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November 19, 2008

Statistics
KSE 100 Index
Previous Index
9,183.14
Current Index
9,184.09
Change %
0.01%
YTD (CY08)
(34.76)%
YTD (FY09)
(25.26)%

International Indicates
 
Close
Percentage
BSE-30
8,937.20
(3.80)%
HANGSENG
12,915.89
(4.54)%
NIKKEI 255
8,328.41
(2.28)%
FTSE
4,208.55
1.80%
DJI
8,424.75
1.83%
SSEC
2,030.48
2.21%
NASDAQ
1,155.75
0.33%

S.C.R.A
17-11-2008
(3.16)
November 08
(4.16)
YTD
(256.20)

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)
16.54%

Exchange Rates
Rs/US
77.80
Rs/UK
116.12
Rs/EURO
97.97
Rs/OMAN RIYAL
206.83

commodities
Oil
$54.40/barrel
Oil Change in %
(1.41)%
Gold
$737.60/ounce
Gold Change in %
(0.05)%

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
47.0011/-
46.5311/-
Daily Return
18.65%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N//A
POAIIF
50.8872/-
50.3783/-
Daily Return
18.91%
POAF
10.6259/-
Daily Return
12.78%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Economists propose cut in expenditure, mobilisation of domestic resources: interim report on economic stabilisation presented
Prime Minister Syed Yousuf Raza Gilani on Tuesday said that the findings of the report on economic stabilisation will help policymakers in formulating indigenous action plan, giving them a clear roadmap for negotiations with the donors. Addressing the panel of economists, headed by Dr Hafiz Pasha, who presented the interim report on economic stabilisation more... (BR)

Pakistan seeks $55 billion investment in various sectors
Pakistan is believed to have requested the Friends of Pakistan for as much as $55billion investment in a host of projects in various sectors. According to Dubai-based Khaleej Times, Pakistan has sought funding for projects worth about $55 billion in sectors such as infrastructure, energy, agriculture and services from the members of Friends of Pakistan Group at a meeting held in Abu Dhabi on Monday more... (BR)

Rs 400 billion of PSDP lying with banks: Tarin estimates inflation at 20 percent, GDP growth at 4%
Pakistan will miss its inflation target of 12 percent, achieving around 20 percent annualised CPI inflation by fiscal year 2008-09 end and would be fortunate if it attains 4 percent GDP growth against its target of 5.5 percent in this global economic meltdown more... (BR)

Public-private sector to invest $30 billion in power generation: Ashraf
To meet the growing power requirements, some $30 billion will be invested in power generation, while letters of intent (LOIs) of companies which did nothing for generating power will be cancelled soon more... (BR)

Parliamentarians oppose move to tax agriculture
The parliamentarians on Tuesday forewarned the government that any move to tax agriculture will be resisted tooth and nail while bluntly describing it as tantamount to making the country hostage to the global market more... (BR)

Electricity shortage: previous government accused of not paying heeds to Wapda proposals
The Water and Power Development Authority (Wapda) authorities have claimed that they repeatedly informed the previous regime of various pitfalls that may arise due to non-compliance of their pertinent proposals with regard to enhancement of electricity in the country more... (BR)

Gilani seeks comprehensive report on economy
Prime Minister Syed Yousuf Raza Gilani asked a panel of 18 economists on Tuesday to come up with its final report latest by mid-January for addressing structural weaknesses of the economy more... (D)

sector Briefing

Auto sector profit down 123pc YoY in Jul-Sep08
Honda Atlas Cars announced its 2nd quarter results of FY09 with that the results announcements of the sectors major companies have completed. The results showed that the auto sector's bottom-line has declined by 123 per cent YoY in July08-Sep08 to reach at a loss after tax of 342 million as compared to profit after tax of Rs1,465 million more... (FD)

Telenor to acquire Tameer Microfinance Bank
Telenor Pakistan is going to acquire Tameer Microfinance Bank Limited-country's largest microfinance bank with an investment of Rs one billion to encourage the microfinance business in the country, it is reliably learnt on Tuesday. Sources said that talks between Telenor and Tameer Microfinance Bank Limited (TMBL) has been almost completed and formal announcement of Temeer Bank's acquisition by the Telenor would be made on Friday more... (BR)

Worst session in KSE trading history
The share market on Tuesday lacked normal trading interest as investors kept to the sidelines awaiting some positive news about lifting of the ‘floor’ in the backdrop of more... (D)

 
(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