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November 12, 2008

Statistics
KSE 100 Index
Previous Index
9,183.14
Current Index
9,183.14
Change %
0.00%
YTD (CY08)
(34.76)%
YTD (FY09)
(25.26)%

International Indicates
 
Close
Percentage
BSE-30
9,839.69
(6.61)%
HANGSENG
14,040.90
(4.77)%
NIKKEI 255
8,809.30
(3.00)%
FTSE
4,246.69
(3.57)%
DJI
8,693.96
(1.99)%
SSEC
1,874.80
7.27%
NASDAQ
1,225.59
(2.03%)

S.C.R.A
10-11-2008
2.03
November 08
0.53
YTD
(251.50)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
12.66%
KIBOR (3 months)
15.49%
KIBOR (6 months)
15.76%
PIB (10 years)
15.97%

Exchange Rates
Rs/US
79.00
Rs/UK
124.01
Rs/EURO
101.01
Rs/OMAN RIYAL
209.69

commodities
Oil
$58.96/barrel
Oil Change in %
(3.19)%
Gold
$735.10/ounce
Gold Change in %
(1.93)%

Inflation
CPI Gen. Oct 08 (YOY)
25.0%
CPI Gen. (Jul-Oct 08)
24.6%
NFNE Core INFL Oct 08 (YOY)
18.3%
NFNE Core INFL (Jul-Oct 08)
16.7%

Economic Indicators
US$ Reserves (Billion)
6.76
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
164.82mn
Trade Deficit (Jul- Oct 08)
$(7.52)bn
Curr. A/C (Jul- Oct 08)
$(3.95)bn
Remittances (Jul- Oct 08)
$2.35bn
Foreign Investment (Jul-Sep 08)
$0.94 bn
Comm. Banks Deposit Base (Oct 25, 08)
Rs.3,670bn

Daily Returns and NAVs
as of Nov 11, 2008
 
Offer
Redemption
POBOP
46.8577/-
46.3891/-
Daily Retrun
18.34%
POASF
NA
NA
Daily Retrun
NA
POAIF
NA
NA
Daily Retrun
NA
POAIIF
50.5615/-
50.0559/-
Daily Retrun
51.13%
POAF
10.6345/-
Daily Retrun
12.38%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Harsh terms to be resisted, says Tarin
Shaukat Tarin, advisor to the Prime Minster on Finance Tuesday said that Pakistan has decided to approach the International Monetary Fund (IMF) in next 10 to 15 days to bail-out the country, but will not concede to its harsh terms more... (BR)

15 percent cut in oil prices likely
The government is likely to reduce oil prices by 15 percent to provide relief to the consumers following the reduced oil prices in the international market, effective from November 16. Sources in the Petroleum Ministry revealed on Tuesday that Prime Minister Syed Yousuf Raza Gilani had taken notice of high oil prices in the country, and directed the Ministry to work out a 15 percent cut in petrol, diesel and kerosene oil prices more... (BR)

SBP may raise discount rate by 200 basis points: board meeting today
State Bank of Pakistan (SBP) is most likely to announce a raise of 200 basis points in the policy rate today, fulfilling one of the conditions set by International Monetary Fund (IMF) for granting financial assistance to Pakistan, sources said more... (BR)

Banks warned not to raise lending rates
The State Bank of Pakistan Governor, Dr Shamshad Akhtar, has warned the banks not to raise lending rates from the current levels, otherwise, SBP would be constrained to either mandate the KIBOR or else abolish the system altogether more... (BR)

Finance given green signal to send LoI to IMF
President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani have given a green signal to the Finance Ministry to send the letter of intent (LoI) to the International Monetary Fund (IMF) subsequent to regrets received from the members of the "Friends of Pakistan," well-placed sources told Business Recorder here on Tuesday more... (BR)

We will not tolerate territorial violations: Prime Minister
Cut in fares soon: Malik; Opposition's bills referred to NA committee
Pakistan would not allow its ground and aerial violations, Prime Minister Yousuf Raza Gilani said. Responding to points of order on Tuesday in National Assembly regarding drone aircraft attacks in tribal areas of the country, he said the nation has serious concerns over the attacks more... (FD)

Diamer-Bhasha Dam project gets go-ahead
The Executive Committee of the National Economic Council (Ecnec) on Tuesday gave the go-ahead to the Diamer-Bhasha Dam project more... (D)

Government should stop privatisation of Qadirpur Gas Field: Liaquat
Naib Amir Jamat-e-Islami Pakistan Liaquat Baloch has said that government should stop the privatisation of Qadirpur Gas field which consists of seven wells and its one well fulfils 23 percent gas demand of the country and if all the wells start working it will save the foreign exchange of billions of dollars more... (BR)

sector Briefing

FFC shuts down plantAshfaq Khalid Veryamani
The BMRE (Balancing, Modernising, Revamping and Expansion) of FFC's Mirpur Mathelo plant has started from 10th Nov and is expected to continue till 15th Dec after which the capacity of the company is expected to increase by almost 65,000-70,000 tonnes from current production capacity of 1,904,000 tonnes more... (FD)

Five percent decline in oil products sales
Sale of oil products during July-October 2008 declined by 5 percent, to 5.9 million tons. The sale of black oil (FO and LDO) stood at 2.6 million tons, whereas that of white oil (petrol, diesel, jet fuel and kerosene) stood at 3.3 million tons, down by 4 percent, and 6 percent, respectively more... (BR)

BoK likely to raise paid-up capital to Rs 5 billion by year-end
The Bank of Khyber (BoK) is expected to raise the current paid-up capital from rupees four billion to rupees five billion by the end of the current calendar year and for this purpose, the management of the bank was reviewing different options, including bonus share or right issue 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