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December 19, 2008

Statistics
KSE 100 Index
Previous Index
8,105.63
Current Index
7,785.26
Change %
(3.95)%
YTD (CY08)
(44.69)%
YTD (FY09)
(36.65)%

International Indicates
 
Close
Percentage
BSE-30
10,076.43
3.72%
HANGSENG
15,497.81
0.24%
NIKKEI 255
8,667.23
0.64%
FTSE
4,330.70
0.15%
DJI
8,604.99
(2.49)%
SSEC
2,015.69
1.97%
NASDAQ
1,552.37
(1.71)%

S.C.R.A
17-12-2008
(9.10)
December 08
(18.57)
YTD
(297.00)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
14.01%
KIBOR (3 months)
15.48%
KIBOR (6 months)
15.67%
PIB (10 years)
16.56%

Exchange Rates
Rs/US
79.20
Rs/UK
122.90
Rs/EURO
114.25
Rs/OMAN RIYAL
206.54

commodities
Oil
$36.36/barrel
Oil Change in %
(8.00)%
Gold
$851.80/ounce
Gold Change in %
(1.02)%

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-Nov 08)
$(6.80)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 18, 2008
 
Offer
Redemption
POBOP
47.6040/-
47.1280/-
Daily Return
18.49%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
51.7921/-
51.2742/-
Daily Return
22.15%
POAF
10.6571/-
Daily Return
13.90%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Cut in discount rate: IMF will be approached, says Tarin
The government has decided to negotiate with International Monetary Fund (IMF) for a cut in discount rate if the inflation goes down, which is expected to take place in the third quarter of current fiscal year more... (BR)

Foreign investment down by 21 percent in five months
Net foreign investment has declined by 21 percent during the first five months of the current fiscal year mainly due to poor economic and law and order situation, besides uncertainty on the political front more... (BR)

Domestic debt becomes elephantineTouches historic Rs3.47 trillion in 4MFY09
Country's domestic debt swelled by Rs252.8 billion to historic Rs3.47 trillion during the first four months of fiscal year 2008-09, the State Bank of Pakistan (SBP) reported on Thursday more... (FD)

 

Airspace violation: foreign office summons Indian Deputy HC
The Foreign Office on Thursday summoned Indian Deputy High Commissioner in Islamabad to convey concern over its airspace violation by Indian aircraft. The airspace violation was done on December 12 and 13. According to a statement, issued by the Foreign Office spokesman, Pakistan handed over diplomatic note to the Indian diplomat more... (BR)

New strategy to tackle latest security threats:
Foreign models being studied, NA told
The government on Thursday hinted in the National Assembly at the possibility of formulating a new national security policy to meet present-day challenges about which it said foreign models were being studied and opposition views would be welcome more... (D)

 

sector Briefing

Lower cap on OMCs margins likely
The government may place lower cap on Oil Marketing Companies (OMCs) margins following the cap on dealers' margins. A high-level meeting will be held here on Friday (today) in the petroleum ministry to discuss the options on the revision of OMCs margins. After the decline in oil prices, OMCs margins have been further reduced more... (BR)

Oil drops nine percent
US crude prices dropped more than 9 percent to $36 a barrel on Thursday as slumping demand and swelling US inventories offset Opec's record supply cut agreement. The Organisation of the Petroleum Exporting Countries on Wednesday agreed to cut output by 2.2 million barrels per day from January to counter oil's collapse from record highs above $147 a barrel in July more... (BR)

Bailout package: LHC directs SECP to decide about use of funds in seven days
The Lahore High Court has directed the Securities and Exchange Commission of Pakistan (SECP) to decide in seven days, whether or not the funds available with the commission could be utilised for provision of relief to investors and brokers in the "bailout package." 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