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November 18, 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
9,291.01
(1.01)%
HANGSENG
13,529.53
(0.10)%
NIKKEI 255
8,522.58
0.71%
FTSE
4,132.16
(1.50)%
DJI
8,273.58
(2.63)%
SSEC
1,986.44
3.05%
NASDAQ
1,151.96
(2.35)%

S.C.R.A
14-11-2008
1.98
November 08
(1.01)
YTD
(253.04)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
12.66%
KIBOR (3 months)
15.46%
KIBOR (6 months)
15.69%
PIB (10 years)
16.53%

Exchange Rates
Rs/US
78.50
Rs/UK
120.21
Rs/EURO
101.27
Rs/OMAN RIYAL
210.37

commodities
Oil
$55.18/barrel
Oil Change in %
(1.52)%
Gold
$738.00/ounce
Gold Change in %
(0.27)%

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)
6.74
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
164.87mn
Trade Deficit (Jul-Oct 08)
$(7.52)bn
Curr. A/C (Jul-Oct 08)
$(5.94)bn
Remittances (Jul-Oct 08)
$2.35bn
Foreign Investment (Jul-Oct 08)
$1.15bn
All Scheduled Banks Deposit Base (Nov 08, 08)
Rs.3,691bn

Daily Returns and NAVs
as of Nov 17, 2008
 
Offer
Redemption
POBOP
46.9791/-
46.5093/-
Daily Return
18.88%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N//A
POAIIF
50.8630/-
50.3544/-
Daily Return
17.02%
POAF
10.6224/-
Daily Return
26.77%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Friends of Pakistan agree to road map
A group of donor countries dubbed as Friends of Pakistan Group agreed on Monday to a roadmap with a resolve to enabling Pakistan overcome its present financial crisis, according to sources. The experts meeting, which was held in Abu Dhabi, was jointly chaired by the UAE and Pakistan, also overwhelmingly offered complete support to Pakistan in providing financial resources, investments, technical assistance and technology to help better its economy more... (BR)

Foreign investment down by 30 percent
Net foreign investment during the first four months of the current fiscal year declined by 30 percent mainly due to massive outflow of $487.47 million from portfolio investment owing to poor law and order situation and uncertainty on political front more... (BR)

Industrial output down 6.2pc in first quarter
Pakistan’s industrial output declined by 6.20 per cent in the first quarter of the current fiscal year because of the global financial crisis more... (D)

Opec further cuts oil demand forecast
Opec on Monday cut its forecast for world demand for its crude oil next year due to the slowing global economy, building a case for further oil supply cuts to prop up prices. In a monthly report, Opec said it expected 2009 demand for its oil to average 30.92 million barrels a day more... (BR)

Panel pleads for protecting social sector outlays: Presentation to PM today
Prime Minister Syed Yousuf Raza Gilani is getting on Tuesday a formal presentation on report “Stabilisation with a human face” from the panel of senior economists led by an ex-minister Dr Hafiz Pasha more... (D)

Pakistan hopeful of policy review by Obama administration
The government told the National Assembly on Monday it hoped for a policy review by the new US administration of President-elect Barack Obama taking office next month, while more... (D)

Investments, not aid, likely from ‘Friends'
Pakistan is not expecting pledges of financial support from a group of friendly nations that met in Abu Dhabi on Monday to consider various proposals to help revive its ailing economy more... (D)

sector Briefing

PSO diesel, petrol stocks may exhaust by end of month
Pakistan State Oil (PSO) has warned the government that its stocks of high speed diesel (HSD) and premier motor gasoline (PMG) are likely to deplete by the end of the current month due to low refinery production and import issues of crude oil more... (BR)

Vendors, carmakers to seek govt rescue
The automakers and vendor industry will seek a rescue package in a meeting with Shaukat Tarin, the adviser to the prime minister on finance, this weekend to save more... (D)

Furnace oil price reduced by Rs 8,799 per ton
The oil marketing companies (OMCs) have announced to reduce furnace oil price by Rs 8,799 per ton to Rs 28,026 per ton from Rs 36,825 per ton due to the continuous declining trend in world oil prices, dealers said. They said that all leading oil marketing companies including Pakistan State Oil (PSO) and Shell Pakistan had announced to cut the furnace oil price more... (BR)

24 percent decline in oil sector profits
Oil sector profitability declined by 24 percent to Rs 18.6 billion in the first quarter of FY09 with the only support coming from the E&P sector (up 55 percent) but tainted by refineries (down 219 percent). Two of the three listed oil marketing companies (OMCs) deeply plunged into losses, with their bottom lines plummeting by 376 percent in the first quarter of FY09 to Rs 8.79 billion against huge profits in FY08 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