Pakistan Stock Exchange (PSX) Weekly Analysis 21 April, 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:  FFC, UBL, PPL, PAEL, HUBC, SNGP, NRL, NESTLE, PSMC, FCCL, HBL and MCB.

Top losers of last week were: LUCK, PSO, BOP, ISL, PMPK, BAHL, HMB, GWLC, PAKT, PIOC, HASCOL, and CHCC.

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

The Pakistan Stock Exchange (PSX) market index remain volatile throughout the week due to the series of event. KSE-100 index closed on 37,292 by losing -46 points or - 0.12 %, while KSE-30 index closed on 17,739 by gaining 88 or 0. 50 %.

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


  • On the political front, the PM announced major Cabinet Reshuffling. Finance Minister Asad Umar has stepped down from his Ministry, Dr. Hafeez Sheikh appointed Advisor on Finance after a major reshuffle in Federal Cabinet
  • Trading volume also increased by 27.7% WoW to 175.44 million shares. The Mutual funds and Foreigners were the net sellers, worth 7.10 Mn collectively. While the Banks, Companies and Individuals were net buyers, worth 7.79 Mn collectively
  • The SBP drafted a proposal to introduce Treasury Single Account (TSA) that created a havoc among the banking sector which lately clarified by the SBP that it won’t take any steps without the discussion and consultation from the stakeholders 
  • During last weekend, successful negotiations held with International Monetary Fund (IMF) in USA, as per former FM Asad Umar, which initially created some activity in the market
  • The E&P, Fertilizers, Auto and Power sectors were the positive contributors which added 148 points to the Index. While the Cement, Engineering, Pharmaceutical and Banking sectors were the major laggards that dragged down the Index by 105 points 
  • Prime Minister Imran Khan launched landmark Naya Pakistan Apna Ghar Housing Scheme
  • Engro Corporation to acquire 100% control of Engro FZE
  • OGRA has said that prices of gas are likely to be surged by 75% to 80% in the next fiscal year
  • Mari Petroleum company Limited (MPCL) notified the exchange that MPCL along with its Joint venture Partner Pakistan Petroleum Limited (PPL) has made an oil discovery at exploratory well Dharian-1 ST-3 near Rawalpindi which is 2nd consecutive discovery by Ghauri Joint venture in Ghauri Block
  • Pakistan’s textile exports were recorded at US$9.99bn during nine months (July to March) of the ongoing fiscal year. The country’s textile exports had remained at the same level of previous year, showing no growth

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 87.94
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 19.81
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 368.43
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 35.92
Target Price: PKR 80.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 82.22
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 44.45
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.61
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 41.61
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 73.79
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 70.83
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 61.56
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 318.70
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 33.30
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 32.27
Target Price: PKR 43.5

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 17.65
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.05
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 91.62
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 127.10
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 76.00
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,302
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 41.74
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 76.45
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.08
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 388.22
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,178.96
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   192.27
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 94.44
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 29.75
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 893.63
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 40.31
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 46.75
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 18.20
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 125.99
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.30
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.59
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 22.96
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 25.59
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 444.16
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 180.22
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 207.33
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 77.29
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.87
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

Pakistan Stock Exchange (PSX) Weekly Analysis 13 April, 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:  HUBC, PSO, NESTLE, FABL, HBL, NBP, INDU, and UBL.

Top losers of last week were: CHCC, LUCK, DGKC, PPL, PIOC, MLCF, HASCOL, and FCCL.

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

The Pakistan Stock Exchange (PSX) market index remained volatile and market performance during the outgoing week remained under pressure, where KSE-100 index troughed at 36,579 points mid-week, lowest level since PTI’s government came to power. KSE-100 index closed on 37,338 by losing -184 points or - 0.49%, while KSE-30 index closed on 17,651 by losing 84 or - 0.47 %.

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


  • The market rumor of a potential price war in cement sector led to a further drag on the market performance
  • Pakistan, IMF at odds over PkR5.4tn tax collection target vs. 4.0tn collected in FY18
  • IMF’s forecast for Pakistan’s GDP growth rate to remain at 2.5% till 2024, and fiscal deficit to peak at 8.7% of GDP in FY20, without reforms
  • Government mulling over a gas price hike of 20-42%, effective Jul’19 to reduce losses incurred by gas companies in the outgoing financial year
  • Trade deficit declining by 14% in 9MFY19 due to sharp currency devaluation since Dec’18
  • Flattish exports during 9MFY19, posting an especially bad performance during Mar’19 (down 11% YoY)
  • Autos sales, which remained flattish at 160K units during 9MFY19, with cars of 800cc and below did exceptionally well due to removal of non-filer ban in Mar’19
  • The market during upcoming week is expected to be dominated by further news flow regarding development on IMF program, announcement of another Amnesty scheme and submission of FATF’s third implementation report on 15th April
  • The result season has started on a weak note, with APL posting below expected results, and will continue to hold sway over market performance
  • During the week, foreigners were net sellers of US$2.2mn vs. net selling of US$3.7mn last week. While, among local investors, during the week banks were net buyers of US$4.0mn while mutual funds were net sellers of US$3.4mn
  • Attock Petroleum (APL) announced 3QFY19 earnings of Rs2.9, down 80% YoY driven by lower margins during the quarter. Gross Margins of APL declined to 1.8% in 3QFY9 vs. 5.4% in same period last year. Net sales of the company improved to Rs48.9bn in 3QFY19, +8% YoY. APL has announced interim cash dividend of Rs 10/share
  • As per media reports; Policy board has recommended to form a stock market support fund to boost investor confidence on Pakistan’s capital markets, especially at a time when Pakistan’s Emerging Market status will be under scrutiny in MSCI Date of fund launch and its size is yet to be confirmed
  • Prime Minister Imran Khan has said that the government was not only giving top priority to China Pakistan Economic Corridor (CPEC) project but wanted to further expand its scope so that other countries could also become part of the gigantic project and a new era of progress and prosperity started in the region
  • The government has disbursed about Rs449 bn for development program on completion of first three quarters of 2018-19, down 26%, from Rs607bn in same period last year
  • The total liquid foreign reserves held by the country stood at US$17.2bn as on April 5, down by US$169mn. As per figures, foreign reserves held by the SBP stood at US$10.3bn whereas the net foreign reserves held by commercial banks were recorded at 6.9 bn

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 8 6.1
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 2 0.2
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 381.14
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 36.47
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 44.64
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 3.6
Target Price: PKR 18.3

Cherat Cement Co Limited (CHCC) – BUY 
Current Price: PKR 49.19
Target Price: PKR 71.00

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 75.37
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 7 1.4
Target Price: PKR 91.0

Engro Foods (EFOODS) – BUY 
Current Price: PKR 62.68
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 319.7
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 3 3.8
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 3 2.5
Target Price: PKR 43.5

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 1 7.2
Target Price: PKR 25.3

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 12.56
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 99.67
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 125.87
Target Price: PKR 143.25

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 77.12
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,306.85
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 4 1.7
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 7 7.5
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 5.1
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 396.05
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,199.9
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   189.29
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 96.14
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 30.97
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 885.4
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 40.74
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 47.55
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 1 8.6
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 126.19
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 2 3.2
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 144.43
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 21.89
Target Price: PKR 28.20

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 29.29
Target Price: PKR 46.0

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 445.3
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 177.03
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 212.94
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 7 2.6
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.

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

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.

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

Pakistan Stock Exchange (PSX) Weekly Analysis 31 March, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAFL, BOP, DGKC, EFERT, EPCL, FFBL, 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:  SNGP, MTL, BAHL, ENGRO, UBL, OGDC, DAWH, and MEBL.

Top losers of last week were: HBL, HUBCO, NESTLE, PSEL, POL, FFBL, PPL, NBP, and MLCF.

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

The Pakistan Stock Exchange (PSX) market index remained range bound throughout the week. The market gained some momentum during mid of the week owing to the news of discovery of oil fields in Pakistan. KSE-100 index closed on 38,649 by gaining 118 points or 0.3%.

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


  • The State bank raised the interest rate by 50 BPS to 10.75% for the next two months
  • The Rupee also depreciated in the interbank on Friday
  • Average Trading volume increased by 52.9% WoW to 127.9 mn shares
  • IMF bailout package likely by mid-May, says finance minister: Pakistan is likely to secure a bailout package from the International Monetary Fund (IMF) of between $6 billion and $12bn by the middle of May
  • Prime Minister Imran Khan has said that a major housing project will be launched next month to provide five million housing units to the low income segments of the society
  • The government is set to list another Islamic bond of Rs200 billion in the capital market in May to bring power sector circular debt down to Rs250 billion
  • The Fertilizer, OMC, Auto and Pharmaceutical sectors were the positive contributors and added 178 points to the Index. While Power, Cement and E&P sectors were the negative contributors and declined the Index by 67 points
  • During the week, the Mutual funds, Banks, Broker Proprietary and Foreigners were the net buyers worth 11.54 Mn collectively. While the Individuals and Companies were net sellers worth 10.46 Mn collectively
  • APG dissatisfied over Pakistan’s compliance with commitments
  • Nawaz Sharif freed on bail for six weeks on medical grounds
  • Power tariff to be gradually increased by over Rs2 per unit
  • Pakistan gets $2.2 Bncommercial loan from China
  • Oil and Gas Regulatory Authority (OGRA) has moved summary the Ministry of Petroleum Division to increase petroleum product prices from April 1. Sources said the summary forwarded to the Petroleum Division recommended Rs11.92 per litre increase in petrol price, diesel Rs11.17 per litre, Kerosene Oil Rs6.65 per litre 
  • Contrary to conventions, the Ministry of Industries and Production has removed Pakistan Steel Mills (PSM) chairman and held the board meeting against the proscribed rules
  • The Securities and Exchange Commission of Pakistan (SECP) has initiated legal proceedings to wind up at least nine companies offering crypto currencies and Ponzi schemes


Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 8 9.2
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 2 0.5
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 398.5
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 43.07
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 4 7.1
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 3.0
Target Price: PKR 18.3

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 8 5.4
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 7 1.6
Target Price: PKR 91.0

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 3 6.3
Target Price: PKR 46.3

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 3 4.2
Target Price: PKR 43.5

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 13.43
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 129.67
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 132.5
Target Price: PKR 155.2

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 7 3.3
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,304.90
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 4 5.3
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 8 5.8
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 4.2
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 428.2
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,245.2
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   196.5
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 3 7.5
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 895.1
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 4 0.1
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 5 1.7
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 2 1.8
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 134.6
Target Price: PKR 166

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 2 5.3
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 147.6
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 447.3
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 185
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 216.2
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 7 5.1
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.5
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

Pakistan Stock Exchange (PSX) Weekly Analysis 24 March, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAFL, BOP, DGKC, EFERT, FFBL, 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:  PPL, MCB, HBL, POL, and OGDC.

Top losers of last week were: HUBC, SEARL, MARI, PSMC, and NESTLE.

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

The Pakistan Stock Exchange (PSX) market index rebounded by 225 points WoW after going down for six consecutive weeks. KSE-100 index closed on 38,531.87 by gaining 225 points or 0.6%.

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


  • Market started on a positive note this week due to improved Current Account Deficit (CAD) numbers & some clarity on IMF bailout which led KSE-100 index to increase by ~545 points on Monday. Despite this positive news flow, political noise and lack of triggers kept the index under pressure for the next 3 trading sessions (index closed negative in 3 following sessions)
  • During the last trading session of this week, OGDC & PPL increased in range of 3-4% post statement by Prime Minister Imran Khan regarding expected Oil discovery in Kekra region
  • Pakistan has completed all procedural requirements with China for getting RMB 15 billion equivalent to $2.1 billion deposits for State Bank of Pakistan (SBP) in order to jack up foreign currency reserves at the effective rate of over 5 percent 
  • The total foreign exchange reserves of the country increased $743 million to $15.709 billion by the week ended March 15, 2019 from $14.966 billion a week ago
  • Commercial banks and E&Ps were the best performing sectors during the week, adding 278 points and 194 points to the index, respectively
  • Foreigners were net buyers of US$3.14mn vs. net selling of US$15.6mn in the last week. On the local investors’ side, Insurance Companies were net sellers of US$4.9mn
  • Pakgen Power Limited (PKGP) declared its annual result for 2018 posting an EPS of 1.51 vs. 0.84 in the same period last year, up by 80% YoY. Growth in profitability was achieved mainly due to significant increase in gross profit (GP) margin by 17ppts. PKGP has also announced a divided of Rs1.5/share for 4Q2018 
  • The Chinese government has finally offered Pakistan market access for three commodities — rice, sugar and yarn worth US$1bn for the current calendar year, as per official in the Commerce Division
  • Reserves held by the State Bank of Pakistan (SBP) jumped by US$715mn to US$8.8bn during the week ended on Mar 15, on account of US$1bn received from the UAE. Holdings of commercial banks also increased to US$6.87bn, hitting an all-time high
  • China will release US$2.1bn in commercial loan next week, as per top official of Ministry of Finance; An injection that will again push the gross official foreign currency reserves to double-digits after almost a year. Unlike past these loans are linked with Shanghai Interbank offered Rates instead of Libor making it an expensive transaction
  • China’s investment of over US$60bn in Pakistan’s infrastructure and power projects under the China-Pakistan Economic Corridor (CPEC) is expected to increase Pakistan’s economic growth by around 3.5 percentage points
  • US Dollar closed at an all time high level of Rs140.24. Dollar at inter bank raised by 75 paisa which in result adds more pressure on debt payment by Rs95bn
  • Malaysia and Pakistan signed Memoranda of Understanding (MoUs) for five "big projects", Finance Minister Asad Umar revealed during an informal discussion with journalists
  • An Islamabad accountability court summoned former president and co-chairperson of Pakistan People's Party Asif Ali Zardari, his sister Faryal Talpur, Hussain Lawai, Anwar Majeed and others, to appear in court on April 8 in the fake accounts case

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 89.99
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 20.36
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 393.96
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 40.40
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 47.59
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 13.08
Target Price: PKR 18.3

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 85.36
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 72.03
Target Price: PKR 91.0

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 35.53
Target Price: PKR 43.5

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 13.55
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 125.24
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 136.58
Target Price: PKR 155.2

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 76.06
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,301.06
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 44.27
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 86.74
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 13.74
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 429.82
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,243.37
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   196.98
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 38.74
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 831.04
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 40.78
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 51.66
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 22.92
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 133.20
Target Price: PKR 166

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.07
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 145.94
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 453.26
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 185.74
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 212.60
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 68.79
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 137.27
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

Pakistan Stock Exchange (PSX) Weekly Analysis 17 March, 2019

BUY recommendations are:  ACPL, AKBL, APL, ASTL, BAFL, BOP, DGKC, EFERT, FFBL, 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:  PMPK, SHEZ, SRVI, SHFA, MARI, and BIFO.

Top losers of last week were: BATA, JLICL, LUCK, INDU, SAPL, POL, and HINO.

Top Volume Leaders of last week:  BOP, KEL, UNITY, LOTCHEM, OGDC, BAFL, PIAA, SNGPL, PAEL, and MLCF.

The Pakistan Stock Exchange (PSX) market index continued their downward slide for the sixth consecutive week. KSE-100 index closed on 38,307 by losing 643 points or -1.7%.

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


  • The total liquid foreign reserves held by the country increased to $14.965 billion on March 08, 2019
  • Interloop Limited (INLO), the first public offer of shares for the current year, managed to raise Rs5.025bn in the book building process held for two days (Wednesday, Thursday) making it largest private sector Initial Public Offering (IPO) of the country
  • volumes remained subdued, with average daily traded volume for the week at 93mn (down 18% WoW)
  • Commercial Banks sector was amongst the worst performing during the week yet again, as the sector chipped away 149 points during the week
  • Exploration and Production Sector and Cements were also amongst the worst performing sectors, cumulatively dragging index down by 229 points
  • In the first four trading sessions of the week, foreigners were net sellers of US$17.7mn vs. net selling of US$3.5mn in the first four days of previous week
  • On the local investors’ side, Insurance Companies and Banks were net buyers of US$7.8mn and US$4.0mn, respectively
  • As per data published by SBP, FDI for month of Feb 2019 was recorded at US$168mn, down 49% YoY
  • The large-scale manufacturing (LSM) index witnessed negative growth of 2.3% during seven months of current fiscal year indicating that economic activities have decelerated in the country

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 9 3.6
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 1 9.6
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 405.9
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 3 8.8
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 4 5.7
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 1 3.9
Target Price: PKR 18.3

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 8 4.8
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 7 3.9
Target Price: PKR 91.0

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 3 8.1
Target Price: PKR 43.5

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 13.69
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 133.99
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 132.9
Target Price: PKR 155.2

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 8 2.2
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,298.57
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 4 5.0
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 8 5.3
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 1 3.9
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 435.1
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1 ,299.9
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   190.7
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 3 9.0
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 814.0
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 4 1.1
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 5 0.8
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 2 2.3
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 134.6
Target Price: PKR 166

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 2 4.0
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 142.2
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 432.8
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 176.0
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 214.3
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 6 9.4
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 137.4
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

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

Pakistan Stock Exchange (PSX) Weekly Analysis 3 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:  PAKT, DAWH, HBL, GWLC, PSMC, FFC, ENGRO, MEBL, and BAHL.

Top losers of last week were: ASTL, EFOODS, HASCOL, PIOC, FFBL, LUCK, MCB, PPL, NESTLE, and UBL.

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

The Pakistan Stock Exchange (PSX) market index movement were largely reflective of the geo-political tensions following the border skirmishes between Pakistan and India. KSE-100 index closed on 39,539 by losing 477 points or -1.19 %, while KSE-30 index closed on 19,022 by losing 268 points or -1.39 %.

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


  • Violation of LoC by Indian aircraft and escalation of cross-border tension, as Pakistan reportedly brought down two IAF jets in a brief engagement
  • PM offering peace talks to India while announcing release of captured Indian pilot
  • Sector‐wise the worst performers for the week were Cements, E&P’s and OMC’s as they chipped away 254 points, cumulatively. While on the other hand the Tobacco sector offered the index some respite as it added 92 points
  • Foreigners were net sellers of US$1 3mn vs net buyers of US$3 5mn in the previous week this ended their six consecutive‐weeks of net buying. While on the local investors’ side, Individuals and Mutual Funds were net sellers of US$21.3mn
  • In the wake of volatility, avg volume at the bourse also increased and stood at 152mn, up 45%WoW
  • Mughal Iron & Steel Ltd (MUGHAL) released its 2QFY19 results, recording an EPS of Rs1.43, up 15% YoY. This was because of 39% YoY increase in sales and a 33% YoY decline in sales and marketing expenses
  • Reserves held by the State Bank of Pakistan decreased by a marginal US$6mn to US$8.04bn during the week ended on Feb 22. Holdings of the commercial banks were recorded at US$6.78bn while total liquid reserves of the country stood at US$14.82bn
  • The Federal Board of Revenue (FBR) missed collections target by Rs235bn during the first eight months of current fiscal year, according to provisional figures released
  • The lawmakers expressed concern over problems being faced by the common people because of an ongoing tussle in the state‐run insurance company and criticized the Federal Board of Revenue (FBR) for seeking approval of half‐cooked development projects without setting priorities right
  • Oil prices increasing after OPEC's statement to continue oil output cuts
  • Fitch expecting a US$12bn IMF bailout for Pakistan


Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 100.40
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 22.02
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 419.01
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 43.41
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 48.07
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 12.79
Target Price: PKR 18.3

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 92.39
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 74.30
Target Price: PKR 91.0

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.24
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 142.43
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 135.35
Target Price: PKR 155.2

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 87.50
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,244.79
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 45.69
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 90.76
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 14.54
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 469.61
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,333.50
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   206.02
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 41.65
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 826.75
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 42.86
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 53.53
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 22.20
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 139.57
Target Price: PKR 166

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 24.25
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 153.25
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 473.22
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 186.00
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 229.42
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 74.58
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 139.25
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

Pakistan Stock Exchange (PSX) Weekly Analysis 23 February, 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:  BAFL, OGDC, MCB, PSO, LUCK, and POL.

Top losers of last week were: UBL, HBL, HUBC, KAPCO, PSMC, MLCF, GWLC, and SNGP.

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

The Pakistan Stock Exchange (PSX) market index continued its downward trend this week, as it closed in the red for a third consecutive week. KSE-100 index closed on 40,016 by losing 471 points or 1.16 %, while KSE-30 index closed on 19,290 by losing 164 points or - 0.85 %.

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


  • The visit from the Saudi Crown prince, who signed Memoranda's of Understanding (MoUs) amounting to US$20bn during his stay, was unable to alter investors’ sentiments due to crumbling Indo‐Pak relations and weak corporate earnings
  • A barrage of weak volumes, mediocre results (with payouts skipped by IPPs) and lack of concrete development on the passage of the Supplementary Finance Bill through parliament, kept a hold on equity market performance with the KSE-100index slipping 1.16%WoW, to close at 40,016pts
  • Sector‐wise Power Generation & Distribution, Commercial Banks and Pharmaceuticals were the worst performers as they ate away 315 points, cumulatively. Oil & Gas Exploration offered the index some support as it gained 85 points
  • Foreigners were net buyers of US$3.5mn vs. US$12.09mn in the previous week, this was their fifth consecutive week of net buying amounting to US$57mn, cumulatively. While on the local investors’ side, individuals were net sellers of US$4.7mn and Banks were net buyers of US$2.6mn
  • Earnings announcements over the coming week include INDU, NML, NCL, PIOC, DGKC, ASTL and PPL
  • The total liquid foreign reserves of Pakistan stand at US$14.795bn, as of 15 February, 2019, said State Bank of Pakistan (SBP). The foreign reserves held by the State Bank of Pakistan were US$8,043mn and the net foreign reserves with commercial banks amounted to US$6,751.6mn
  • Pakistan Tobacco Co. (PAKT) announced its 4Q2018 results, posting an EPS of Rs4.08, down 63% YoY. This was due to a 16ppts decline in gross profit margins, a 39% YoY increase in administration costs and a 45% YoY fall in other income
  • Finance Minister Asad Umar said India would itself suffer for its decision to withdraw Most Favored Nations (MFN) status to Pakistan and impose 200% duty on its products
  • The Federal Board of Revenue (FBR) has advised against imposition of sin tax on the tobacco industry, arguing that it would cause substantial revenue loss in the range of Rs25‐30bn annually
  • Federal Minister for Finance Asad Umar has said that Pakistan would be among the five largest economies of the world by the end of this century
  • The wait for the passing of a supplementary bill in the National Assembly has delayed its likely impact in tax relief to businesses and individuals
  • The country's current account deficit during January narrowed to US$809mn, falling by 47YoY from US$1.544bn recorded during December'18
  • India is pressing for Pakistan to be kept on a terrorism financing watch list following an attack in occupied Kashmir

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 108.13
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 22.47
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 425.41
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 51.54
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 48.89
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 13.36
Target Price: PKR 18.3

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 94.96
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 74.90
Target Price: PKR 91.0

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 16.10
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 153.78
Target Price: PKR 234.57

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 133.51
Target Price: PKR 155.2

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 88.99
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,297.17
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 46.10
Target Price: PKR 61.4

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 93.50
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 15.69
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 491.92
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,310.07
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   212.23
Target Price: PKR 230

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 44.17
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 850
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 44.60
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 54.58
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 22.45
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 141.76
Target Price: PKR 166

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 25.25
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 154.19
Target Price: PKR 190

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 481.88
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 189.92
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 231.04
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 78.21
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 142.12
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

Pakistan Stock Exchange (PSX) Weekly Analysis 17 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:  CHCC, OGDC, PPL, DGKC, KEL, KAPCO, COLG, and UBL.

Top losers of last week were: PSMC, HBL, PSO, APL, PAKT, EFOODS, BAHL, and PSEL.

Top Volume Leaders of last week:  KEL, LOTCHEM, ANL, DGKC, and FCCL.

The Pakistan Stock Exchange (PSX) market index was in the red for a second consecutive‐week as poor corporate earnings as well as lack of any positive triggers, led investors to resort to profit‐taking. KSE-100 index closed on 40,487 by losing 400 points or 0.98 %, while KSE-30 index closed on 19,454   by losing 145 points or - 0.74 %.

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


  • News about a deadly attack in Indian occupied Kashmir (killed more than 40 soldiers) kept the market range‐bound on the last day of the week, as India blamed Pakistan based militant group for the attack, which may hinder regional and on‐going peace talks
  • Investors will eye the Saudi Arabia Crown Prince visit over the weekend, which is anticipated to be followed by multiple investment deals/MoUs worth US$10‐20bn, as per media outlets
  • The hint by Finance Minister of opting for an IMF program could not cheer the investors as they preferred to book profits after the index posting an increase of ~10% in Jan'18
  • Commercial Banks, OMC’s and Fertilizer dragged the index down this week, eating away 283 points, cumulatively. On the other end, due to rising international oil prices E&P’s offered the benchmark index some respite as it added 78 points
  • Foreigners were net buyers during the week of US$12 09mn vs US$12 17mn in the previous week this was their third consecutive week of net buying. While on the local investors’ side, individuals were net buyers of US$5.9mn and Insurance companies were net sellers of US$3.6mn
  • The foreign exchange reserves, held by the central bank, increased 0.16% on a weekly basis, according to data released by the State Bank of Pakistan (SBP)
  • As per a news report, the government is anticipating the fiscal deficit for the current fiscal year to reach 6.3% of gross domestic product (GDP) and miss the 5.1% target set in September last year by a wide margin
  • The government has formally sought help from the World Bank (WB) to improve the business and investment environment in the country, said Adviser to the Prime Minister on Commerce and Investment Razak Dawood
  • A Senate committee said the 53% cut in the budget for information technology in the country is unreasonable, especially when economic growth worldwide depends on progress in this field
  • Global energy demand will surge by a third over the next two decades on advancing prosperity, but Indian demand growth will eclipse that of flagging giant China, Britain’s BP forecast
  • Declining coal prices (down 11% since start of Dec'19) invigorated euphoria among cement stocks in the early part of the week, however, some selling was witnessed in the latter half as profit taking took effect
  • Inflows of US$1.6mn depicted muted foreign interest while the average daily turnover stood at 125mn, down 34.7%WoW
  • The Government reportedly deciding to take up to US$6 billion loan from the International Monetary Fund (IMF)
  • Pakistan and Saudi Arabia likely to ink three major Memorandum of Understanding (MoUs) amounting to over US$10 billion during the upcoming visit of Saudi Prince
  • Exports during 7MFY19 witnessing an increase of 2.24% to US$13.2 billion
  • Moody's Investors Services changing its outlook for the banking system in Pakistan to negative (B3 negative) from stable
  • Taliban saying that their negotiators would meet US envoys for talks this month in Islamabad, and will also sit down with Prime Minister Imran Khan to discuss Afghanistan
  • Continuation of result season will also keep the activity uplifted in selected stocks where some blue chips like PSO, UBL, MCB, ENGRO are expected to announce their results

Following are few BUY recommendations:

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 111.99
Target Price: PKR 140.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 23.06
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 428.95
Target Price: PKR 479.57

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 53.80
Target Price: PKR 80.0

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 49.02
Target Price: PKR  60.1

Bank of Punjab (BOP) – BUY 
Current Price: PKR 13.59
Target Price: PKR 18.3

Cherat Cement Co. Ltd. (CHCC) – BUY 
Current Price: PKR 72.51
Target Price: PKR 96

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 97.60
Target Price: PKR 105.00

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 75.85
Target Price: PKR 91.0

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 33.01
Target Price: PKR 45.1

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 17.20
Target Price: PKR 25

Hascol Petroleum (HASCOL) – BUY 
Current Price: PKR 157.05
Target Price: PKR 234.57

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 92.49
Target Price: PKR 136.9

Indus Motors (INDU) – BUY 
Current Price: PKR 1,297.00
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 51.90
Target Price: PKR 64

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 87.50
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 16.31
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 485.41
Target Price: PKR 605.8

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   1,299.50
Target Price: PKR 1,983.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   205.84
Target Price: PKR 224.73

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 47.40
Target Price: PKR 56.6

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 855.17
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 46.23
Target Price: PKR 66.51

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 57.09
Target Price: PKR 67.7

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 22.10
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 142.33
Target Price: PKR 158

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 25.50
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 149.96
Target Price: PKR 190

Pioneer Cement Limited (PIOC) – BUY 
Current Price: PKR 45.32
Target Price: PKR 60

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 474.39
Target Price: PKR 593.0

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 189.78
Target Price: PKR 208

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 222.50
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 84.30
Target Price: PKR 96.2

United Bank Limited (UBL) – BUY 
Current Price: PKR 153.73
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

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