Pakistan Stock Exchange (PSX) Weekly Analysis 7 April, 2019

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

Top gainers of last week were:  JLICL, EPCL, FCCL, NBP, AKBL, POL, OGDC, ABL, PIOC, and HUBC.

Top losers of last week were: NRL, SYS, ISL, GHGL, CHCC, ASTL, PSMC, HASCOL, FATIMA, and KAPCO.

Top Volume Leaders of last week:  WTL, KEL, MLCF, UNITY, and BOP.

The Pakistan Stock Exchange (PSX) market index posted 16-week highest loss, losing 2.92% WoW, with four sessions in red and one in green. KSE-100 index closed on 37,522 by losing 1127 points or -2.92%, while KSE-30 index closed on 17,735 by losing 524 or - 2.87%.

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


  • News flows of concern was a consistently pressured PkR, which slipped 0.2%WoW against the US$, fueling concerns over continued inflationary headwinds to disposable incomes and consumer demand
  • Pakistan's foreign exchange reserves rose to $17.3bn in the week ended March 29 from $15.5bn in the previous week
  • Local cement dispatches during the first 9MFY19 declined by 6%YoY to 29.45mn tonnes down from 31.31mn tonnes during the same period last year, while exports increased to 5.13m tonnes during the same period from 3.44mn tonnes
  • The OGRA has increased wellhead gas price up to 34.9% for 22 gas fields with effect from January 2019
  • Pakistan will continue to face macroeconomic challenges leading to a downgrade in the country's GDP is forecast to 3.9% for FY19, says the ADB
  • FBR is eyeing PkR300bn in revenue under the proposed tax amnesty scheme as it has advised the government to keep concessional tax rates on the assets to be declared higher, as the government mulls another tax amnesty scheme for foreign and domestic undeclared assets 
  • Average daily turnover fell 7.5%WoW to rest at US$118.7mn
  • Consequently, upcoming results season is likely to be significantly tamed in the run-up to Ramzan, with investors hunkering down and the current flight to blue-chip/mainboard stocks remaining in full-swing
  • During the outgoing week, a new stock Interloop limited (ILP) was listed on PSX and emerged as a volume leader with traded volume of 14.32mn shares during its first trading session. Unlike last two IPOs PREMA and AGP, ILP failed to maintain legacy of last two IPO stocks, who closed to their upper limits on first trading session, while ILP lost Rs0.35 per share or 1% in its value
  • During the week, foreigners were net sellers of US$3.7mn vs. net buying of US$0.5mn in last week. While, among local investors, during the week Banks were net buyers of US$4.7mn While mutual funds were net sellers of US$3.2mn
  • Pakistan faces a delay in going ahead with a bailout package of $3.2bn on account of a deferred oil and gas payment facility offered by Saudi Arabia as the latter wants the deal on its own terms
  • The cement sector continued to suffer from a lack of domestic demand due to slowdown in economic growth, lower development spending and delay in the launch of government’s low-cost housing scheme
  • The massive increase in prices of medicines has been challenged before the Lahore High Court for being made in violation of a notification of the Drug Regulatory Authority of Pakistan (DRAP)
  • The government is planning to amend Foreign Exchange Regulations Act (Fera) 1947 to regulate outflow of funds through foreign currency accounts and local transportation of foreign exchange through greater clarity to the legal system
  • The National Price Monitoring Committee (NPMC) has reported that a recent spike in the prices of perishable goods was primarily due to seasonal variations, the impact of which is now subsiding
  • At a time when the government is busy in preparing a tax amnesty scheme, the Federal Board of Revenue (FBR) has picked as many as 14,154 cases of income tax, sales tax and federal excise duty (FED) for audit through an electronic balloting

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 8 9.89
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.65
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 389.02
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 36.27
Target Price: PKR 80.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 83.15
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 4 4.87
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.93
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 58.82
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 83.03
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 71.08
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 64.81
Target Price: PKR 80.87

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 33.16
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 32.93
Target Price: PKR 43.5

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 13.00
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 113.05
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 124.65
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 72.91
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,281.20
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 42.09
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 84.84
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 14.07
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 418.15
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,204.71
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   191.39
Target Price: PKR 224

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 36.05
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 879.88
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 39.15
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 49.74
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 20.00
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 128.65
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 25.00
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 147.77
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.23
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 34.70
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 452.92
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 180.05
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 203.53
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 70.93
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 132.72
Target Price: PKR 154.60

Thank you very much for reading this article.

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Written by: Rana Khuram

1 comment:

  1. Thanks for writing this, I will surely refer this to other people, do write more about Investments in Pakistan & Mutual funds in Pakistan.

    ReplyDelete