45
Target Price: PKR 52

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 98.54
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 111.8
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,720.82 
Target Price: PKR 2,214.3

Inter Steel Limited (ISL) – BUY 
Current Price: PKR 121.1
Target Price: PKR 178

Kohat Cement (KOHC) – BUY
Current Price: PKR 150.0
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.33
Target Price: PKR 32

Lucky Cement (LUCK) – BUY 
Current Price: PKR 565.2
Target Price: PKR 1,159.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,505.0
Target Price: PKR 2,051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 209.00
Target Price: PKR 250

Meezan Bank (MEBL) – BUY 
Current Price: PKR 74.43
Target Price: PKR 91

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 84.0
Target Price: PKR 179.0

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 49.14
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 340.00
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 54.52
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 40.1
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 145.10
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 44.9
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 148.6
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 76.0
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 89.5
Target Price: PKR 161

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 21.86 
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 10.80
Target Price: PKR 16

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 174.7
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 457.67
Target Price: PKR 800.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 441.8
Target Price: PKR 490

Pakistan Telecommunication (PTC) – BUY 
Current Price: PKR 14.73
Target Price: PKR 19.00

Tariq Glass (TGL) – BUY 
Current Price: PKR 105.1
Target Price: PKR 128

United Bank Limited (UBL) – BUY 
Current Price: PKR 190.2
Target Price: PKR 294

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. The information given in this blog /forum (http://www.karachistockexchange.org/) 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.org/)  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

Pakistan Stock Exchange (PSX) Weekly Analysis 24 Sep, 2017

BUY recommendations are:  ABL, ACPL, AICL, APL, ASL, ASTL, BAFL, BAHL, CHCC, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HBL, HASCOL, HCAR, HMB, HTL, HUBC, INDU, ISL, KOHC, LPL, LUCK, MARI, MCB, MEBL, MLCF, NBP, NATF, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POWER, PPL, PSMC, PSO, PTC, TGL, and UBL.

Top gainers of last week were: JDWS, DAWH, GLAXO, CSAP, NCL, ATRL, FFC, POML, PIBTL and NRL.

Top losers of last week were: KOHC, MEBL, IDYM, SHFA, BOP, MUREB, HBL, SNGP, EFOODS, and BWCL.

Top Volume Leaders of last week: TRG, KEL, PAEL, SSGC, BOP, EFERT, FFC, NCL, ATRL, and ISL.

The Pakistan Stock Exchange (PSX) market indexwent nowhere during the outgoing week as investors were in search of sunrise as political clouds rebuild. KSE-100 index has closed on 42,750 by losing -37 points or -0.09 % while KSE-30 index has closed on 21,881 by losing -99 points or -0.45 %.

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


  • Market participation improved as investors looked to gamble in penny stocks, average volumes were up 9% while value rose 3%
  • SBP released details for Aug’17 imports (+9%/US$355mn YoY to US$4.262bn); highest increase registered in Iron & Steel, up 108% YoY or US$167mn to US$321mn, followed by Mineral Fuels, Oils & Distillates (+15%YoY/US$142mn to US$1.1bn). Imports were down 10% on MoM basis or US$458mn
  • The Govt. plans to raise to Rs3.5trn from MTBs during Sep‐Nov whereas Rs250bn from PIBs as per the latest auction calendar of SBP
  • PML-N winning in NA-120 bye elections
  • National Accountability Bureau (NAB) posted its notice on the main gate of former Prime Minister Nawaz Sharif’s Jati Umra residence, according to sources. According to the notice, Nawaz cannot sell his residence to anyone. NAB Lahore has also sent notice to Finance Minister Ishaq Dar at his Islamabad and Lahore residence. According to the notice, Dar cannot sell his movable, immovable properties. Next hearing is on Sept 26th
  • National Accountability Bureau (NAB) on Friday arrested former National Bank of Pakistan (NBP) president Syed Ali Raza on charges of corruption after the Sindh High Court turned down Raza's bail request. NAB had filed a reference against the former NBP chief and other officials for allegedly misusing their authority by granting and revising financing facilities in the NBP Bangladesh branch that caused a loss of US$185mn to the national exchequer
  • Lahore High Court has ordered the Punjab government to make the Model Town incident report public. There were also media reports circulating during the week that the Finance Minister has decided to step down from his position
  • Murree Brewery (MUREB) reported FY17 EPS of Rs39 9 down 19% YoY Along with the result MUREB declared a final cash dividend of Rs10/sh
  • Nishat Chunian (NCL) announced its FY17 results, earnings grew 49% to Rs10.2/sh. Along with the result NCL declared a final dividend of Rs2.75/sh
  • Nishat Chunian Power (NCPL) disclosed FY17 EPS of Rs8.2, up 9% YoY. The company declared a final cash dividend of Rs1/sh
  • The prices of electricity and gas will go up as NEPRA has allowed power distribution companies to charge consumers 16.28% system losses compared to earlier permissible losses of 15.3%, while OGRA has increased prescribed tariff of gas of Sui Northern Gas (SNGP) by Rs60.65/MMBTU as the regulator has decided to pass on UFG losses of 6.3%. However, SNGP had asked for 9.21% UFG allowance 
  • Treet Corporation Limited, a PSX listed company, conducted a corporate briefing program for its Daewoo branded battery project, being completed at Faisalabad Industrial Estate located on M-3 Motorway Industrial City 
  • The Foreign Direct Investment (FDI) inflows jumped by 155 per cent to $457.2 million during the first two months of this fiscal year against $179.4m in the corresponding period of last year
  • Rabi (winter) crops, starting next month, are likely to face a shortfall of at least 7.2 million acre feet (MAF) of irrigation water on precarious supplies as exiting storage capacity in the country fell short to hold excessive inflows, officials said on Monday 
  • MoF seeking to appoint financial advisors for issuance of Islamic Sukuks upto US$1bn
  • UK reiterating its commitment to retain duty-free access for Pakistan
  • Senate standing committee demanding resignation of Finance Minister Ishaq Dar


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 90
Target Price: PKR 132

Attock Cement (ACPL) – BUY 
Current Price: PKR 201.4
Target Price: PKR 315

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 62.55
Target Price: PKR 90

Attock Petroleum (APL) – BUY 
Current Price: PKR 626.1
Target Price: PKR 796

Aisha Steels Limited (ASL) – BUY 
Current Price: PKR 19.2
Target Price: PKR 30

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 104.1
Target Price: PKR 156

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 42.1
Target Price: PKR 50

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 58.68
Target Price: PKR 72

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 128.5
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 152.1
Target Price: PKR 262.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 60.53
Target Price: PKR 83

ENGRO Foods Limited (EFOODS) – BUY 
Current Price: PKR 95.19
Target Price: PKR 138.66

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 311.48
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 29.90
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 34.3
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 35.38
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 78.5
Target Price: PKR 122.0

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 35.95
Target Price: PKR 100.00

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 185.0
Target Price: PKR 253.08

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 286.21
Target Price: PKR 428

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 535.4
Target Price: PKR 912.2

Habib Metro (HMB) – BUY 
Current Price: PKR 33.45
Target Price: PKR 52

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 99.53
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 115.6
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,756.1
Target Price: PKR 2,214.3

Inter Steel Limited (ISL) – BUY 
Current Price: PKR 123.2
Target Price: PKR 178

Kohat Cement (KOHC) – BUY
Current Price: PKR 157.1
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 22.18
Target Price: PKR 32

Lucky Cement (LUCK) – BUY 
Current Price: PKR 592.4
Target Price: PKR 1,159.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,550
Target Price: PKR 2,051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 212.95
Target Price: PKR 250

Meezan Bank (MEBL) – BUY 
Current Price: PKR 71.99
Target Price: PKR 91

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 88.1
Target Price: PKR 179.0

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 58.03
Target Price: PKR 74

National Foods (NATF) – BUY 
Current Price: PKR 348.50
Target Price: PKR 473

Nishat Chunian (NCL) – BUY 
Current Price: PKR 54.56
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 40.4
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 148.12
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 45.0
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 149.6
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 75.3
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 91.2
Target Price: PKR 161

Pakgen Power Limited (PKGP) – BUY 
Current Price: PKR 22.39
Target Price: PKR 34

Power Cement (POWER) – BUY 
Current Price: PKR 10.70
Target Price: PKR 16

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 175.2
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 455.19
Target Price: PKR 800.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 448.1
Target Price: PKR 490

Pakistan Telecommunication (PTC) – BUY 
Current Price: PKR 14.14
Target Price: PKR 19.00

Tariq Glass (TGL) – BUY 
Current Price: PKR 102.5
Target Price: PKR 128

United Bank Limited (UBL) – BUY 
Current Price: PKR 194.5
Target Price: PKR 294

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. The information given in this blog /forum (http://www.karachistockexchange.org/) 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.org/)  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

Pakistan Stock Exchange (PSX) Weekly Analysis 16 Sep, 2017

BUY recommendations are:  ABL, APL, CHCC, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HBL, HASCOL, HCAR, HUBC, INDU, KOHC, LUCK, MARI, MCB, MEBL, MLCF, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSMC, PSO, PTC, and UBL.

Top gainers of last week were: HBL, JSCL, MEBL, EFOODS, NBP, OLPL, ENGRO, MARI, NML and BAHL.

Top losers of last week were: SHFA, IDYM, PGF, CHCC, FEROZ, APL, PAKT, COLG, KTML and KOHC.

Top Volume Leaders of last week: TRG, BOP, JSCL, BAFL, KEL, SSGC, PAEL, SNGP, ATRL, and HBL.

The Pakistan Stock Exchange (PSX) market, was seen taking a pause from its recent bearish trend as it recorded a steady comeback of 1,386 points in the outgoing week. KSE-100 index has closed on 42,787 by gaining 1384 points or 3.35% while KSE-30 index has closed on 21,980 by gaining 874 points or 4.14%.

The average daily volumes and traded value picked-up to 157mn shares/day (+16% WoW) and US$82mn/day (+8% WoW) respectively, however they still remained at disappointing levels as locals continue to remain wary of domestic politics and economy.

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


  • Foreign institutional investors were net buyers during the week with an inflow of USD 27.7mn following FTSE’s inclusion of five additional from Pakistan
  • During the week, remittances figure for the month of August clocked in at USD1.95bn, up by 11%YoY. Country’s total FX reserves reported a 1%WoW jump and clocked in at USD20.6bn owing to inflow from ADB loan
  • Country’s trade deficit increased to USD6.3bn during Jul-Aug, up by 33.5%YoY
  • SNGPL and SSGC rejected the 7.1% UfG target losses proposed by the consultants hired by Ogra
  • Government approved export of 0.5mn tons at a subsidy of PKR10.7/kg in view of 2.8mn tons of sugar availability
  • The gain was led by Habib Bank (HBL) and National Bank of Pakistan (NBP) contributing a cumulative 518pts to the index, due to the former’s fine settlement at USD225mn, far below the USD630mn which had been priced into the stock. Engro Corporation (ENGRO) was the second major contributor to the index at 182pts
  • On the political front, the key NA-120 bye election is scheduled for Sunday while NAB is expected to file an appeal for reopening of Hudaibiya Mills’ case within the next seven days
  • Another highlight of the week was results for the refinery sector where FY17 EPS growth for Pakistan Refinery (PRL) came in at 370%, Attock Refinery (ATRL) at 663% and National Refinery (NRL) at 4.6%
  • Country’s trade deficit widening by 33.52%YoY to US$6.29bn in 2MFY18, where both imports/exports(+24.85/+11.8%YoY) witnessed upward trend
  • Foreign workers’ remittances during 2MFY18 tweaking up to US$3.49bn (+13.2% YoY) with a seasonal impact of Eid‐ul‐Azha
  • Inclusion of MCB, SNGP, BAFL, MTL and THAL in the FTSE Asia Pacific ex-Japan index also played its part in pushing the benchmark into green, on hopes of higher foreign flows being routed into the market
  • Pakistan has received two short-term loans worth $230 million from international creditors, meant to keep the official foreign exchange reserves at a level sufficient to provide cover to three-month import bill


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 86.00
Target Price: PKR 132

Attock Petroleum (APL) – BUY 
Current Price: PKR 609.07
Target Price: PKR 796

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 127.89
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 155.05
Target Price: PKR 262.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 58.30
Target Price: PKR 83

ENGRO Foods Limited (EFOODS) – BUY 
Current Price: PKR 99.57
Target Price: PKR 138.66

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 315.08
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 28.95
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 34.24
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 35.02
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 74.28
Target Price: PKR 122.0

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 35.95
Target Price: PKR 100.00

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 195.53
Target Price: PKR 253.08

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 292.02
Target Price: PKR 428

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 554.6
Target Price: PKR 912.2

HUBCO (HUBC) – BUY 
Current Price: PKR 117.18
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,761.12
Target Price: PKR 2,214.3

Kohat Cement (KOHC) – BUY
Current Price: PKR 176.76
Target Price: PKR 353

Lucky Cement (LUCK) – BUY 
Current Price: PKR 613.89
Target Price: PKR 1,159.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,538.7
Target Price: PKR 2051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 203.93
Target Price: PKR 250

Meezan Bank (MEBL) – BUY 
Current Price: PKR 77.93
Target Price: PKR 91

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 87.30
Target Price: PKR 179.0

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 59.09
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 51.56
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 41.00
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 148.03
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 45.35
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 152.32
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 73.4
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 93.63
Target Price: PKR 161

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 495.44
Target Price: PKR 518

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 178.1
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 461.12
Target Price: PKR 800.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 445.01
Target Price: PKR 490

Pakistan Telecommunication (PTC) – BUY 
Current Price: PKR 13.81
Target Price: PKR 19.00

United Bank Limited (UBL) – BUY 
Current Price: PKR 189.65
Target Price: PKR 294

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. The information given in this blog /forum (http://www.karachistockexchange.org/) 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.org/)  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

Pakistan Stock Exchange (PSX) Weekly Analysis 9 Sep, 2017

BUY recommendations are:  ABL, APL, CHCC, DGKC, EFERT, EFOODS, ENGRO, FATIMA, FCCL, FFBL, FFC, GWLC, HBL, HASCOL, HCAR, HUBC, INDU, KOHC, LOTCHEM, LUCK, MARI, MCB, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSMC, PSO, PTC, RPL, SEARL and UBL.

Top gainers of last week were: TRG, JSCL, MTL, CJPL and EFOODS.

Top losers of last week were: HBL, CPPL, HASCOL, FEROZ, and PICT.

Top Volume Leaders of last week: TRG, ANL, ASL, BOP, and EPCL.

The Pakistan Stock Exchange (PSX) market, bears gained a foothold in the market in the week. KSE-100 index has closed on 41,401 by gaining 194 points or 0.47% while KSE-30 index has closed on 21,106 by gaining 103 points or 0.49%.

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


  • HBL's tussle with US regulators and perceived economic weakness, kept the KSE‐100 index up marginally (+0.47%WoW) to close at 41,401 points. Negative news flow concerning HBL’s money laundering case in USA weighed on the investors’ sentiments and kept them weak
  • CPI based inflation clocked in at 3.41%YoY in Aug'17 (CY17 average inflation now stands at 4.1%YoY)
  • In an out of court settlement, HBL has agreed with NYDFS to pay fine of US$225mn against violations of state regulatory provisions with the required penalty paid within 14 days of consent order execution
  • Pakistan's total foreign exchange reserves increased by 1.93%WoW (US$386mn) to US$20.387bn during the week ended Aug 31'17 (import cover of 4.3 months)
  • OGRA has officially notified revised well head gas price for PPL's flagship field "Sui", where the new price is PkR286/mmbtu (previously at PkR149/mmbtu), higher by ~92%
  • The Trump administration has reportedly held back previously promised military aid of US$255mn to Pakistan by attaching new conditions
  • Inflation figure for the month of August were released by PBS where the headline inflation clocked in at 3.41%YoY during Aug’17, in line with our estimates
  • Country’s total FX reserves reported a 2%WoW jump and clocked in at USD20.4bn
  • The government has decided to resume the process of privatization and divest up to 18.4% of its shareholding in Mari Petroleum Company Limited
  • K-Electric is seeking to buy about 1mn ton of liquefied natural gas (LNG) annually to feed a new power plant and is due to take bids from prospective suppliers


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 85.00
Target Price: PKR 132

Attock Petroleum (APL) – BUY 
Current Price: PKR 637.9
Target Price: PKR 796

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 134.54
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 155.83
Target Price: PKR 262.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 55.23
Target Price: PKR 83

ENGRO Foods Limited (EFOODS) – BUY 
Current Price: PKR 90.76
Target Price: PKR 138.66

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 290.68
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 28.70
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 34.83
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 33.54
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 71.64
Target Price: PKR 122.0

Gharibwal Cement Ltd. (GWLC) – BUY 
Current Price: PKR 36.55
Target Price: PKR 100.00

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 160.58
Target Price: PKR 253.08

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 294.13
Target Price: PKR 428

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 571.2
Target Price: PKR 912.2

HUBCO (HUBC) – BUY 
Current Price: PKR 114.40
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,725.11
Target Price: PKR 2,214.3

Kohat Cement (KOHC) – BUY
Current Price: PKR 182.9
Target Price: PKR 353

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 8.2
Target Price: PKR 10.2

Lucky Cement (LUCK) – BUY 
Current Price: PKR 596.15
Target Price: PKR 1,159.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,427.0
Target Price: PKR 2051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 195.9
Target Price: PKR 250

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 88.14
Target Price: PKR 179.0

Millat Tractors Ltd.(MTL) – BUY 
Current Price: PKR 1,264.2
Target Price: PKR 1,675.3

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 53.94
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 50.6
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 41.0
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 137.90
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 45.0
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 147.91
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 73.4
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 94.77
Target Price: PKR 161

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 479.4
Target Price: PKR 518

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 172.8
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 455.22
Target Price: PKR 800.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 434.01
Target Price: PKR 490

Pakistan Telecommunication (PTC) – BUY 
Current Price: PKR 13.80
Target Price: PKR 19.00

Roshan Packages Ltd. (RPL) – BUY 
Current Price: PKR 53.7
Target Price: PKR 87.0

The Searle Co. Ltd. (SEARL) – BUY 
Current Price: PKR 387.5
Target Price: PKR 776.3

United Bank Limited (UBL) – BUY 
Current Price: PKR 191.78
Target Price: PKR 294

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. The information given in this blog /forum (http://www.karachistockexchange.org/) 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.org/)  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

Pakistan Stock Exchange (PSX) Weekly Analysis 4 Sep, 2017

BUY recommendations are:  ABL, ACPL, AICL, APL, CHCC, DGKC, EFERT, ENGRO, FATIMA, FCCL, FFBL, FFC, HASCOL, HCAR, HTL, HUBC, INDU, KOHC, LPL, LUCK, MARI, MCB, MLCF, NATF, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, PIOC, PKGP, POL, POWER, PPL, PSMC, PSO and UBL.

Top gainers of last week were: SCBPL, IBFL, PMPK, MLCF, DAWH, THALL, OLPL, SHFA, ATRL and ARM.

Top losers of last week were: HBL, MARI, FEROZ, SRVI, CJPL, HCAR, JLICL, TRG, NBP and SPWL.

Top Volume Leaders of last week: TRG, SSGC, BOP, KEL, DGKC, SNGP, PAEL, ISL, UBL, BAFL, and FCCL.

The Pakistan Stock Exchange (PSX) market index persisted on its downward trajectory in the outgoing week as it tested the 41K level, managing to end the week marginally above this psychological limit. KSE-100 index has closed on 41,206 by losing -1,436 points or -3.4%.

Average trading volumes slumped, falling 40%WoW to 109mn shares from 180mn in previous week. Activity was focused in retail favorite stocks, which included TRG (55mn), ANL (49mn), SSGC (26mn), ASL (19mn) and BOP (19mn).

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


  • Volumes were bone dry across the board as investors were weary of market conditions and opted to stay on the side lines ahead of the long weekend
  • Foreigners' net selling stood at USD8.8mn during the first three days of the week while Companies and Banks/DFIs absorbed the selling with net buying of USD10.5mn and USD3.6mn, respectively
  • Government has raised Petrol price by Rs2/ltr to Rs71.5/ltr from 1st Sep, Diesel price remains unchanged at Rs77.4/ltr
  • Pakistan’s population soaring to 208mn in latest census
  • As monsoon rains continue to lash the city, the Karachi administration has requested Pakistan Army for assistance in conduct of rescue and relief activities in the city. “Karachi administration requested army for assistance in managing torrential rain effect in city,” the Inter-Services Public Relations (ISPR) said
  • The new spell of rains in Sindh will affect phutti (seed cotton) quality as excess moisture directly impacts cotton. Ginning factories refuse to buy cotton that contains moisture. “It’s not just cotton. There are onion, paddy and sugarcane crops that can face serious damages if heavy rain continues,” said Mahmood Nawaz Shah, a cotton grower and vice president of SAB. He said the current rainfall has already caused a 50pc loss to the remainder of the crop that is ready to be harvested. Accumulation of rainwater is largely due to drainage that fails to work in heavy rain
  • Foreigners' net selling stood at USD8.8mn during the first three days of the week while Companies and Banks/DFIs absorbed the selling with net buying of USD10.5mn and USD3.6mn, respectively
  • Government has raised Petrol price by Rs2/ltr to Rs71.5/ltr from 1st Sep, Diesel price remains unchanged at Rs77.4/ltr
  • Pakistan’s population soaring to 208mn in latest census
  • As monsoon rains continue to lash the city, the Karachi administration has requested Pakistan Army for assistance in conduct of rescue and relief activities in the city. “Karachi administration requested army for assistance in managing torrential rain effect in city,” the Inter-Services Public Relations (ISPR) said
  • GoP’s decision to sell its remaining stake in MARI through an SPO, proved to be a hefty blow for the stock as it pared gains made in recent days
  • The result season did not witness any major results during the outgoing week, which also played its part in evaporation of volumes from the market
  • The release of fertilize statistics proved to be a dampener for the sector amid lower urea sales on account of higher base seen last month, while on the DAP front EFERT managed to take a lead ahead of FFBL
  • Cement off-take registered a notable spike which helped the sector salvage some pride in the face of recent hammering driven by rumors of the pricing arrangement being derailed
  • Foreigners remained net sellers at the local index as FIPI recorded a MTD outflow of USD74.76mn while the eventful week saw a sum of USD8.74mn being traced outwards, especially in banking names. The remaining results season especially in oils and cements may bring some volumes, bringing a halt to the ongoing lull 
  • The government is likely to import Liquefied Natural Gas (LNG) and POL products from Maldives after an Inter-Governmental Agreement (IGA) is inked between the two countries
  • Profits and dividends on foreign direct investment (FDI) repatriated in July amounted to $142 million compared to $125m in the same month of last fiscal year, the central bank reported on Friday
  • Puma Energy, a Singapore-based midstream and downstream oil firm, acquired a majority stake in oil marketing company Admore Gas Pvt Ltd to roll out its products in the country with growing gasoline consumption 
  • Shares of Habib Bank Ltd (HBL) hit their lower lock on Monday as news of a possible fine of up to $630 million broke in the morning. The bank informed its shareholders about the development through a letter to the Pakistan Stock Exchange (PSX). It also announced the closure of its New York branch after receiving notice from the New York Department of Financial Services (DFS) 
  • Amreli Steels Ltd informed the Pakistan Stock Exchange (PSX) on Monday about the second phase of its expansion plan and its current status. Its board approved the second phase of the expansion plan on April 20 
  • The mobile phone imports surged by 48.41 per cent to $68.57 million during the first month of this fiscal year compared to $46.20m last in July 2016, according to the data of Pakistan Bureau of Statistics (PBS) 
  • Edotco Group in partnership with Dawood Hercules Corporation Ltd (DH Corp) announced the acquisition of approximately 13,000 towers from Pakistan Mobile Communications Limited (Jazz) 
  • Ali Jahangir Siddiqui has been appointed as Special Assistant to the Prime Minister with the status of Minister of State

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 86.86
Target Price: PKR 132

Attock Cement (ACPL) – BUY 
Current Price: PKR 207.00
Target Price: PKR 380

Adamjee Insurance (AICL) – BUY 
Current Price: PKR 61.46
Target Price: PKR 92

Attock Petroleum (APL) – BUY 
Current Price: PKR 635.00
Target Price: PKR 796

Cherat Cement Company Limited (CHCC) – BUY 
Current Price: PKR 141.15
Target Price: PKR 251

Dera Ghazi Khan Cement (DGKC) – BUY 
Current Price: PKR 155.48
Target Price: PKR 262.0

ENGRO Fertilizer Limited (EFERT) – BUY 
Current Price: PKR 57.89
Target Price: PKR 83

ENGRO Corporations (ENGRO) – BUY 
Current Price: PKR 283.51
Target Price: PKR 400

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 28.59
Target Price: PKR 45.1

Fauji Cement Company Limited (FCCL) – BUY 
Current Price: PKR 34.31
Target Price: PKR 54

Fauji Fert Bin Qasim (FFBL) – BUY 
Current Price: PKR 33.53
Target Price: PKR 67

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 70.86
Target Price: PKR 122.0

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 316.93
Target Price: PKR 428

Honda Atlas Cars (Pak) Ltd. (HCAR) – BUY 
Current Price: PKR 550.2
Target Price: PKR 912.2

Hi-Tech Lubricants (HTL) – BUY 
Current Price: PKR 101.28
Target Price: PKR 133

HUBCO (HUBC) – BUY 
Current Price: PKR 113.09
Target Price: PKR 144

Indus Motors (INDU) – BUY 
Current Price: PKR 1,744.54
Target Price: PKR 2,214.3

Kohat Cement (KOHC) – BUY
Current Price: PKR 184.50
Target Price: PKR 353

Lalpir Power (LPL) – BUY 
Current Price: PKR 21.21
Target Price: PKR 32

Lucky Cement (LUCK) – BUY 
Current Price: PKR 597.00
Target Price: PKR 1,159.0

MARI Petroleum (MARI) – BUY 
Current Price: PKR 1,435.9
Target Price: PKR 2051

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR 193.5
Target Price: PKR 250

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 92.02
Target Price: PKR 179.0

National Foods (NATF) – BUY 
Current Price: PKR 352.00
Target Price: PKR 473

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 55.53
Target Price: PKR 74

Nishat Chunian (NCL) – BUY 
Current Price: PKR 52.21
Target Price: PKR 74

Nishat Chunian Power (NCPL) – BUY 
Current Price: PKR 40.39
Target Price: PKR 59

Nishat Mills (NML) – BUY 
Current Price: PKR 142.87
Target Price: PKR 186

Nishat Power (NPL) – BUY 
Current Price: PKR 45.44
Target Price: PKR 81

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 141.10
Target Price: PKR 200

Pak Elektron Ltd. (PAEL) – BUY 
Current Price: PKR 73.4
Target Price: PKR 126.1

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 99.54
Target Price: PKR 161

Pakgen Power (PKGP) – BUY 
Current Price: PKR 21.52
Target Price: PKR 34

Pakistan Oilfields Limited (POL) – BUY 
Current Price: PKR 480.39
Target Price: PKR 518

Power Cement (POWER) – BUY 
Current Price: PKR 10.89
Target Price: PKR 26

Pakistan Petroleum Limited (PPL) – BUY 
Current Price: PKR 165.2
Target Price: PKR 218

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 448.77
Target Price: PKR 800.7

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 419.85
Target Price: PKR 490

United Bank Limited (UBL) – BUY 
Current Price: PKR 186.13
Target Price: PKR 294

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. The information given in this blog /forum (http://www.karachistockexchange.org/) 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.org/)  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