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November 28, 2008

Statistics
KSE 100 Index
Previous Index
9,187.10
Current Index
9,187.10
Change %
0.00%
YTD (CY08)
(34.76)%
YTD (FY09)
(25.26)%

International Indicates
 
Close
Percentage
BSE-30
9,026.72
-
HANGSENG
13,552.06
1.37%
NIKKEI 255
8,373.39
1.95%
FTSE
4,226.10
1.77%
DJI
8,726.61
-
SSEC
1,894.07
(1.24)%
NASDAQ
1,532.10
-

S.C.R.A
26-11-2008
(0.41)
November 08
(24.38)
YTD
(276.40)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
14.01%
KIBOR (3 months)
15.45%
KIBOR (6 months)
15.65%
PIB (10 years)
16.56%

Exchange Rates
Rs/US
78.50
Rs/UK
120.69
Rs/EURO
101.37
Rs/OMAN RIYAL
202.96

commodities
Oil
$53.77/barrel
Oil Change in %
(1.23)%
Gold
$815.50/ounce
Gold Change in %
0.52%

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)
6.60
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
164.95mn
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 22, 08)
Rs.3,709bn

Daily Returns and NAVs
as of Nov 27, 2008
 
Offer
Redemption
POBOP
47.1862/-
46.7143/-
Daily Return
15.95%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
51.0512/-
50.5407/-
Daily Return
12.57%
POAF
10.5914/-
Daily Return
12.76%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Removal of floor: KSE board meeting remains inconclusive
The board of directors of Karachi Stock Exchange (KSE) in its meeting held here on Thursday reviewed the prevailing share market situation and the issue of removal of floor mechanism. The issue of availability of market stabilisation fund was also discussed in the meeting more... (BR)

Pakistan's foreign exchange reserves fall by $40 million
Country's foreign exchange reserves have further plunged by some 40 million dollars during the last week due to the rising trade deficit, huge foreign payments and slow foreign inflows more... (BR)

JP Morgan to reduce presence in equities business
J.P. Morgan, one of the world's largest investment bank, on Thursday said it has decided to reduce its presence in Pakistan's equities business. J.P. Morgan's growth strategy in Pakistan will focus on expansion of Treasury Services operations in which it has built a strong and profitable business in recent years, doubling its market share during past 12 months more... (BR)

 

Commandos battle to regain Mumbai:
Blame game begins, allegations levelled against Pakistan;
As commandos of India’s elite anti-terrorism force, the National Security Guard (NSG), were engaged in fierce battles with terrorists at some places till late Thursday night, officials claimed more... (D)

Mumbai attacks: US active to avert confrontation between Pakistan and India:
The United States has become active to avert any kind of confrontation between Pakistan and India following the deadly terrorist attacks in Mumbai and the Bush administration has rushed to take up the issue with the governments of the two countries more... (BR)

 

sector Briefing

Tax on all earning sectors except agriculture
Adviser to Prime Minister Shaukat Tarin said on Thursday that the government would extend scope of taxes to every earning sector in the next five to seven years to enhance tax-to-GDP ratio to 15 per cent from the exiting nine per cent.“The government is not planning levy of tax on agriculture income in the next 23 months of the IMF standby arrangement programme,” said Mr Tarin while replying to a question after inaugurating the first meeting of the Census Advisory Committee on 6th Population and Housing Census more... (D)

Petroleum dealers for margins on PDL-included price
Petroleum dealers have demanded of the government to provide margins on retail price of petroleum products by including Petroleum Development Levy (PDL). Government is currently giving a margin to dealers on petroleum products after excluding the PDL imposed on different products more... (BR)

Berger locks down Karachi factory, cuts 600 jobsShiraz Ahmed
Berger, the largest paint company in the country, has closed down its factory in Karachi, sources told The Financial Daily on Thursday. They said Berger Group has decided to close down production in Karachi. It may be recalled here that few weeks back the factory situated in SITE industrial area was gutted in a fire as a result the company suffered huge losses more... (FD)

 
(D): Dawn (BR): Business Recorder (FD): The Financial Daily (DT): Daily Times
Research Team:
Shoaib Ali Khan
Department Head

Shayan Hasan
Sernior Analyst
Imran Altaf
Analyst
Faiz Malik
Database
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