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December 01, 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
9,096.72
0.73%
HANGSENG
13,888.24
2.48%
NIKKEI 255
8,512.27
1.66%
FTSE
4,288.01
1.46%
DJI
8,829.04
1.17%
SSEC
1,894.07
(1.24)%
NASDAQ
1,535.57
0.23%

S.C.R.A
28-11-2008
(2.06)
November 08
(26.40)
YTD
(278.43)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
14.01%
KIBOR (3 months)
15.47%
KIBOR (6 months)
15.67%
PIB (10 years)
16.56%

Exchange Rates
Rs/US
78.70
Rs/UK
121.08
Rs/EURO
99.90
Rs/OMAN RIYAL
205.04

commodities
Oil
$53.50/barrel
Oil Change in %
(1.71)%
Gold
$812.50/ounce
Gold Change in %
(0.79)%

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 29, 2008
 
Offer
Redemption
POBOP
47.2269/-
46.7546/-
Daily Return
16.90%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
51.0865/-
50.5756/-
Daily Return
13.46%
POAF
10.5989/-
Daily Return
13.59%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Petrol prices cut by Rs nine, diesel by Rs four
Government on Sunday made another cut in oil products prices ranging between Rs 4 per litre to Rs 9 per litre effective from Monday (today). Government reduced the prices of petrol and HOBC by Rs 9 per litre each, Kerosene oil and Light diesel oil (LDO) by Rs 5 per litre and high speed diesel Rs 4 per litre to provide relief to the consumers in line with the reduction in oil prices in the international market more… (BR)

$14.68mn flies off the bourses last week
Country's equity markets witnessed a net outflow of $14.68 million during the week ended on Friday mainly due to off market transaction which swelled significantly last week. On the other hand cumulative net outflow of portfolio investment during Jul-Nov 28, 2008 stood at $278.42 million, according to latest State Bank update more… (FD)

Dubai high-end property defaults rise - News Briefing
Dubai is witnessing an increase in defaults on high-end properties as financing conditions worsen and is likely to see smaller developers merge, a member of the Gulf Arab trade hub's financial crisis committee said on Sunday more… (FD)

 

APC on national security summoned on December 2
ISLAMABAD (December 01, 2008): Prime Minister Yousaf Raza Gilani has convened a conference of all political parties on national security to tackle the situation arising after the Wednesday's terrorist attacks on Mumbai, India's commercial hub more… (BR)

Indian Home minister and security adviser quit
India's interior minister resigned on Sunday as anger grew over intelligence failures leading up to the devastating attacks on Mumbai, as the government mulled over suspending a peace process with Pakistan more… (BR)

 

sector Briefing

10 percent cut in taxes for car makers suggested
The Ministry of Industries and Production has recommended 10 percent reduction in taxes for local car manufacturers, to be considered by the Economic Co-ordination Committee (ECC) of the cabinet scheduled to meet on Tuesday, official sources told Business Recorder more… (BR)

ADB promised 62pc power tariff hike in FY09
Finance Ministry paving way for $40-50mn ADB loan
The government has assured Asian Development Bank (ADB) that power tariff will be increased by 62 per cent during the current fiscal year more… (BR)

Opec delays action on production
Opec decided on Saturday to leave its oil output quota unchanged and vowed to take any action necessary to balance the market next month, the cartel’s president said after a consultative meet in Cairo.“Ministers agreed to take any additional action on December 17 (in Oran, Algeria) to balance oil supply and demand and achieve market stability,” said Chakib Khelil, who is also Algeria’s energy minister more... (D)

 
(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