Pakistan Stock Exchange (PSX) Weekly Analysis 12 May, 2019

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

Top gainers of last week were:  ENGRO, BAFL, HBL, PAEL, MEBL, BIPLS, SASNL, DKL, ILTM and DFSM.

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

Top Volume Leaders of last week:  KEL, MLCF, SNGP, BOP, UNITY, PPVC, CPAL, MTL, GRYL, and DWTM.

The Pakistan Stock Exchange (PSX) market index closed its sixth consecutive week on negative note. KSE-100 index closed on 34,717 by losing -1406 points or - 3.89 %, while KSE-30 index closed on 16,387 by losing -690 points or - 4.05 %.

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


  • Concerns of further interest rate hikes, depreciation of the PKR and fiscal consolidation measures (revision in energy prices, withdrawal of subsidies/tax concessions etc) kept the investment sentiment negative
  • Average traded volume were down by 30% to 73mn shares due to less trading hours amid Ramadan
  • Foreigners remained net buyers of US$9.5mn. While on local front mutual funds and insurance companies were net seller of US$10mn and US$3.86mn respectively
  • ICI Pakistan announced commissioning of its Master batches Plant
  • Asia Steel announced commissioning its Galvanizing Line (CGL) after completion of trial operations
  • The reserves held by the SBP rose by US$179mn to US$8.984bn due to official inflows
  • The country’s economic growth rate has slowed down to 3.3%, the lowest in nine years in the first year of Prime Minister Imran Khan’s government, which missed its targets set for all major sectors of the economy
  • The Federal Government has finally appointed Shabbar Zaidi Chairman Federal Board of Revenue (FBR)/Secretary Revenue Division for two years through a separate summary moved to the cabinet "through circulation" on pro-bono basis, mainly to dispense the condition of advertisement and fear of contempt of court 
  • The finance division formally announced Dr Reza Baqir of the International Monetary Fund (IMF) has been appointed governor of the State Bank of Pakistan (SBP) to serve for a three-year term
  • Government of Pakistan increased General Sales Tax (GST) and Petroleum Development Levy (PDL) rates for different products for May 2019
  • Based on news report, plans to announce the federal budget on May 22, according to a communication received at the tax bureaucracy last week have been delayed to June 11
  • Provisional GDP growth data shows that the economy is growing at a subdued 3.3 per cent growth rate, significantly short of 6.2pc growth target for the year 2018-19
  • Total foreign exchange reserves jumped by $230 million to $15.972 billion during the week ended on May 3
  • Coal-fired power project’s receivables swell to $150mln


Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 86.0
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 20.0
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 327.11
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 26.63
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 79.91
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.55
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.7
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 40.25
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 72
Target Price: PKR 105

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 65.23
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 54.08
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 266.09
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 25.7
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 25.03
Target Price: PKR 35.73

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 17.3
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 11.24
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 78.12
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 123.81
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 70.02
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,230
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 39.0
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 63.7
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.0
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 384.62
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   986.0
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   179.54
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 94.03
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 24.29
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 882.3
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 38.86
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 42.46
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.4
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 114.70
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 23.3
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 136.14
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.7
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 23.61
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 385.2
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 156.38
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 174.68
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 69.8
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 145.37
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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