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  July 17, 2008 

Statistics
KSE 100 Index
Previous. Index
10,959.87
Current Index
10,491.88
Change %
(4.27)%
YTD ( CY' 08)
(25.47)%
YTD ( FY' 08)
(23.81)%

International Indicates
 
Close
Percentage
BSE-30
12,575.80
(0.79)%
HANGSENG
21,223.50
0.23%
NIKKEI 255
12,760.80
0.05%
FTSE
5,150.60
(0.40)%
DJI
11,239.28
2.52%
TSX
13,709.10
0.23%
KLSE
1,118.36
(0.73)%

S.C.R.A
15-07-2008
(47.45)
June
(94.33)
YTD
(94.33)

Money Market Updates
Tbill Cut-off
 
1 year
11.83%
6 month
11.47%
KIBOR ( 3 months)
13.92%
KIBOR ( 6 months)
14.15%
PIB (10 years)
14.42%

Exchange Rates
Rs/US
71.30
RS/UK
141.50
RS/EURO
112.00
RS/OMAN RIYAL
183.53

commodities
Oil
$138.72/barrel
Oil Change in %
(2.79)%
Gold
$964.30/ounce
Gold Change in %
(0.87)%

Inflation
CPI (YOY)
19.3%
CPI (July-Apr)
11.1%
CORE INFTN (YOY)
12.3%
CORE INFTN (July-Apr)
7.9%

Economic Indicators
$US Reserves (Billion)
11.12
GDP Growth FY 08E
5.8%
Per Capita Income
$1085
Population
163.81mn
Trade Deficit
$(20.74)bn
Curr. A/C (Jul'07-Jan'08)
$(12.95)bn
Remittances
$5.90bn
Foreign Investment
$3.94 bn
Bank Deposits
(Jan, 19,08)
Rs.3,699. bn

International Indicates
 
Offer
Redemption
POBOP
51.02/-
50.51/-
Return YTD
N/A
 
NAV
POAF
N/A
Retun YTD
N/A

Inflation
AMC Ratings
AM3+
POBOPAPF
Fund Stablility Rating
A(f)
POAF Fund Rating
AA-

Economy

Remittances touch record $6.5bn
Pakistan received record remittances of about $6.5 billion during 2007-08 from overseas workers enabling the country to meet at least 50 per cent of the current account deficit more... (D)

Oil sinks after jump in US crude reserves
Oil prices plunged by $5 five on Wednesday, extending this week’s spectacular losses after a surprise jump in crude reserves in key energy consumer the United States, traders said more... (D)

Currency notes were printed in bulk, SBP governor tells Cabinet
The Federal Cabinet in its meeting chaired by Prime Minister Yousuf Raza Gilani here on Wednesday decided not to export wheat unless surplus level in its productivity was attained. In order to curb smuggling, the meeting took a decision to enforce a uniform rate of wheat throughout the country more... (BR)

Monetary policy could be tightened further
The State Bank of Pakistan is in no mood to surrender to soaring inflation and has once again made aggressive tightening by hiking treasury bills yield. The SBP did not hesitate to mop up all the money that was offered in 3-months and sucked Rs 49.185 billion at a cut off rate of 11.7825 percent against last cut off rate of 11.5534 percent, a jump of 22 basis points and in 12 months against last cut off yield of 11.7891 percent more... (BR)

Non-bailable arrest warrants for Pervaiz, Maulana Fazl
An additional district and sessions judge on Wednesday issued non-bailable arrest warrants for former chief minister Pervaiz Elahi, JUI-F chief Maulana Fazlur Rehman and nine other accused more... (D)

PPP rejects fears about coalition’s collapse
Leader of the House in Senate Mian Raza Rabbani claimed on Wednesday that the PPP-led coalition government had introduced some changes in the policy relating to the war more... (D)

Dr Khan’s detention case judgment on 21st
The Islamabad High Court reserved on Wednesday its verdict on a case about detention of nuclear scientist Dr Abdul Qadeer Khan. The judgment will be announced on July 21 more... (D)

 
sector Briefing

CNG outlets ignore govt price
Retail outlets are still selling CNG at an average price of Rs48.80 per kg despite correction by the government of an erroneous announcement about price increase more... (D)

Pakistan’s apparels fetch lowest price
Pakistan’s textile and clothing sector export price has nosedived to the lowest level among the leading exporting countries preventing fresh investment in the sector necessary to improve competitiveness and productivity more... (D)

Textile units fail to resume work due to operational losses
Most of the textile units, especially powerloom units and small hosieries and other ancillaries could not resume work despite the end of their protest strike due to operational losses on inputs like gas, electricity and petroleum products more... (BR)

(D): Dawn (BR): Business Recorder
seprator
Research Team:
Shoaib Ali Khan
Department Head

  Zhoaib Kabani
Technical Analyst
Shayan Hasan
Analyst
Ayub Khuhro
Analyst
Seprator
Disclaimer:
This news update is being circulated for information purposes only and no action is being solicited based on it. Information and calculations presented in this news update have been generated from sources which we believe to be reliable, however we do not represent that it is accurate, complete and should be relied upon.  Pak Oman Asset Management Company Ltd. does not assume any liability on it. This news update or any part of it should not be reproduced, published or distributed without prior permission