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November 13, 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
9,536.33
(3.08)%
HANGSENG
13,939.09
(0.73)%
NIKKEI 255
8,695.51
(1.29)%
FTSE
4,182.02
(1.52)%
DJI
8,282.66
(4.73)%
SSEC
1,843.61
(1.66)%
NASDAQ
1,165.38
(4.91)%

S.C.R.A
11-11-2008
(4.93
November 08
(4.40)
YTD
(256.43)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
12.66%
KIBOR (3 months)
15.44%
KIBOR (6 months)
15.68%
PIB (10 years)
16.43%

Exchange Rates
Rs/US
79.30
Rs/UK
119.58
Rs/EURO
98.15
Rs/OMAN RIYAL
209.81

commodities
Oil
$58.96/barrel
Oil Change in %
(6.24)%
Gold
$718.50/ounce
Gold Change in %
(2.26)%

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
46.8776/-
46.4088/-
Daily Return
16.76%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N//A
POAIIF
50.6364/-
50.1300/-
Daily Return
71.59%
POAF
10.64/-
Daily Return
10.64%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Discount rate raised to 15 percent
Faced with falling forex reserves, rising inflation, persistent government borrowing and deteriorating macroeconomic imbalances, the State Bank of Pakistan, for the seventh time, raised on Wednesday its policy rate from 13 percent to 15 percent more... (BR)

Balance of payments position is precarious: SBP
Pakistan's balance of payments position is precarious, and the depleting reserves and depreciating rupee reflect this, says the State Bank of Pakistan. An interim report on monetary conditions, issued by SBP on Wednesday, says more... (BR)

Foreign Direct Investments down 31pc
Net foreign investment inflows to Pakistan fell 31 per cent to $1.1 billion in 4MFY09, as compared to $1.6 billion during the same period last year, according to the sources more... (FD)

SBP expects inflation to remain around 20 percent
Even if consumer prices, from November 2008 onwards, remain constant (ie monthly inflation change is zero) at October 2008 level, average inflation will be close to 20 percent, says the State Bank of Pakistan. Giving the outlook for the current financial year, the central bank said it expects FY09 growth to be onward 4 percent more... (BR)

Foreign trips, princely expenditures tarnishing government's image: PEW
The government should stop counter-productive foreign trips and princely expenditures for seeking monetary support, as it is losing confidence of the masses and tarnishing its own image, said President of Pakistan Economy Watch (PEW) Dr Murtaza Mughal here on Wednesday more... (BR)

Opposition in NA lashes out at president
President Asif Ali Zardari, now on a US visit, received a stinging rebuke from the opposition in the National Assembly on Wednesday for his perceived failings, such as more... (D)

Zardari skips dinner hosted by UN chief
President Asif Ali Zardari was conspicuous by his absence at a dinner hosted by UN Secretary-General Ban Ki-moon on Tuesday evening for the world leaders attending the two-day interfaith dialogue more... (D)

WAF condemns induction of Zehri, Bijrani in cabinet
The Women Action Forum in an open letter to President Asif Ali Zardari, condemned the appointment of Senator Isralullah Zehri and Mir Hazar Khan Bajarani as Federal Ministers for their hostile attitude towards women more... (D)

sector Briefing

Income funds in the line of another fireGhulam Raza Rajani
Much anticipated upward revision of discount rate has been executed by State Bank of Pakistan in order to help economy but analysts see it the other way round more... (FD)

PSO buys 100,000 tonnes low-sulphur fuel oil for December
Pakistan State Oil (PSO) has bought 100,000 tonnes of low-sulphur fuel oil for December, a fifth of their tender requirements, adding to the demand gloom in the market, traders said on Wednesday. The cargoes of 120-centistoke were awarded to Middle Eastern trader FAL Oil at a premium of $177.00 a tonne to Middle East 180-centistoke quotes, on a cost-and-freight (C&F) Karachi basis, they said more... (BR)

BoK launches crop insurance scheme
The Bank of Khyber (BoK) has formally launched the Crop Insurance Scheme for agricultural loans after signing a memorandum of understanding (MoU) with the National Insurance Corporation (NIC) in its Peshawar head office. The Vice President and head of Agricultural Credit and Macro-Finance Department BoK, Gul Kiaz Khan and the General Manager, Crop Insurance NIC, Muhammad Nusrat Hussein signed the MoU on behalf of their respective institutions 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