Pakistan Stock Exchange (PSX) Weekly Analysis 9 March, 2019

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

Top gainers of last week were:  PSMC, INDU, KAPCO, HBL, and HASCOL.

Top losers of last week were: ASTL, OGDC, HUBC, PIOC, and MCB.

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

The Pakistan Stock Exchange (PSX) market index finished 1.5% lower for the week to close at 38,950pts, marking the 4th consecutive week of negative close. KSE-100 index closed on 38,950 by losing 589 points or  -1.49  %, while KSE-30 index closed on 18,580 by losing 442 points or -2.32%.

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


  • Market initially reacted positively to increase in foreigners’ holding limit in PSX to 20% (Previously: 10%) however it tiptoed downwards rest of the week
  • Easing of border tensions with the neighboring country that concerned the market heading this week
  • Power Sukuk issuance of PkR200bn
  • Government acting upon banned organizations (Positive from the perspective of FATF negotiations)
  • Passing of second mini-budget, failed to generate investors’ interest in equities
  • Fundamentals that took backseat in the previous week came to haunt investor sentiments this week with disappointing Cement and OMC sales (down 19.8%YoY and 28%YoY in Feb’19 respectively)
  • Participation continues to remain dull with avg. volumes for the week standing at 114.2mn shares vs. 152.4mn shares the previous week where major participation is witnessed in BOP, due to above expectation dividend of PkR0.75/sh
  • Mutual funds continued to remain net sellers (US$10.6mn) which was absorbed by Individual and Companies with net buys of US$5.1mn and US$3.5mn respectively
  • Foreigners also trimmed their position by US$3.4mn. Sector performance can be tagged to second mini-budget announcement with Automobile assemblers leading with +5%WoW (on removal of non-filer ban) where heavy-weights witnessed shrinking market capitalization

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 98.11
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 21.10
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 417.00
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 41.08
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 46.62
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 13.86
Target Price: PKR 18.3

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 89.67
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 73.99
Target Price: PKR 91.0

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 15.50
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 142.26
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 135.98
Target Price: PKR 155.2

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 83.27
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,390.50
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 46.02
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 87.26
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 14.78
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 459.95
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,298.32
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   196.42
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 40.84
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 811.12
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 42.36
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 52.16
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 22.80
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 137.98
Target Price: PKR 166

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.00
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 145.08
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 470.39
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 178.10
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 221.26
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 73.59
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 137.44
Target Price: PKR 170.8

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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