Pakistan Stock Exchange (PSX) Weekly Analysis 27 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, LUCK, FFC, PSO, and POL.

Top losers of last week were: ICL, PPL, NESTLE, MTL, and NATF.

Top Volume Leaders of last week:  Cement, Banks, Technology and Power sectors.

The Pakistan Stock Exchange (PSX) market index depicted largest weekly gain of 7.65% or 2,537pts after a decade, where last highest gain was 9.1% in first week of Apr 2009. The benchmark KSE-100 Index successfully closed in green and cumulatively gained 2,537 (7.64% up) in a week to settle at 35,703 levels.

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


  • The market rebounded on the announcement for the creation of the PSX support fund worth Rs. 17.2 Bn. During the week, the SBP increased the policy rate by 150 BPS to 12.25%
  • Investors confidence revived on the news that Saudi Arabia will give $3.2 Bn oil on deferred payment
  • Average Traded volume also improved by 66% WoW basis to 178.34 Mn shares
  • The Fertilizer, Banking, Cement, E&P and OMC were the major positive contributors which added 1,878 points to the Index
  • The Foreigners, Individuals, NBFC and Companies were the net buyers worth Rs. 12.69 Mn collectively. While the Mutual Funds and Insurance were the net sellers worth Rs. 11.65 Mn
  • The Cement, Banks, Technology and Power sectors were the volume leaders
  • Pakistan's Forex Reserves decreased by USD 767.90 Mn and the total liquid foreign reserves were USD 15,126.50 Mn on May 17
  • Government decides to end subsidy to zero-rated industry in the upcoming budget
  • SBP jacks up interest rate by 150bps to 12.25%
  • Urea off take narrows by 22 percent in April 2019
  • Pakistan likely to get name removed from FATF's grey list
  • Fertilizer sector remained among one of the top contributor to index with 524pts, where 268pts were contributed by ENGRO and DAWH cumulatively. Other than fertilizer, Banks added 494pts to sector gain amid above expected interest rate hike in last monetary policy meeting by 150bps
  • In a notice to exchange, UBL has informed that consequent upon the liquidation of “NY Branch", in an orderly manner, the Federal Reserve Bank of New York ("FRBNY") has informed that the Written Agreement dated 02 July 2018 (WA-2018), signed by and among the FRBNY, UBL and NY Branch has been terminated 
  • In a notice to exchange, AVN intends and approve the demerge “after market Support” from Avanceon Ltd. to Octopus Digital Pvt Ltd. As a consequence of this demerger activity Rs80mn ordinary shares of nominal value of Rs10 each of Octopus Digital Pvt Ltd will be issued to Avanceon Ltd 
  • The foreign exchange reserves held by State Bank of Pakistan declined by US$788mn to US$8.057bn due to external debt servicing and other official payments
  • The government has envisaged the fiscal deficit target at 6% of GDP with primary deficit minus debt servicing at 0.6% for what the analysts called the hard-hitting budget of the next 2019/20 fiscal year ahead of an IMF US$6bn bailout program
  • Foreign Minister in Islamabad assured his visiting Iranian counterpart, Javad Zarif, of Pakistan's continued efforts towards reducing tension in the region


Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 87.22
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 22.45
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 298.07
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 25.01
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 82.79
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 46.69
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 11.39
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 34.96
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 62.05
Target Price: PKR 105

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 69.41
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 54.51
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 281.71
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 26.56
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 20.29
Target Price: PKR 35.73

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 17.74
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 11.75
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 75.68
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 126.74
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 78.55
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 1,202
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 40.07
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 55.94
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 404.99
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1101.67
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   175.14
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 87.87
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 24.13
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 825.04
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 41.24
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 41.00
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 19.38
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 114.22
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.90
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 138.29
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 21.70
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 24.57
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 439.71
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 162.78
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 195.32
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 72.18
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 154.45
Target Price: PKR 154.60

Thank you very much for reading this article.

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Written by: Rana Khuram

1 comment:

  1. Sir Hascol k barain main kia kahain gain kia ye 230 tak jaye ga aur kab tak

    ReplyDelete