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October 09, 2008 

Statistics
KSE 100 Index
Previous. Index
9,181.48
Current Index
9,178.73
Change %
(0.03)%
YTD ( CY' 08)
(34.79)%
YTD ( FY' 09)
(25.31)%

International Indicates
 
Close
Percentage
BSE-30
11,328.36
(3.14)%
HANGSENG
15,431.73
(8.20)%
NIKKEI 255
9,203.32
(9.50)%
FTSE
4,366.70
(5.20)%
DJI
9,258.10
(2.00)%
TSX
9,829.55
(3.91)%
KLSE
970.19
(2.71)%

S.C.R.A
07-10-2008
(0.97)
October
(2.12)
YTD
(236.61)

Money Market Updates
Tbill Cut-off
 
1 year
11.83%
6 month
12.69%
KIBOR ( 3 months)
14.90%
KIBOR ( 6 months)
15.00%
PIB (10 years)
14.41%

Exchange Rates
Rs/US
78.90
RS/UK
135.52
RS/EURO
107.20
RS/OMAN RIYAL
207.75

commodities
Oil
$89.71/barrel
Oil Change in %
(1.48)%
Gold
$904.20/ounce
Gold Change in %
2.16%

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
52.35/-
51.83/-
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

SBP intervenes as rupee plunges
The State Bank of Pakistan has taken several measures to stop the fall of rupee against the dollar by intervening in the interbank market with 100 million dollar and offering exchange companies for unlimited supply of dollar at a notional rate of Rs 80, sources said more... (BR)

$7.427 billion needed for import of refined POL products: ECC informed
An official working paper presented to the Economic Co-ordination Committee (ECC) of the Cabinet says Pakistan needs $7.427 billion for import of refined petroleum products for 2008-09, $1.2 billion extra against $6.2 billion of the last fiscal year. This import bill does not include the financial cost that Pakistan paid for import of crude oil, which was over $4 billion for the last fiscal year more... (BR)

200 bps cut in CRR in two phases
The State Bank of Pakistan on Wednesday night announced that it was cutting the Cash Reserve Requirement (CRR) by 200 bps to 7 percent in two phases to provide some relief to the banks to overcome their liquidity shortage. Reduction in the CRR for all deposits up to one-year maturity is by 100bps to 8 percent from 9 percent effective October 11 and by another 100bps to 7 percent effective November 11 more... (BR)

 

Tareen sees banks' cartel behind currency fall
Advisor to the Prime Minister on Finance Shaukat Tareen has said that a cartel of few banks is involved behind the recent rupee depreciation, which has created some liquidity issues in the country. Talking to newsmen at Karachi Airport upon his first arrival after taking over the charge of his office here on Wednesday he said that the central bank is monitoring the situation closely more... (BR)

Military seeks politicians’ support to fight militants: Nawaz, Shujaat, CMs and Kayani attend briefing - Opposition dissatisfied
The military took elected representatives of the nation into confidence on Wednesday about the worsening situation in Fata, NWFP and Balochistanand the US-led “war on terror” during more... (D)

PPP, PML-N come up with divergent views
Leaders of the PPP and the PML-N have come up with divergent views on the in-camera briefing by military as the former said that it would augur well for the future of the country while the latter said that there was nothing new in the briefing .PPP leader and federal minister Syed Khurshid Shah said that the briefing would be useful for the future line of action the government takes with consensus against the militancy more... (BR)

 
sector Briefing

Mutual fund freeze not to impact money funds
The freeze on pricing, issuance and redemption of units of open-end mutual funds with direct exposure to equity market imposed by the Securities and Exchange Commission of Pakistan more... (D)

LPG prices increased
LPG Producing Companies have increased gas prices by Rs 1,243 per tons fixed it at Rs 52, 133 per ton. Resultantly, retail prices of LPG in Lahore have now reached Rs 82 per kg, Rs 84 per kg in Karachi and Rs 87 per kg in Peshawar. The Chairman, All Pakistan LPG Distributors' Association, Abdul Hadi Khan disclosed this in a statement issued on Wednesday more... (BR)

PICT imports 12 gantries from China
Pakistan International Container Terminal (PICT) on Wednesday imported 12 gantries from China at a cost of $24.5 million to enhance its cargo handling capacity. According to well-placed sources, a ZPMC's project vessel, M/v ZHEN HUA-5, carrying two Ship to Shore Gantries (SSGs) weighing 1,200 tons each and 10 Rubber Tyred Gantries (RTGs), was safely docked at PICT 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