Pakistan Stock Exchange (PSX) Weekly Analysis 28 January, 2019

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

Top gainers of last week were:  PSMC, HBL, UBL, MCB, HUBC, and PPL.

Top losers of last week were: APL, GWLC, EFERT, EFUG, PSO, PIOC, and FATIMA.

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

The Pakistan Stock Exchange (PSX) market index closed in the green for the fourth consecutive week (cumulatively rising 8%). KSE-100 index closed on 40,265 by gaining 958 points or 2.44%, while KSE-30 index closed on 19,347 by gaining 590 points or 3.15 %.

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


  • The unveiling of much-awaited 'mini budget' during the week kept the momentum positive
  • Average daily volume mimicked the same optimism and increased by 44%WoW to 168mn shares while net foreign buying of US$17mn during the week also supported the index
  • The State Bank of Pakistan (SBP) receiving US$1bn from the UAE following an agreement with the Abu Dhabi Fund for Development (ADFD) in Abu Dhabi on Jan 22
  • The cabinet approving Gas Infrastructure Development Cess settlement mechanism
  • The IMF revising GDP growth projections downwards to three percent for the current fiscal and in the subsequent years under PTI rule
  • The foreign currency reserves held by the SBP falling by USD$265mn to US$6.6bn
  • Commercial Banks were the best performers this week as they added 559 points to the index. They were followed by Oil & Gas Exploration, Fertilizer and Automobile Assemblers, which added 297 points, cumulatively
  • Foreigners net buying for the week was US$17mn (The Largest Since Week End 13-April, 2018) vs. net selling of US$9.42mn in the previous week. Among local investors’, Individuals, Mutual Funds and Banks were net sellers of US$14.2mn, cumulatively
  • Cherat Cement Company Ltd (CHCC) in a notice to the exchange announced that it has successfully installed and commissioned the third line of cement manufacturing, having production of 6,700 tons per day of clinker, along with waste heat recovery plant at its existing location in Nowshera, Khyber Pakhtunkhwa Province. With this expansion the cement production capacity of the company has increased to more than 4.5mn tons per annum
  • Honda Atlas Cars Pakistan (HCAR) has found itself in a tricky spot following government’s decision to allow non-filers to purchase 1,300cc vehicles since it only manufactures vehicles of and above 1,339cc
  • The State Bank of Pakistan (SBP) received US$1bn from the UAE following an agreement with the Abu Dhabi Fund for Development (ADFD) in Abu Dhabi on Jan 22
  • The total liquid foreign reserves held by the country was recoded at US$13.3bn on January 18, as foreign reserves held by the State Bank of Pakistan was stood at US$6.6bn and net foreign reserves held by commercial banks was registered at US$6.6bn
  • Pakistan has received third tranche of US$1bn from Saudi Arabia, State Bank of Pakistan has confirmed

Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 109.02
Target Price: PKR 118.5

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 109.7
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 2 3.4
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 421.01
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 48.54
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 4 8.7
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 3.2
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 68.87
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 83.32
Target Price: PKR 105.00

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 336.38
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 7 3.7
Target Price: PKR 91.0

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.44
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 43.57
Target Price: PKR 43.5

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 106.58
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.21
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 151.95
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 149.28
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 92.54
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,207.18
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 4 9.6
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 8 4.3
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 6.6
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 465.19
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,335.5
Target Price: PKR  1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   205.0
Target Price: PKR 224.73

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 44.25
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 830.7
Target Price: PKR  1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 47.52
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 5 6.2
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 2 2.5
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 140.0
Target Price: PKR 158

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 2 5.1
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 148.26
Target Price: PKR 190

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 43.64
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 472.6
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 184.66
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 245.72
Target Price: PKR 244.87

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 233.46
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 84.1
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 153.1
Target Price: PKR 154.60

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 19 January, 2019

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

Top gainers of last week were: PPL, PSMC, NCL, EFOODS, FFC, ENGRO, OGDC, HCAR, FFBL, PAKT, and TRG.

Top losers of last week were: APL, PIOC, MARI, POL, CHCC, BAHL, DOL, SEARL, MTL, and DGKC.

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

The Pakistan Stock Exchange (PSX) market index closed in the green this week, for the third consecutive week. KSE-100 index closed on 39,307 by gaining 258 points or 0.66 %, while KSE-30 index closed on 18,757 by gaining 142 points or 0.76 %.

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


  • The visit of Abu Dhabi Crown Prince put stamp on a US$6bn package for Pakistan including a US$3bn deferred oil facility which caused an adrenaline rush as the market increased
  • Upward movement in oil, WTI increased by ~8.7% during the week, provided support to the oil stocks
  • The PTI-led government deciding to slap additional taxes for the purpose of achieving import compression and enhance revenue base
  • Government notifying ban on import of furnace oil asking refineries to enter into contracts with IPPs for furnace oil sales
  • Trading volumes for the week increased by 29.7%WoW as market activity was led by Mutual funds (net buy US$6.72mn) where insurance companies continued to offload their equity portfolio (net sell US$3.12mn)
  • The government is planning to introduce a mini-budget in a bid to meet the revenue requirement likely to be announced in the latter part of next week
  • The average daily traded volumes for the week were 140mn, up 18% WoW and average daily traded value for the week was US$46mn, up 12% WoW
  • Millat Tractors Ltd (MTL) in a notice to the exchange announced it has extended its current plant shutdown for another week. Production shall resume from Monday, 21 January 2019
  • The Drug Regulatory Authority of Pakistan (DRAP), with the approval of the federal government, announced up to 15% hike in the prices of medicines, apart from life-saving drugs
  • Moody’s said Pakistan’s ability to refinance its foreign debt and fund its growing deficits is at stake given low foreign exchange reserves and gross borrowing requirements
  • Remittances from overseas Pakistanis jumped 10% to US$10.72bn during the first six months of this fiscal year as compared to US$9.744bn in same period last year, reported the State Bank of Pakistan
  • Gas supplies to industrial, fertilizer and power sectors was restored after the Sui Northern Gas Pipelines Limited teams repaired damaged portion of the 36 inch diameter pipeline at Bhong, near Sadiqabad (Rahim Yar Khan), about 650km away
  • More than RS9bn have so far been collected for construction of dams with 13% being foreign currency component having been transmitted by overseas Pakistanis


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 108.0
Target Price: PKR 118.5

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 111.6
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 23.7
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 4 35.8
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 48.31
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 47.4
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.8
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 68.83
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 82.11
Target Price: PKR 105.00

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 327.81
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 74.9
Target Price: PKR 91.0

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.88
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 42.86
Target Price: PKR 43.5

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 104.99
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.58
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 153.18
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 134.1
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 89.34
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,189.80
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 49.0
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 84.3
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.9
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 463.44
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,325.1
Target Price: PKR  1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   195.79
Target Price: PKR 224.73

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 43.24
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 751.8
Target Price: PKR  1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 46.27
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 54.8
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 22.0
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 138.3
Target Price: PKR 158

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 25.9
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 145.15
Target Price: PKR 190

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

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 468.6
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 178.05
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 198.43
Target Price: PKR 244.87

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 235.16
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 84.31
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.28
Target Price: PKR 154.60

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 12 January, 2019

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, NCL, NCPL, NML, NPL, OGDC, PIOC, POL, PPL, PSMC, PSO, SNGP and UBL.

Top gainers of last week were: PPL, POL, FFBL, GWLC, FFC, HBL, and OGDC.

Top losers of last week were: KAPCO, PAKT, PSEL, COLG, HMB, KAPCO, CHCC, APL, PIOC, and PTC.

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

The Pakistan Stock Exchange (PSX) market index propelled during the week because of visit of Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al-Nahyan, report released by Fitch stating that SBP can keep rates at 10% for the rest of FY19, and FATF showing satisfaction over the steps taken by Pakistan to avoid black-list which proved to be a breath of fresh air against the negative developments over the issue in last 6-8 months. KSE-100 index closed on 39,049 by gaining 1502 points or 4.00 %, while KSE-30 index closed on 18,615 by gaining 1020 points or 5.80 %.

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


  • The visit of Abu Dhabi Crown Prince put stamp on a US$6bn package for Pakistan including a US$3bn deferred oil facility which caused an adrenaline rush as the market increased
  • Upward movement in oil, WTI increased by ~8.7% during the week, provided support to the oil stocks
  • The PTI-led government deciding to slap additional taxes for the purpose of achieving import compression and enhance revenue base
  • Government notifying ban on import of furnace oil asking refineries to enter into contracts with IPPs for furnace oil sales
  • Trading volumes for the week increased by 29.7%WoW as market activity was led by Mutual funds (net buy US$6.72mn) where insurance companies continued to offload their equity portfolio (net sell US$3.12mn)
  • The government is planning to introduce a mini-budget in a bid to meet the revenue requirement likely to be announced in the latter part of next week
  • The average daily traded volumes for the week were 140mn, up 18% WoW and average daily traded value for the week was US$46mn, up 12% WoW
  • Millat Tractors Ltd (MTL) in a notice to the exchange announced it has extended its current plant shutdown for another week. Production shall resume from Monday, 21 January 2019
  • The Drug Regulatory Authority of Pakistan (DRAP), with the approval of the federal government, announced up to 15% hike in the prices of medicines, apart from life-saving drugs
  • Moody’s said Pakistan’s ability to refinance its foreign debt and fund its growing deficits is at stake given low foreign exchange reserves and gross borrowing requirements
  • Remittances from overseas Pakistanis jumped 10% to US$10.72bn during the first six months of this fiscal year as compared to US$9.744bn in same period last year, reported the State Bank of Pakistan
  • Gas supplies to industrial, fertilizer and power sectors was restored after the Sui Northern Gas Pipelines Limited teams repaired damaged portion of the 36 inch diameter pipeline at Bhong, near Sadiqabad (Rahim Yar Khan), about 650km away
  • More than RS9bn have so far been collected for construction of dams with 13% being foreign currency component having been transmitted by overseas Pakistanis


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 109.1
Target Price: PKR 118.5

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 108.2
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 2 3.7
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 445.0
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 49.08
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 4 7.4
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 2.6
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 71.74
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 83.89
Target Price: PKR 105.00

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 321.3
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 7 5.7
Target Price: PKR 91.0

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.70
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 3 9.8
Target Price: PKR 43.5

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 101.1
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.83
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 150.27
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 132.9
Target Price: PKR 143.25

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 176.6
Target Price: PKR 206

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 88.79
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,197.47
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 4 8.2
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 8 4.9
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 7.6
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 458.65
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,362.6
Target Price: PKR  1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   194.6
Target Price: PKR 224.73

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 44.13
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 795.1
Target Price: PKR  1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 44.99
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 5 1.6
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 2 2.5
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 137.34
Target Price: PKR 158

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 2 5.7
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 142.40
Target Price: PKR 190

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 45.32
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 482.2
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 171.88
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 186.41
Target Price: PKR 244.87

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 235.4
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 8 4.1
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 137.9
Target Price: PKR 154.60

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 6 January, 2019

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, NCL, NML, OGDC, PAEL, PIOC, POL, PPL, PSMC, PSO, SNGP, and UBL.

Top gainers of last week were: BAFL, BAHL, CHCC, ENGRO, PIOC, POL, and HBL.

Top losers of last week were: MTL, NESTLE, LUCK, ATRL, DAWH, FATIMA, HASCOL, EFOODS, FFBL, and NCL.
.
Top Volume Leaders of last week:  TRG, PAEL, KEL, SILK, and BOP.

The Pakistan Stock Exchange (PSX) market index had a turbulent first week of the new year, with the wild intra-day moves. KSE-100 index closed on 37,547 by gaining 380 points or 1.02 %, while KSE-30 index closed on 17,595 by gaining 321 points or 1.86 %.

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


  • Trading activity remained largely subdued with average daily trading volumes further declining to 106.95mn shares, down 3.1%WoW
  • Sector‐wise Commercial Banks, Oil & Gas Exploration Companies and Fertilizer were the best performing sectors as they added 471 points, cumulatively
  • Finance Minister Asad Umer hinting towards another fiscal adjustment, with likely announcement of mini-budget in mid Jan’19
  • The government officials reportedly announcing that the Chinese government agreed to lend US$2bn to Pakistan for helping it boost dwindling foreign exchange reserves
  • Markedly below consensus expectations, monthly inflation reading for Dec’18 clocking in at 6.17%YoY compared to 6.5%YoY in Nov’18 and 4.57%YoY in Dec’17
  • US President Donald Trump hinting towards a better relationship with Pakistan, eyeing meet-up with Pakistani leadership
  • FX reserves held by central bank further dwindling US$170mn to reach at US$7.28bn during the week ended Dec 28’18
  • Foreigners remained net sellers, offloading US$0.51mn worth of equities, compared to US$1.1mn outflow in the previous week
  • Ongoing graft hearings in the apex court against the main opposition leaders could lead to limited investors’ participation
  • Reserves held by the State Bank of Pakistan decreased by US$170mn to US$7.29bn on account of external debt servicing and other official payments during the week ended on Dec 28
  • The government has jacked up the price of indigenous liquefied petroleum gas (LPG) by Rs2/kg or Rs22.92/11.8kg for the month of January 2019, which translates into an increase of 1.71% over the previous month
  • Pakistan LNG is seeking five liquefied natural gas (LNG) cargoes for delivery over March to April, a tender document showed
  • A consistent fall in cotton cultivation area for the last seven years has eventually reduced crop production to little over 10 million bales this year from the bumper crop of 15m bales in 2011‐12
  • Opec oil supply fell in December by the largest amount in almost two years, as top exporter Saudi Arabia made an early start to a supply‐limiting accord while Iran and Libya posted involuntary declines
  • Foreign exchange firms provided US$13bn to the government through commercial banks over the last nine years to stabilize the currency market, an official said
  • Prime Minister Imran Khan met with a delegation of the Turkey‐Pakistan Business Council of the Foreign Economic Relations Board of Turkey
  • Gold prices scaled a more than six‐month peak as fears of a global economic slowdown embellished safe‐haven demand for bullion, with a weaker dollar adding further support
  • Prime Minister Imran Khan invited Turkish businessmen and investors to invest in various fields and industries in Pakistan, including construction, tourism and exploration of natural resources


Following are few BUY recommendations:

Allied Bank Limited (ABL) – BUY 
Current Price: PKR 107
Target Price: PKR 118.5

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 106.11
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 23.49
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 445.05
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 46.93
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 45.86
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.06
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 71.75
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 82.20
Target Price: PKR 105.00

Engro Corporation (ENGRO) – BUY 
Current Price: PKR 313.56
Target Price: PKR 348.84

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 72.02
Target Price: PKR 91.0

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 34.18
Target Price: PKR 45.1

Fauji Fertilizer Bin Qasim Ltd. (FFBL) – BUY 
Current Price: PKR 35.82
Target Price: PKR 43.5

Fauji Fertilizer Co. (FFC) – BUY 
Current Price: PKR 93.01
Target Price: PKR 111.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 15.28
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 143.59
Target Price: PKR 317.69

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 125.41
Target Price: PKR 143.25

Honda Atlas Cars (HCAR) – BUY 
Current Price: PKR 176.68
Target Price: PKR 206

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 85.60
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,181.57
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 52.80
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 83.53
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 17.27
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 441.71
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1300.85
Target Price: PKR  1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   187.98
Target Price: PKR 224.73

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 42.75
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 787.95
Target Price: PKR  1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 42.58
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 48.98
Target Price: PKR 67.7

Nishat Mills (NML) – BUY 
Current Price: PKR 134.59
Target Price: PKR 158

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 130.18
Target Price: PKR 193

Pak Elecktron Limited (PAEL) – BUY 
Current Price: PKR 24.41
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 45.24
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 430.09
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 150.08
Target Price: PKR 239

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 181.23
Target Price: PKR 244.87

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 227.40
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 75.38
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 131.39
Target Price: PKR 154.60

Thank you very much for reading this article.

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Written by: Rana Khuram