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September 24, 2008 

Statistics
KSE 100 Index
Previous. Index
9,198.91
Current Index
9,199.51
Change %
(0.00)%
YTD ( CY' 08)
(34.64)%
YTD ( FY' 09)
(25.13)%

International Indicates
 
Close
Percentage
BSE-30
13,570.31
(3.03)%
HANGSENG
18,872.85
(3.87)%
NIKKEI 255
12,090.59
0.00%
FTSE
5,136.10
(1.91)%
DJI
10,854.17
(1.47)%
TSX
12,912.99
0.00%
KLSE
1026.18
(0.23)%

S.C.R.A
22-09-2008
(3.48)
September
(10.28)
YTD
(228.74)

Money Market Updates
Tbill Cut-off
 
1 year
11.83%
6 month
11.47%
KIBOR ( 3 months)
14.05%
KIBOR ( 6 months)
14.10%
PIB (10 years)
14.40%

Exchange Rates
Rs/US
77.90
RS/UK
142.19
RS/EURO
112.46
RS/OMAN RIYAL
204.18

commodities
Oil
$107/barrel
Oil Change in %
(1.66)%
Gold
$886.40/ounce
Gold Change in %
(1.92)%

Inflation
CPI (YOY)
25.3%
CPI (Jul-Aug)
24.8%
CORE INFTN (YOY)
16.4%
CORE INFTN (Jul-Aug)
15.5%

Economic Indicators
$US Reserves (Billion)
8.91
GDP Growth FY 09E
5.8%
Per Capita Income
$1085
Population
164.36mn
Trade Deficit
$(3.52)bn
Curr. A/C (Jul'09-Aug'09)
$(2.57)bn
Remittances
$1.22bn
Foreign Investment
$0.64 bn
Bank Deposits
(Jan, 19,08)
Rs.3,699. bn

International Indicates
 
Offer
Redemption
POBOP
52.09/-
51.57/-
Return YTD
11.27%
 
NAV
POAF
11.41
Retun YTD
11.03%

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

Economy

KSE bans short-selling after rating cut
The Board of Directors of Karachi Stock Exchange (KSE) has prohibited blank selling in deliverable futures contract for October 2008 and also banned short selling in the ready market effective from Wednesday (today) more... (BR)

Debt servicing crossed $3 billion mark in fiscal year 2008
The country's payment under debt servicing is gradually increasing and crossed 3 billion dollars mark during last fiscal year (2007-08), compelling the central bank to utilise foreign reserves for foreign debt payment, while about 1.2 billion-dollars worth debts have also been rescheduled in fiscal year 2008 due to the huge burden of debt servicing more... (BR)


Moody's cuts bond outlook to negative
Credit ratings firm Moody's cut its ratings outlook for Pakistan's government bonds to negative from stable because of the country's depleting foreign currency reserves as economic reforms are hit by political mayhem. Moody's analyst Aninda Mitra said on Tuesday he was concerned about arrears on sovereign debt and missed repayments as Islamabad's access to foreign exchange worsens more... (BR)

 

US to honour Pakistan's sovereignty: Bush assures Zardari of continued economic support
US President George W Bush has assured his Pakistani counterpart, Asif Ali Zardari, that US would honour Pakistan's sovereignty and pledged continued support for economic and security fields. Both leaders met at Waldorf Astoria Hotel on the sidelines of 63rd UN General Assembly session, where they discussed strengthening of bilateral relations which are now becoming more and more bitter after US attacks on innocent civilian in tribal areas more... (BR)

Suicide bombers coming from Punjab: Owais
NWFP Governor Owais Ghani warned Punjab on Monday that militancy was gaining strength in its backyard more... (D)

 
sector Briefing

Special package for textile sector approved by ECC
The Economic Co-ordination Committee (ECC) on Tuesday approved a special package for textile sector having 7.5 percent duty draw back on total import value of PTA used for making polyester. The proposal for duty draw on import of PTA was submitted to the committee for approval by the Textile Ministry more... (BR)

Agriculture sector faces urea shortage
Agriculture sector is facing acute shortage of urea fertilisers and dealers are selling it on inflated rates, which would affect the production of crops particularly sugarcane. "Urea is important for growth of crops and its shortage would have bad impact on harvest." Ghulam Ali, a farmer from Sargodha, told newsmen more... (BR)

Cement exports lose steam as rupee sheds valueAverage daily export reduced by 50pc to 2,000 tonnes
Cement exports from Pakistan are losing the price advantage over the Indian cement owing to the sharp depreciation of the rupee against the dollar more... (FD)

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

Shayan Hasan
Analyst
Zhoaib Kabani
Technical Analyst
Salman Kazmi
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