BasedLine
LOGO
October 08, 2008 

Statistics
KSE 100 Index
Previous. Index
9,178.97
Current Index
9,181.48
Change %
0.02%
YTD ( CY' 08)
(34.77)%
YTD ( FY' 09)
(25.28)%

International Indicates
 
Close
Percentage
BSE-30
11,695.24
(0.90)%
HANGSENG
16,803.76
(5.00)%
NIKKEI 255
10,155.90
(3.00)%
FTSE
4,605.20
0.35%
DJI
9,447.11
(5.11)%
TSX
9,829.55
(3.91)%
KLSE
997.23
0.04%

S.C.R.A
06-10-2008
(1.15)
October
(1.15)
YTD
(235.64)

Money Market Updates
Tbill Cut-off
 
1 year
11.83%
6 month
12.69%
KIBOR ( 3 months)
14.80%
KIBOR ( 6 months)
14.92%
PIB (10 years)
14.40%

Exchange Rates
Rs/US
78.60
RS/UK
137.02
RS/EURO
106.28
RS/OMAN RIYAL
205.12

commodities
Oil
$89.71/barrel
Oil Change in %
0.94%
Gold
$885.00/ounce
Gold Change in %
2.40%

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)
8.13
GDP Growth FY 09E
5.8%
Per Capita Income
$1085
Population
164.50mn
Trade Deficit
$(3.52)bn
Curr. A/C (Jul'08-Aug'08)
$(2.57)bn
Remittances
$1.22bn
Foreign Investment
$0.64 bn
Bank Deposits
(Sept 20, 08)
Rs.3,767. bn

International Indicates
 
Offer
Redemption
POBOP
52.34/-
51.81/-
Return YTD
11.47%
 
NAV
POAF
10.56
Retun YTD
-

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

Economy

Bank spreads on the rise
Banking spreads have jumped by 30 basis points as during August 2008 the interest rate registered an increase to 7.35 per cent as compared to 7.05 per cent during July, numbers released by State Bank of Pakistan revealed Tuesday more... (FD)

Receding reserves jack debt protection cost up
The cost of protection against a default on country's debt surged Monday after the government unveiled a further depletion of its foreign exchange reserves, leading to a ratings downgrade. The blowout in protection costs reflects mounting worries that the south Asian nation may struggle to refinance maturing debts. Standard & Poor's Ratings Services reacted by cutting its sovereign rating on Pakistan by two notches to CCC-plus from B, saying that the extent and pace of the depletion in reserves casts doubts about government's ability to service its debts more... (FD)

Crisis lands rupee in record low zonePak
TThe rupee edged to a record low of 78.69 to the dollar during the last few minutes of interbank trade on Tuesday due to demand to meet import payments more... (FD)

 

Sharif doesn’t qualify to attend session
Former Federal Minister for Parliamentarian Affairs, Dr Sher Afgan Khan Niazi has said that leader Pakistan Muslim League-Nawaz, Main Nawaz Sharif is not eligible to attend the joint session of the House as he is not the member of Parliament more... (FD)

Gilani, Tareen discuss economic affairs in detail
Convener of the Economic Advisory Council, Shaukat Tareen met Prime Minister Syed Yousuf Raza Gilani here at the PM House on Tuesday. The Prime Minister discussed the current economic scenario in the country and the measures that can be adopted for reviving the economy with Shaukat Tareen more... (FD)

McCain, Obama clash again on Pakistan policy
White House hopefuls John McCain and Barack Obama clashed on Tuesday once again on combating terrorism on the Afghan-Pakistan border in their second of three presidential debates more... (BR)

 
sector Briefing

SECP act to turn open-end funds into close-end ones
SECP has directed all asset management companies to suspend pricing, issuance and redemption of units of open-end schemes with direct exposure to equity securities immediately more... (FD)

Price of 50kg DAP raised to Rs 5,570
Despite government's tall claims, the price of 50kg bag of DAP has increased to Rs 5570 from Rs 3000, frustrating the hopes of the poor growers. The government had announced that the price of 50 kg bag of DAP would not be fixed beyond Rs 3000 in order to facilitate the growers in cultivation of wheat that showed a record decline of 2 per cent in yield during the last fiscal, 2007-08 more... (BR)

Cement exports swell to 2.5 million tons in first quarter
Country's cement sector has maintained its healthy growth as its exports witnessed a raise of 60 percent to 2.5 million tonnes during the first quarter of the current fiscal year while the local dispatches have scaled down by 15 percent because of the slow construction activities more... (BR)

(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