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December 15, 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
9,690.07
0.46%
HANGSENG
14,758.39
(5.48)%
NIKKEI 255
8,235.87
(5.56)%
FTSE
4,280.40
(2.47)%
DJI
8,629.68
0.75%
SSEC
1,954.21
(3.81)%
NASDAQ
1,540.72
2.18%

S.C.R.A
12-12-2008
(2.63)
December 08
(9.44)
YTD
(287.87)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
14.01%
KIBOR (3 months)
15.45%
KIBOR (6 months)
15.64%
PIB (10 years)
16.56%

Exchange Rates
Rs/US
78.70
Rs/UK
117.53
Rs/EURO
105.18
Rs/OMAN RIYAL
205.14

commodities
Oil
$47.04/barrel
Oil Change in %
1.64%
Gold
$831.50/ounce
Gold Change in %
1.34%

Inflation
CPI Gen. Nov 08 (YOY)
24.68%
CPI Gen. (Jul-Nov 08)
24.65%
NFNE Core INFL Nov 08 (YOY)
18.90%
NFNE Core INFL (Jul-Oct 08)
16.7%

Economic Indicators
US$ Reserves (Billion)
9.10
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
164.95mn
Trade Deficit (Jul-Nov 08)
$(8.74)bn
Curr. A/C (Jul-Oct 08)
$(5.94)bn
Remittances (Jul-Nov 08)
$2.97bn
Foreign Investment (Jul-Oct 08)
$1.15bn
All Scheduled Banks Deposit Base (Nov 29, 08)
Rs.3,756bn

Daily Returns and NAVs
as of Dec 13, 2008
 
Offer
Redemption
POBOP
47.5103/-
47.0352/-
Daily Return
16.43%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
51.4552/-
50.9406/-
Daily Return
14.75%
POAF
10.6380/-
Daily Return
14.32%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Remittances to Pakistan soar
Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of $2,966.51 million was received in the first five months (July-November, 2008) of the current fiscal year 2008-09, showing an increase of $ 379.44 million or 14.67 percent over the same period of the last fiscal year more... (D)

Government targets $20 billion foreign investment next year
Federal Investment Minister Senator Waqar Ahmad Khan has said that the government has fixed 20 billion-dollar target for foreign investment in 2009 to bring the country out of the current economic crisis. Pakistan needed over 40 billion-dollar investment and the government was optimistic to achieve the 20 billion-dollar target fixed for 2009, he stated this while talking to reporters here on Saturday more... (BR)

Tarin seeks public, private sectors' help to bring down inflation
Advisor to Prime Minister on Finance and Economic Affairs Shaukat Tarin has sought the help of federal Secretaries, provincial governments, and private sector to bring down inflation, after the failure of IMF-dictated tight monetary policy, sources told Business Recorder more...

India-Pakistan tension serving cause of peace enemies': Gilani tells Brown
Prime Minister Yousuf Raza Gilani has said that the tension between India and Pakistan after Mumbai attacks has benefited the enemies of peace, terrorists and extremists more... (BR)

Brown blames LeT for Mumbai attacks:
Zardari stresses need for international cooperation
British Prime Minister Gordon Brown offered help to Pakistan and India on Sunday in investigating the Mumbai attacks. He also offered a new “pact against terror” more... (D)

Ties with Pakistan depend on crackdown, says Singh
Indian Prime Minister Manmohan Singh said on Sunday that relations with Pakistan could only be normalised when it no longer provided safe havens for militant groups more... (BR)

sector Briefing

KSE to conduct normal trading: floor mechanism being removed today
The stock exchange floor mechanism, imposed on share prices, will be removed, and the Karachi Stock Exchange (KSE) will open on Monday with normal trading parameters of 5 percent upper and lower circuits, as per the directive of the Securities and Exchange Commission of Pakistan (SECP)", KSE sources said more... (BR)

List of to-be-privatised entities under review
Federal Minister for Privatisation and Investment, Syed Naveed Qamar, on Sunday said policy as well as list of entities to be privatised is being reviewed. The minister said that we would foster the concept of public-private partnership in the future. He said we are not only reviewing the organisations on our privatisation list but those ones also which would be brought to fore under this new philosophy more... (FD)

Offshore investors withdraw $9.828 million from equity market
A massive outflow of foreign portfolio investment was witnessed as $9.828 million were withdrawn by offshore investors in single-day trading on Friday. According to National Clearing Company of Pakistan Limited (NCCPL) data the cumulative outflow of this mode of investment reduced to $8.625 million during the current month from December 1 to December 12 more... (BR)

 
(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