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December 26, 2008

Statistics
KSE 100 Index
Previous Index
6,924.15
Current Index
6,660.18
Change %
(3.81)%
YTD (CY08)
(52.68)%
YTD (FY09)
(45.80)%

International Indicates
 
Close
Percentage
BSE-30
9,568.72
(1.22)%
HANGSENG
14,184.14
(0.26)%
NIKKEI 255
8,599.50
0.97%
FTSE
4,216.59
(0.93)%
DJI
8,468.40
0.58%
SSEC
1,852.42
(0.61)%
NASDAQ
1,524.90
0.22%

S.C.R.A
23-12-2008
(1.90)
December 08
(23.72)
YTD
(302.14)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
14.01%
KIBOR (3 months)
15.49%
KIBOR (6 months)
15.69%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
78.80
Rs/UK
116.43
Rs/EURO
110.00
Rs/OMAN RIYAL
205.17

commodities
Oil
$36.19/barrel
Oil Change in %
2.38%
Gold
$847.30/ounce
Gold Change in %
(0.08)%

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)
9.34
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Nov 08)
$(8.74)bn
Curr. A/C (Jul-Nov 08)
$(6.85)bn
Remittances (Jul-Nov 08)
$2.97bn
Foreign Investment (Jul-Nov 08)
$1.44bn
All Scheduled Banks Deposit Base (Nov 29, 08)
Rs.3,761bn

Daily Returns and NAVs
as of Dec 24, 2008
 
Offer
Redemption
POBOP
47.70.48/-
47.2278/-
Daily Return
15.46%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
52.2282/-
51.4881/-
Daily Return
12.81%
POAF
10.6803/-
Daily Return
15.04%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

FBR may increase WHT on imports and exports:
rate of withholding tax on cash withdrawal may also be enhanced
It is learnt here on Thursday that the FBR is exploring possibility to enhance rate of withholding tax on cash withdrawal, imports and exports. The proposal is part of the FBR strategy on the "impact of withholding taxes collection for the year ending June 2009" more... (BR)

Net National Savings Schemes (NSS) deposits up 45.5pc in 4MFY09
Net investment in National Savings Schemes (NSS) surged by 45.5 per cent or Rs10.5 billion to Rs33.8 billion in first four months of fiscal year 2008-09 as compared to Rs23.3 billion during the corresponding period of fiscal year 2007-08, The Financial Daily has learnt more... (FD)

Financiers, institutions agree to buy CFS shares at 12.5 percent discount
Eventually the government had to intervene to address the systematic risk in the equity market by getting the financiers and financees come to terms under a formula whereby brokers facing suspension will be allowed to square off their contracts, under the Continuous Funding System (CFS). Both the financiers and government-managed institutions will equally share the burden after a hair cut of 12.5 percent on last closing prices more... (BR)

 

Islamabad warns Delhi it will retaliate
Foreign Minister Makhdoom Shah Mehmood Qureshi has said that Pakistan army is fully vigilant and aware of the mobilisation of Indian army. Pak army knows very well how to defend their boundaries so if India dares to think about the surgical strikes then we would be compelled to respond. He said this while talking to the media here at local airport on Thursday more... (BR)

Rehman, intelligence chiefs discuss Indian military build-up
Advisor to the Prime Minister on Interior, Rehman Malik on Thursday held a meeting with chiefs of intelligence agencies and discussed the current military build-up by India near Pak borders. Lieutenant General Ahmed Shuja Pasha, DG (ISI), Dr Shoaib Suddle, DG (IB), Tariq Pervaiz, DG (FIA), Secretary Interior, Syed Kamal Shah and Chairman National Crisis Management Cell, Tariq Lodhi attended the meeting more... (BR)

Nawaz, Pervaiz met in Dubai, or did they?
A ‘breaking news’ on some private TV channels on Thursday night — about a meeting between PML-N chief Nawaz Sharif and PML-Q leader Chaudhry Pervaiz Elahi in Dubai more... (D)

 

sector Briefing

Hulking NPLs to dwarf banks' profitsSector earnings may erode 15-20pc
Total banking industry profit is likely to decline by 15 per cent to 20 per cent for CY08 because non-performing loans (NPLs) are increasing and growth in deposits is steady, according to The Financial Daily Research Analyst more... (FD)

Cement sector may see testy timesAzeem Akhter
Cement sector is it is likely to face a difficult operating environment in the foreseeable future although it is enjoying healthy gross margins coupled with sustained higher (sales) prices and recent decrease in variable costs, Pakistan Credit Rating Agency Limited (PACRA) said more... (FD)

Tractor makers, importers' meeting on December 29
Federal Minister for Food, Agriculture and Livestock (Minfal), Nazar Muhammad Gondal has convened a meeting of local tractor manufactures and importers on December 29 to discuss Benazir Tractor Scheme, expected to be launched end January by President Asif Zardari 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