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November 06, 2008

Statistics
KSE 100 Index
Previous Index
9,183.14
Current Index
9,183.14
Change %
0.00%
YTD (CY'08)
(34.76)%
YTD (FY'09)
(25.26)%

International Indicates
 
Close
Percentage
BSE-30
10,120.01
(4.81)%
HANGSENG
14,840.16
3.20%
NIKKEI 255
9,521.24
4.50%
FTSE
4,530.73
(2.30)%
DJI
9,139.27
(5.05)%
SSEC
1,706.70
(0.76)%
NASDAQ
1,299.98
(5.68)%

S.C.R.A
04-11-2008
(0.79)
November'08
(0.79)
YTD
(252.82)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
12.66%
KIBOR (3 months)
14.96%
KIBOR (6 months)
15.27%
PIB (10 years)
15.20%

Exchange Rates
Rs/US
80.90
RS/UK
129.58
RS/EURO
105.11
RS/OMAN RIYAL
212.29

commodities
Oil
$64.61/barrel
Oil Change in %
(6.62)%
Gold
$737.10/ounce
Gold Change in %
(3.01)%

Inflation
CPI (YOY)
23.9%
CPI (Jul-Sep)
24.5%
CORE INFTN (YOY)
17.3%
CORE INFTN (Jul-Sep 08)
16.1%

Economic Indicators
US$ Reserves (Billion)
6.92
GDP Growth FY09E
4.2%
Per Capita Income FY09
$1,085
Population
164.76mn
Trade Deficit (Jul-Sep 08)
$(5.55)bn
Curr. A/C (Jul-Sep 08)
$(3.95)bn
Remittances (Jul-Sep 08)
$1.88bn
Foreign Investment (Jul-Sep 08)
$0.94 bn
Comm. Banks Deposit Base (Oct 25, 2008)
Rs.3,670bn

International Indicates
 
Offer
Redemption
POBOP
-
-
Return YTD
-
 
NAV
POAF
-
Retun YTD
-

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

Economy

Package for textile sector approved by Cabinet
The Cabinet on Wednesday approved a package of Rs 1.2 billion for textile sector provide relief in interest rate for loans to spinning sector, and research and development (R&D) support to textile and clothing industry. Under the package, mark-up reimbursement facility has been extended till June 30, 2009, and the spinning sector will be allowed reimbursement @ 3 percent, for which approx Rs 1.2 billion will be required more... (BR)

Saudi Arabia assures Pakistan of economic help
Saudi Arabia has assured Pakistan of economic help, Pakistan's top economic official said on Wednesday, but he gave no details of anyspecific assistance. Pakistan is facing a balance-of-payments crisis that analysts say has left the nuclear-armed US ally little option but to accept International Monetary Fund (IMF) help more... (BR)

SBP to provide 100 percent refinancing to banks under EFS
The State Bank of Pakistan on Wednesday announced to provide 100 percent refinancing to banks under Part-I of the Export Finance Scheme (EFS) to provide more liquidity to banks for export financing. Sources said that the SBP move would inject some Rs 25-27 billion liquidity in the banking system, enabling them to provide more financing under the EFS, while if the central bank completely finances the EFS, than some Rs 47 billion would be injected into the system more... (BR)

Treasury bills auction signals rise in discount rate
The Sate Bank of Pakistan on Wednesday hinted that some hike in policy rate is on the cards, as it raised the cut-off yield of three-month treasury bills by 97 basis points to 13.5313 percent, which is above the policy rate, banking sources said. Expected increase in policy rate is a condition of the International Monetary Fund (IMF) for the financial assistance, sources added more... (BR)

Obama is King’s dream come true
In a country that coined the term “lynching” for extrajudicial murder of blacks and poor whites, Barack Hussein Obama made history on Tuesday when he became the first African American to have been elected president of the United States more... (D)

Zardari, Gilani greet Obama
President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani have congratulated US President-elect Senator Barack Obama on his victory and expressed the hope that the US more... (D)

Cabinet recalls 1996's fired workersEmployees sacked after PPP govt dismissal
Federal Cabinet Wednesday decided in principle to reinstate all government employees sacked after dismissal of Pakistan Peoples Party's government in 1996 more... (FD)

sector Briefing

E&P sector profit after tax soars 55 percent in first quarter
The profit after tax of the Exploration and Production (E&P) sector has increased by 55 percent on year-on-year basis in the first quarter (July-September) of FY09. "The soaring oil price in the international market, higher wellhead prices, along with the depreciating Pak rupee were the main factors behind propelling profits," Saad Arshad an analyst at Invest Capital & Securities said more... (BR)

PSO clarification
Apropos a news item 'PSO Claim of Loss Questioned', carried by "Business Recorder" on November 01, 2008 the Pakistan State Oil has clarified that as far as the increase in revenues from Rs 122 billion to Rs 222 is concerned it is mainly due to the significant increase in the retail prices of different products in the country more... (BR)

JS Bank earns Rs 122.57 million net profit in third quarter
JS Bank Limited, one of Pakistan's fastest growing and upcoming banks, on Wednesday announced its financial results for the third quarter, 2008. The announcement said that the bank saw some robust performance, successfully earning net profit of Rs 122.57 million for the period ended on September 30, 2008 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