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December 16, 2008

Statistics
KSE 100 Index
Previous Index
9,187.10
Current Index
8,817.10
Change %
(4.03)%
YTD (CY08)
(37.40)%
YTD (FY09)
(29.29)%

International Indicates
 
Close
Percentage
BSE-30
9,832.39
1.47%
HANGSENG
15,046.95
1.96%
NIKKEI 255
8,664.66
5.21%
FTSE
4,277.60
(0.07)%
DJI
8,564.53
(0.75)%
SSEC
1,964.37
0.52%
NASDAQ
1,508.34
(2.10)%

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)
15.65%
PIB (10 years)
16.56%

Exchange Rates
Rs/US
78.80
Rs/UK
118.32
Rs/EURO
106.02
Rs/OMAN RIYAL
212.99

commodities
Oil
$44.56/barrel
Oil Change in %
0.11%
Gold
$837.10/ounce
Gold Change in %
0.07%

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 15, 2008
 
Offer
Redemption
POBOP
47.5366/-
47.0612/-
Daily Return
10.61%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
51.4931/-
50.9782/-
Daily Return
14.41%
POAF
10.6457/-
Daily Return
14.12%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

IMF team discusses progress on targets set: no talks on fund for stock market
The visiting International Monetary Fund (IMF) delegation and government's economic team on Monday discussed progress on targets identified against the $7.6 billion standby facility, but did not touch the issue of a fund for the stock market, sources told Business Recorder. The IMF team is being led by Masood Ahmad, Director, Middle East more... (BR)

Rupee tumbles 1pc on outflow fears
The rupee weakened 1 per cent on Monday as dealers said there was fear of foreign portfolio outflows after the removal of a floor imposed on Karachi Stock Exchange late in August. The rupee was quoted at 79.65/75 to the dollar at 1:16pm, compared with Saturday's close of 79.82/85. -Reuters more... (FD)

No plan to privatise PSM, National Assembly told
The Ministry of Industries and Production on Monday informed the National Assembly that the government had no plan to privatise Pakistan Steel Mills (PSM). The ministry informed the House in writing that the income generated by PSMC during 2007-08 has increased to Rs 43 billion as compared to Rs 32 billion generated during 2006-07, thus depicting an increase of 26 percent more... (BR)

 

Drone attacks to continue, says Bush
US President George W. Bush has indicated that drone attacks on suspected terrorist targets inside the tribal areas would continue and Washington will not consult other governments before ordering such strikes more... (D)

Zardari calls meeting of allies today
President Asif Ali Zardari has called the emergency meeting of all the allied parties in the context of India-Pakistan tension. The meeting will be held today (Tuesday) and discuss the situation in the wake of the hype created by Indian reckless behaviour, informed sources said on Monday more... (BR)

Nuclear assets out of terrorists' reach, Kerry told
Pakistan’s nuclear assets are safe and out of terrorists’ reach, President Asif Ali Zardari told US Senator John Kerry on Monday. He is also reported to have assured the Senator, who had arrived here after a visit to India, that no one would be allowed to use Pakistani soil for terrorist activities against any other country more... (D)

 

sector Briefing

Moody's revises four Pakistani banks outlook to negative
Moody's Investors Service on Monday confirmed, with a negative outlook, the B3 long-term foreign currency deposit ratings of four Pakistani banks. The following Pakistani banks are affected by this rating action more... (BR)

Huge amount of receivables a big problem: PSO managing director
The overall receivable of Pakistan State Oil Company (PSO) has increased to Rs 74 billion, which has created huge problems for the country's leading oil market company to arrange the products and keep the supply chain running smoothly. This was stated by Kalim Siddiqui, Managing Director, PSO in an exclusive interview with Business Recorder here on Monday more... (BR)

CFS market to stay closed till further orders: NCCPL
The National Clearing Company of Pakistan Limited (NCCPL) on Monday announced that the CFS Mk-II Market will remain closed from December 15, 2008 till further orders more... (BR)

 

 
(D): Dawn (BR): Business Recorder (FD): The Financial Daily
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