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December 17, 2008

Statistics
KSE 100 Index
Previous Index
8,817.10
Current Index
8,444.59
Change %
(4.22)%
YTD (CY08)
(40.00)%
YTD (FY09)
(31.28)%

International Indicates
 
Close
Percentage
BSE-30
9,976.98
1.43%
HANGSENG
15,130.21
0.55%
NIKKEI 255
8,568.02
(1.12)%
FTSE
4,309.10
0.74%
DJI
8,924.14
4.20%
SSEC
1,975.01
0.54%
NASDAQ
1,589.89
5.41%

S.C.R.A
15-12-2008
(1.25)
December 08
(10.69)
YTD
(289.12)

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
79.90
Rs/UK
122.33
Rs/EURO
109.59
Rs/OMAN RIYAL
211.83

commodities
Oil
$44.47/barrel
Oil Change in %
2.00%
Gold
$853.50/ounce
Gold Change in %
1.28%

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-Nov 08)
17.10%

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 16, 2008
 
Offer
Redemption
POBOP
47.5592/-
47.0836/-
Daily Return
18.97%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
51.5121/-
50.9970/-
Daily Return
14.41%
POAF
10.6494/-
Daily Return
13.52%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Steps suggested to improve tax-to-GDP ratio
A delegation of International Monetary Fund (IMF) headed by its director for Middle East and Central Asia Development (MECAD), Masood Ahmad on Tuesday called on the Prime Minister, Syed Yusaf Raza Gilani. The Prime Minister expressed the government's commitment to economic well-being of the people through infrastructure development and increasing economic opportunities more... (BR)

Opec big guns back record oil supply cut
Opec's top two producers, Saudi Arabia and Iran, gave full backing on Tuesday for Opec to make its biggest supply cut ever in a fight against slumping demand and falling prices. Ali al-Naimi, the kingdom's oil minister, told Reuters he also expected those outside Opec to cut up to 600,000 barrels per day (bpd) in concert with a 2 million bpd reduction expected from the 12-member exporter group on Wednesday more... (BR)

IMF chief sees economic recovery from late 2009
chief-sees-economic-recovery-from-late-2009-wk
The International Monetary Fund (IMF) chief warned on Monday of a global recession but said the world economy could begin to recover in late 2009 or early 2010 after ‘a very difficult year more... (D)

 

No military action against Pakistan: Antony
Indian Defence Minister A K Antony said India was not planning military action against Pakistan following the situation arising out of Mumbai incident. Talking to mediapersons on the sidelines of a function held in connection with the 37th anniversary of Pak-India war in 1971, Antony said for the improvement of bilateral relations, Pakistan has to take action against terrorists more... (BR)

Kerry urges resumption of Pakistan-India talks:
Crisis caused by misunderstanding
US Senate Foreign Relations Committee’s chairman-designate John Kerry has said that India is not aware of all that Pakistan has done to crack down on elements accused of being involved in last month’s terrorist attack in Mumbai more... (D)

 

sector Briefing

IMF go-ahead for Rs20bn bourse support fund
The International Monetary Fund has given a go-ahead to Pakistan to provide Rs20 billion fund to support its sinking bourses. After the removal of the floor on Monday, the Karachi Stock Exchange nosedived to a two-and-half-year low amid growing economic uncertainty, Pakistan-India tension and an earlier IMF warning against using public funds to support the market more... (D)

Rs 20 billion public entities shares to be offered to expatriates:
option of market support fund still intact: Tarin
Advisor to Prime Minister on Finance Shaukat Tarin said on Tuesday that the government would sell Rs 20 billion shares of public sector entities to non-resident Pakistanis, for which an agreement has been reached with International Monetary Fund (IMF) more... (BR)

Slow economy puts brakes on auto salesSales down by 38pc in 5MFY09
The total sales of auto sector declined by 38 per cent to 49,175 units YoY in 5MFY09 as compared to 78,913 units during the same period of last fiscal year, according to PAMA data released for the month of November 2008 more... (FD)

 
(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