Pakistan Stock Exchange (PSX) Weekly Analysis 10 February, 2019

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

Top gainers of last week were:  FFC, LUCK, DGKC, FCCL, CHCC, MLCF, INDU, and SEARL.

Top losers of last week were: HASCOL, HBL, UBL, PSO, EFOODS, DAWH, PPL, and OGDC.

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

The Pakistan Stock Exchange (PSX) market index ended its 5 consecutive‐week close in the green during which it gained 11% Investors’ resorted to profit‐taking due to lack of any triggers as well as poor corporate results. Resultantly, the benchmark Index lost 225 points (or ‐0.55%), closing at 40,887 Level. KSE-100 index closed on 40,887 by losing 226 points or - 0.55%, while KSE-30 index closed on 19,599  by losing 139 points or 0.71%.

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


  • Sector‐wise Commercial Banks, Oil & Gas Exploration sector and Tobacco were the worst performers as they ate away 265 points, cumulatively
  • Government officials reportedly hinting towards another financing support of US$2.5bn from China, aimed at boosting FX reserves
  • With international Coal Prices falling during the week investors’ remained heavily focused on Cements as the sector added 42 points to the index
  • Foreigners were net buyers during the week of US$12.17 mn vs. US$12.3 mn in the previous week. While on the local investors’ side, Mutual Funds were net sellers of US$22.6mn, cumulatively
  • The State Bank of Pakistan’s (SBP) total liquid foreign exchange reserves increased to US$8.2bn as of Feb 1, up by US$38.2mn, according to latest data released by the central bank
  • Commercial production of three Nissan models will begin in the second half of 2020. “We will begin with the assembly of a 1,200cc Datsun Cross in July 2020 and then roll out the 1,200cc Datsun Go (five seater) and Datsun Go Plus (seven seater) in the next two to three months,” Ghandhara Nissan Ltd (GNL) Project Director and Senior Executive Director Marketing and Sales Muazzam Pervez Khan told a news outlet 
  • The government will present an alternative formula to the Supreme Court for revival of taxes on mobile phone cards to bridge the revenue shortfall and meet budgetary target instead of imposing any new taxes in the next five months
  • International credit rating agency Standard & Poor’s downgrading Pakistan’s long-term credit rating to ‘B-Negative’ from ‘B’, citing fragile external position and weak growth outlook
  • Pakistan and Russia inking an inter-corporate agreement for the laying of more than 1,500 km offshore gas pipeline costing US$10bn
  • Total cement dispatches declining by 10.7%YoY to 3.6mn ton in Jan’18, with a more pronounced decline in local offtake (down 18%YoY)
  • Country’s FX reserves marginally moving up 0.56% WoW (+US$83mn) to US$14.88bn during the week ended Feb 01’19, with reserves held by the central bank rising to US$8.19bn (+38mn)

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 113.27
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 23.77
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 442.00
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 53.46
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 49.19
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 13.56
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 72.62
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 92.94
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 76.27
Target Price: PKR 91.0

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33.85
Target Price: PKR 45.1

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 17.04
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 161.19
Target Price: PKR 234.57

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 92.66
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,300.06
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 50.74
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 87.85
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 17.25
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 491.18
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,289.27
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   206.83
Target Price: PKR 224.73

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 46.81
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 908.82
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 46.55
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 56.73
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 23.58
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 143.36
Target Price: PKR 158

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 26.00
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 147.40
Target Price: PKR 190

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 45.21
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 468.55
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 187.92
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 239.30
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 84.86
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 152.09
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

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