Pakistan Stock Exchange (PSX) Weekly Analysis 30 December, 2018

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, BAFL, BOP, CHCC, DGKC, ENGRO, EFERT, FATIMA, FFBL, FFC, GWLC, HASCOL, HBL, HCAR, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MLCF, MTL, NBP, NML, OGDC, PAEL, PIOC, POL, PPL, PSMC, PSO, SNGP, and UBL.

Top gainers of last week were: FATIMA, FFC, APL, ABL, FABL, ABOT, MEBL, SHEL and KAPCO.

Top losers of last week were: BAFL, UBL, ENGRO, LUCK, OGDC, PPL, FCCL, DGKC, and EFOODS .

Top Volume Leaders of last week:  BOP, LOTCHEM, KEL, BAFL, and PAEL.

The Pakistan Stock Exchange (PSX) market index declined because of the emerging political instability and economic slowdown. KSE-100 index closed on 37,167 by losing 1084 points, while KSE-30 index closed on 17,274 by losing 785 points.

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


  • The political front kept noise higher during the week as the joint investigation team (JIT) submitted its report to the Supreme Court on fake account case
  • The accountability court announced its verdict against Nawaz Shareef’s Al Aziziah reference case thereby imposing seven years imprisonment
  • In fake accounts case Asif Ali Zardari was placed on the ECL
  • Average daily traded volume improved by 5% WoW to 110mn
  • Foreign selling stood at USD1.1mn for the week while domestic mutual funds also offloaded shares worth USD6.2mn
  • The Banks, Power, Cement and Chemical sectors were the volume leaders
  • All sectors witnessed a selling pressure. The Banks, Cements, Refinery, E&P and Fertilizers were the negative contributors and declined the Index by 672 points
  • Net-selling from Insurance (US$2.19mn) that has been providing key support to the market in recent times, followed by Mutual Funds (US$6.2mn) while their selling was mainly absorbed by Banks (US$4.57mn)
  • Across the board selling was witnessed in the market with Cement (down 4.5%), Oil & Gas (down 3.8% where volatility in international oil prices also played a part), and followed by Banks (down 3.1%) 
  • Chinese bank to loan USD 262 mn for Thar coal power project
  • NESPAK has secured a short-term assignment of the Diamer Basha Dam project through competitive bidding
  • SNGPL to get Rs 26 bn to supply gas to export oriented industry
  • IMF puts Pakistan in a tight spot. The IMF has asked Pakistan to ensure primary surplus on budget deficit to move ahead with the program
  • Government releases Rs184.6b for development projects
  • K-Electric acquisition: Shanghai Electric receives nine-month extension
  • FIA raided the head office of Securities and Exchange Commission of Pakistan (SECP) and taken the record pertaining to a bank 

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 106.95
Target Price: PKR 121

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 115.26
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 23.89
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 430.13
Target Price: PKR 530.3

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 47.59
Target Price: PKR 92.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 42.33
Target Price: PKR 69.6

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.40
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 68.17
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 81.77
Target Price: PKR 122

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 298.01
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 69.77
Target Price: PKR 90.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 36.55
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 37.57
Target Price: PKR 48.10

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 91.97
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 15.70
Target Price: PKR 36

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 150.95
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 120.25
Target Price: PKR 170

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 171.57
Target Price: PKR 206

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 85.87
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,181.25
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 49.52
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 84.31
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 17.01
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 455.56
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1246.86
Target Price: PKR  1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   189.38
Target Price: PKR 231.4

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 41.52
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 872.59
Target Price: PKR  1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 42.57
Target Price: PKR 57.74

Nishat Mills (NML) – BUY 
Current Price: PKR 130.47
Target Price: PKR 167.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 127.72
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 24.73
Target Price: PKR 51.70

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 43.04
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 415.24
Target Price: PKR 657

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 147.75
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 174.99
Target Price: PKR 346

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 228.15
Target Price: PKR 399.08

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 76.98
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 128.26
Target Price: PKR 173.9

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 23 December, 2018

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, BAFL, BOP, CHCC, DGKC, ENGRO, EFERT, FATIMA, FFBL, FFC, GWLC, HASCOL, HBL, HCAR, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MLCF, MTL, NBP, NML, OGDC, PAEL, PIOC, POL, PPL, PSMC, PSO, SNGP, and UBL.

Top gainers of last week were: MLCF, APL, FFBL, PAKT, ENGRO, KEL, ABL, TRG.

Top losers of last week were: PPL, HBL, POL, GWLC, PSMC, FFC, BAHL.

Top Volume Leaders of last week:  KEL, BOP, PAEL, EPCL and TRG.

The Pakistan Stock Exchange (PSX) market index witnessed a dull activity throughout the week and the Index consolidated around 38,000 levels. The decline in the market was primarily witnessed due to the decline in oil prices in the international market and the continuing uncertainty on the economic front. The Index showed a slight recovery during the last trading day of the week on the announcement of USD 3bn economic assistance package by UAE. KSE-100 index closed on 38,251 by losing 335 points, while KSE-30 index closed on 18,059 by losing 347 points.

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


  • The E&P and Banking stocks emerged as the negative contributors and eroded 374 and 177 points respectively
  • Increased clarity on points of contention between the IMF and Pakistan's negotiations over an additional facility with FX support in the form of previously pledged US1bn from Saudi Arabia and financing facility worth US$3bn from the UAE failed to raise participation (average daily turnover for the week fell 13.4%WoW) and fermented bearish sentiment
  • Foreigners continued to stand out the major sellers with net outflows of USD12.2mn. The mutual funds and Individuals were the net buyers worth USD7mn cumulatively
  • In a meeting of senior representatives of different Islamic banks on matters pertaining to the launch of Islamic Sukuk by the GoP's power sector holding company, while the Economic Coordination Committee (ECC) of the Cabinet has reportedly directed Power Division and Finance Division to prepare a joint plan for raising PkR300bn Islamic financing by mortgaging Discos' assets
  • A bit of a commotion was caused at the of 'withdrawal of public announcement of intention (PoI) to acquire 18,336 mn shares or 66.40 per cent stake in K-Electric Ltd by Shanghai Electric Power Company Ltd', where a fresh PoI is highly likely
  • The country's liquid foreign exchange reserves increased by US$831mnWoW, mainly due to arrival of US$1bn from Saudi Arabia with total liquid forex reserves at US$14.584bn as on Dec 14th while the UAE's Abu Dhabi Development Fund reportedly pledged to keep US$3bn in the SBP's coffers
  • The Banks, Technology, Power and Chemical sectors were the volume leaders
  • IMF demands sharp revenue hikes
  • PC board refuses to delay privatization of three firms
  • Government offers IMF Rs190b in new taxes for bailout
  • PTI government likely to present second mini-budget in Jan
  • Upcoming judgment for landmark accountability cases before various judicial forums and news flow pertaining to granular details surrounding an IMF facility and bi-lateral assistance should keep markets range bound over the coming week

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 107.51
Target Price: PKR 121

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 117.69
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 23.88
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 429.68
Target Price: PKR 530.3

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 49.61
Target Price: PKR 92.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 46.33
Target Price: PKR 69.6

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.88
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 71.95
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 88.15
Target Price: PKR 122

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 314.37
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 72.17
Target Price: PKR 90.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.15
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 38.02
Target Price: PKR 48.10

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 91.51
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.10
Target Price: PKR 36

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 155.37
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 181.72
Target Price: PKR 170

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 181.72
Target Price: PKR 206

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 89.55
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,204.88
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 49.96
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 87.71
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 18.08
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 486.88
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1309.56
Target Price: PKR  1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   194.76
Target Price: PKR 231.4

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 43.96
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 894.12
Target Price: PKR  1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 45.73
Target Price: PKR 57.74

Nishat Mills (NML) – BUY 
Current Price: PKR 132.03
Target Price: PKR 167.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 133.61
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 27
Target Price: PKR 51.70

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 44.21
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 429.97
Target Price: PKR 657

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 154.04
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 186.02
Target Price: PKR 346

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 239.75
Target Price: PKR 399.08

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 76.86
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.40
Target Price: PKR 173.9

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 17 December, 2018

BUY recommendations are:  ABL, ACPL, APL, AKBL, ASTL, BAFL, CHCC, DGKC, ENGRO, EFERT, FATIMA, FFBL, FFC, GWLC, HASCOL, HBL, HCAR, HUBCO, INDU, KOHC, LUCK, MARI, MCB, MLCF, MTL, NBP, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSMC, PSO, SEARL, SNGPL, UBL.

Top gainers of last week were: EFOODS, ABL, PPL, LUCK, and ENGRO.

Top losers of last week were: MLCF, HASCOL, PSMC, ASTL, and FFBL.

Top Volume Leaders of last week:  KEL, PAEL, BOP, TRG, and EPCL.

The Pakistan Stock Exchange (PSX) market index gyrated during the week. KSE-100 index closed on 38,586 by gaining 24 points or 0.06%, while KSE-30 index closed on 18,406 by gaining 24 points.

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


  • PM and Finance Minister giving assurances on Tax/Regulatory concessions for the equity market and positive outcome of the OPEC meeting (OPEC members and Russia agreed to a cut of 1.2mn bpd effective Jan’19)
  • Uncertainty surrounding IMF program
  • Delay in issuance of US$3bn bonds
  • US placing Pakistan on the blacklist (before removing it shortly)
  • SSGC closed gas transmission to captive power plants as the company faced gas shortage while resuming it after three days
  • SC decision to allow high rise construction in Karachi,
  • Positive developments surrounding KE sale, failed to invigorate any interest
  • Friday blessed market again with a positive close as Pakistan received another tranche of Saudi Aid of US$1bn
  • ENGRO sold 24% of outstanding shares of Elengy Terminal Pakistan Limited (EPTL) to VOPAK for US$31.4mn

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 102
Target Price: PKR 121

Attock Cement Limited (ACPL) – BUY 
Current Price: PKR 116.81
Target Price: PKR 139.7

Attock Petroleum (APL) – BUY 
Current Price: PKR 408.41
Target Price: PKR 530.3

Askari Bank Limited (AKBL) – BUY 
Current Price: PKR 23.59
Target Price: PKR 29.2

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 49.93
Target Price: PKR 92.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 48
Target Price: PKR 69.6

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 70
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 89
Target Price: PKR 122

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 307
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 73
Target Price: PKR 90.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 35
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 36
Target Price: PKR 48.10

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 94
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 17
Target Price: PKR 36

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 164
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 132
Target Price: PKR 170

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 182.70
Target Price: PKR 325.3

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 90
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,195
Target Price: PKR 1,426.6

Kohat Cement Co. (KOHC) – BUY 
Current Price: PKR 87.40
Target Price: PKR 152.5

Lucky Cement (LUCK) – BUY 
Current Price: PKR 484
Target Price: PKR 605.8

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   194.
Target Price: PKR 231.4

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 41
Target Price: PKR 56.6

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,354.71
Target Price: PKR 1,781.5

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 878.97
Target Price: PKR 1,255.1

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 47
Target Price: PKR 57.74

Nishat Chunian Power Ltd. (NCPL) – BUY 
Current Price: PKR 23.27
Target Price: PKR 32.7

Nishat Mills (NML) – BUY 
Current Price: PKR 132.03
Target Price: PKR 167.5

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 25.21
Target Price: PKR 39.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 139
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 25.40
Target Price: PKR 51.70

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 42
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 465
Target Price: PKR 657

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 169
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 196
Target Price: PKR 346

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 237
Target Price: PKR 399.08

The Searle Co. Ltd. (SEARL) – BUY 
Current Price: PKR 242.34
Target Price: PKR 505.0

Sui Northern Gas Pipeline Ltd. (SNGPL) – BUY 
Current Price: PKR 75.16
Target Price: PKR 131.6

United Bank Limited (UBL) – BUY 
Current Price: PKR 140
Target Price: PKR 173.9

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 December, 2018

BUY recommendations are:  ABL, ACPL, APL, AKBL, ASTL, BAFL, CHCC, DGKC, ENGRO, EFERT, FATIMA, FFBL, FFC, GWLC, HASCOL, HBL, HCAR, HUBCO, INDU, KOHC, LUCK, MARI, MCB, MLCF, MTL, NBP, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSMC, PSO, SEARL, SNGPL, UBL.

Top gainers of last week were: FCCL, FATIMA, UBL, KEL and EFERT.

Top losers of last week were: APL, HASCOL, PIOC, PSO and PSMC.

Top Volume Leaders of last week:  KEL, BOP, LOTCHEM, MLCF, and PAEL.

The Pakistan Stock Exchange (PSX) market index witnessed another difficult week for the market with KSE-100 index closing at 38,562.05pts. KSE-100 index closed on 38,562 by losing 1934 points or 4.8%, while KSE-30 index closed on 18,382 by losing 942 points.

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


  • Unexpected interest rate hike of 150bps to 10.0% by SBP in post market hours on previous Friday caught investors off guard
  • The Sensitive Price Indicator (SPI) for the week ended December 7, 2018 registered a decrease of 0.55% for the combined income group, going down from 239.25 points in the prior week to 237.94 in the week under review
  • PkR currency depreciation triggered across the board selling
  • Oil prices receded 2.4%WoW in the run-up to the OPEC’s meeting as non-OPEC producers expand production, with pressure being exerted by OPEC’s decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia
  • Oil & Gas sector lost 5.7% of its market capitalization during the week
  • The negatives overshadowed the improving relationship of Pakistan with the US, with the latter coming for assistance in negotiating settlement of the Afghan War
  • Importantly, foreign selling subsided in the current week with FIPI standing at –ve USD2.5mn vs. –ve USD51.1mn in the previous week (USD32.6mn net selling on Friday, being the last day for MSCI rebalancing in the local market)
  • Average volumes turned lower standing at 205.0mn shares (KSE All-share) vs. 278.2mn shares in the previous week whereas activity was tilted towards blue-scrips with KSE-100/KSE-All share traded value standing at 0.74x vs. 0.66x in the previous week


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 96.00
Target Price: PKR 121

Attock Cement Limited (ACPL) – BUY 
Current Price: PKR 119.68
Target Price: PKR 139.7

Attock Petroleum (APL) – BUY 
Current Price: PKR 413.27
Target Price: PKR 530.3

Askari Bank Limited (AKBL) – BUY 
Current Price: PKR 24.93
Target Price: PKR 29.2

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 57.95
Target Price: PKR 92.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 48.61
Target Price: PKR 69.6

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 72.07
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 89.72
Target Price: PKR 122

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 299.54
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 74.18
Target Price: PKR 90.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.15
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 37.65
Target Price: PKR 48.10

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 94.25
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 17.37
Target Price: PKR 36

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 173.76
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 132.51
Target Price: PKR 170

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 192.10
Target Price: PKR 325.3

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 94.77
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,184.92
Target Price: PKR 1,426.6

Kohat Cement Co. (KOHC) – BUY 
Current Price: PKR 88.18
Target Price: PKR 152.5

Lucky Cement (LUCK) – BUY 
Current Price: PKR 469.59
Target Price: PKR 605.8

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   197.35
Target Price: PKR 231.4

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 44.21
Target Price: PKR 56.6

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,325.27
Target Price: PKR 1,781.5

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 904.91
Target Price: PKR 1,255.1

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 46.96
Target Price: PKR 57.74

Nishat Chunian Power Ltd. (NCPL) – BUY 
Current Price: PKR 24.49
Target Price: PKR 32.7

Nishat Mills (NML) – BUY 
Current Price: PKR 136.54
Target Price: PKR 167.5

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 26.80
Target Price: PKR 39.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 140.29
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 28.49
Target Price: PKR 51.70

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 42.87
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 463.07
Target Price: PKR 657

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 162.47
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 206.12
Target Price: PKR 346

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 235.19
Target Price: PKR 399.08

The Searle Co. Ltd. (SEARL) – BUY 
Current Price: PKR 243.53
Target Price: PKR 505.0

Sui Northern Gas Pipeline Ltd. (SNGPL) – BUY 
Current Price: PKR 77.48
Target Price: PKR 131.6

United Bank Limited (UBL) – BUY 
Current Price: PKR 140.02
Target Price: PKR 173.9

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 1 December, 2018

BUY recommendations are:  ABL, ACPL, APL, AKBL, ASTL, BAFL, CHCC, DGKC, EFERT, FATIMA, FFBL, FFC, GWLC, HASCOL, HBL, HCAR, HUBCO, INDU, KOHC, LUCK, MARI, MCB, MLCF, MTL, NBP, NCPL, NML, NPL, OGDC, PAEL, PIOC, POL, PPL, PSMC, PSO, SEARL, SNGPL, UBL.

Top gainers of last week were: EFOODS, PPL, MCB, OGDC, and HBL.

Top losers of last week were: CHCC, ASTL, PIOC, FCCL, and LUCK.

Top Volume Leaders of last week:  UBL, LOTCHEM, BOP, PAEL, and FCCL.

The Pakistan Stock Exchange (PSX) market index week ended with the dominance of bears. KSE-100 index closed on 40,496 by losing 373 points or 0.91%, while KSE-30 index closed on 19,324 by losing 119 points.

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


  • The State Bank of Pakistan raised its benchmark policy rate by 150bps to 10 percent 
  • Lack of clarity on external funding amidst foreign selling pressure (US$51.1mn vs. US$11.6mn in the last week) post MSCI rebalancing kept the domestic market under pressure
  • Market activity remained lackluster with average daily turnover declining to 151.9mn shares, down 3.1% WoW
  • Rupee losing another 2.5% against dollar, with PKR/US$ parity settling at PkR136.75 after touching intra-day high of 143
  • Pakistan’s total foreign exchange reserves surging 6.24%WoW to US$14.57bn during the week ended Nov 23’18, with reserves held by central bank increasing by US$776mn to US$8.06bn
  • The GoP deciding to raise up to PkR200bn to bail out the country’s ever-bleeding power sector by pledging major assets of the distribution and generation companies
  • Country’s fiscal deficit rising to 1.4% of GDP or PKR542bn in 1QFY19, compared to 1.2pc or PkR441bn in the same period last year
  • NEPRA withholding countrywide applicability of PkR1.27 per unit increase in uniform electricity tariff, citing legal grounds

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 103.73
Target Price: PKR 121

Attock Cement Limited (ACPL) – BUY 
Current Price: PKR 130.74
Target Price: PKR 139.7

Attock Petroleum (APL) – BUY 
Current Price: PKR 479.89
Target Price: PKR 530.3

Askari Bank Limited (AKBL) – BUY 
Current Price: PKR 25.31
Target Price: PKR 29.2

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 57.95
Target Price: PKR 92.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 50.07
Target Price: PKR 69.6

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 78.62
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 97.19
Target Price: PKR 122

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 76.37
Target Price: PKR 90.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.50
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 39.63
Target Price: PKR 48.10

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 98.56
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 18.01
Target Price: PKR 36

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 200.46
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 139.86
Target Price: PKR 170

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 206.98
Target Price: PKR 325.3

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 94.77
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,294.79
Target Price: PKR 1,426.6

Kohat Cement Co. (KOHC) – BUY 
Current Price: PKR 94.84
Target Price: PKR 152.5

Lucky Cement (LUCK) – BUY 
Current Price: PKR 493.92
Target Price: PKR 605.8

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   206.10
Target Price: PKR 231.4

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 48.43
Target Price: PKR 56.6

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR 1,391.31
Target Price: PKR 1,781.5

Millat Tractors Ltd. (MTL) – BUY 
Current Price: PKR 984.87
Target Price: PKR 1,255.1

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 48.75
Target Price: PKR 57.74

Nishat Chunian Power Ltd. (NCPL) – BUY 
Current Price: PKR 25.30
Target Price: PKR 32.7

Nishat Mills (NML) – BUY 
Current Price: PKR 147.82
Target Price: PKR 167.5

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 28.55
Target Price: PKR 39.8

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 147.54
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 28.49
Target Price: PKR 51.70

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 49.24
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 486.00
Target Price: PKR 657

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 169.31
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 232.16
Target Price: PKR 346

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 268.70
Target Price: PKR 399.08

The Searle Co. Ltd. (SEARL) – BUY 
Current Price: PKR 258.27
Target Price: PKR 505.0

Sui Northern Gas Pipeline Ltd. (SNGPL) – BUY 
Current Price: PKR 79.66
Target Price: PKR 131.6

United Bank Limited (UBL) – BUY 
Current Price: PKR 141.53
Target Price: PKR 173.9

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