BasedLine
LOGO
December 31, 2008

Statistics
KSE 100 Index
Previous Index
6,294.67
Current Index
6,037.38
Change %
(4.09)%
YTD (CY08)
(57.10)%
YTD (FY09)
(50.90)%

International Indicates
 
Close
Percentage
BSE-30
9,716.16
1.92%
HANGSENG
14,235.50
(0.65)%
NIKKEI 255
8,859.56
1.28%
FTSE
4,392.70
1.70%
DJI
8,668.39
2.17%
SSEC
1,832.91
(0.95)%
NASDAQ
1,550.70
2.67%

S.C.R.A
29-12-2008
(2.23)
December 08
(28.30)
YTD
(306.72)

Money Market Updates
Tbill Cut-off
 
1 year
12.79%
6 month
14.01%
KIBOR (3 months)
15.50%
KIBOR (6 months)
15.68%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
79.00
Rs/UK
114.67
Rs/EURO
111.52
Rs/OMAN RIYAL
207.33

commodities
Oil
$38.28/barrel
Oil Change in %
(1.92)%
Gold
$867.40/ounce
Gold Change in %
(0.30)%

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 (Dec 20, 08)
Rs.3,761bn

Daily Returns and NAVs
as of Dec 30, 2008
 
Offer
Redemption
POBOP
46.8459/-
46.3774/-
Daily Return
15.22%
POASF
N/A
N/A
Daily Return
N/A
POAIF
N/A
N/A
Daily Return
N/A
POAIIF
50.8999/-
50.3909/-
Daily Return
13.27%
POAF
10.6290/-
Daily Return
--
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Industrial production down 5.05 percent in four months
The industrial production has declined by 5.05 percent in the first four months of current fiscal year over the same period of last year on the back of high input cost of energy crisis. Official figures released by the Federal Bureau of Statistics (FBS) on Tuesday show that production in all the three major sectors contributing to the Large Scale Manufacturing (LSM) declined more... (BR)

Export proceeds: SBP relaxes rules for repatriation
The State Bank of Pakistan on Tuesday announced one-time waiver for those exporters, who have failed to repatriate their export proceeds in 90 days, and instructed banks to give them Export Refinance Facility. The central bank has received complaints from various exporters' associations that banks are not allowing export refinance facilities under the scheme to exporters due to non-realisation of export proceeds keeping in view the SBP's instructions more... (BR)

ECC takes note of no cut in commodity prices
The Economic Co-ordination Committee (ECC) of the Cabinet on Tuesday met under the chairmanship of Finance Minister Shaukat Tarin and took serious note of not reducing commodity prices despite drastic reduction in oil and palm oil process at international market more... (BR)

 

Pakistan asks India to pull back troops, air force:
Mukherjee denies mobilisation of forces
Pakistan on Tuesday proposed to India to pull back its forces from its forward air and ground bases in a bid to defuse tension, and create friendly atmosphere between the two countries. Foreign Minister Shah Mehmood Qureshi in a policy statement said that troops withdrawal by India would be helpful in defusing the prevailing tense situation between the two countries more... (BR)

India wants to launch air strikes inside Pakistan: McCain - News Briefing
US Senator John McCain has voiced his deep concern over tense South Asian situation, saying India was preparing for some kind of attack on Pakistan in the wake of last month’s Mumbai attacks more... (FD)

 

sector Briefing

Banks allowed to reclassify investments in equities, TFC, Sukuk
The State Bank of Pakistan (SBP) has clarified that banks/DFIs may reclassify their investments in equities, TFCs and Sukuk, categorised as 'Held for Trading' (HFT) to 'Available for Sale' (AFS), or 'Held to Maturity' (HTM). The SBP said that it has clarified as per guidelines mentioned in Para 4 of BSD Circular No 10 dated July 13, 2004, treating prevalent market conditions as exceptional circumstances more... (BR)

Proposed cut in oil prices opposed by two ministries
Petroleum and Finance Ministries have opposed reduction in oil prices, and Petroleum Ministry has moved a summary to Prime Minister to keep oil products prices unchanged for the next fortnight from January 1, 2009. Sources told Business Recorder that Finance Ministry had backed the Petroleum Ministry to maintain the current oil prices unchanged during the next fortnight, from January 1 to 15 more... (BR)

Accord likely with Iran for oil on deferred payment
Pakistan and Iran are likely to sign an accord under which Pakistan will get oil supply on deferred payment. The two countries are also likely to reach an more... (D)

 
(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