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January 05, 2009

Statistics
KSE 100 Index
Previous Index
5,753.18
Current Index
5,793.57
Change %
0.70%
YTD (CY08)
(58.30)%
YTD (FY09)
(52.86)%

International Indicates
 
Close
Percentage
BSE-30
9,958.22
0.55%
HANGSENG
15,042.41
4.60%
NIKKEI 255
8,859.56
1.30%
FTSE
4,561.79
2.88%
DJI
9,029.20
2.88%
SSEC
1,820.81
-%
NASDAQ
1,632.21
3.50%

S.C.R.A
02-01-2009
(9.50)
January 09
(9.50)
YTD
(319.43)

Money Market Updates
Tbill Cut-off
 
1 year
14.25%
6 month
14.00%
KIBOR (3 months)
15.50%
KIBOR (6 months)
15.68%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
78.90
Rs/UK
114.76
Rs/EURO
109.84
Rs/OMAN RIYAL
205.43

commodities
Oil
$46.94/barrel
Oil Change in %
1.29%
Gold
$871.40/ounce
Gold Change in %
(0.92)%

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)
9.66
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 27, 08)
Rs.3,801bn

Daily Returns and NAVs
as of Jan 03, 2009
 
Offer
Redemption
POBOP
47.1251/-
46.6538/-
Daily Return
15.76%
POASF
-
-
Daily Return
-
POAIF
51.05/-
49.77/-
Daily Return
-
POAIIF
50.9956/-
50.4856/-
Daily Return
14.23%
POAF
10.6470/-
Daily Return
13.92%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Monetary overhang from government borrowing to persist
Finance Ministry has conceded that monetary overhang from the unprecedented government borrowing from the State Bank of Pakistan (SBP) for budgetary support would continue to frustrate the decline in imported inflation more... (BR)

SBP's T-bills auction target shocks banks
The State Bank’s announcement to extract Rs565 billion from the banking sector through treasury bills has shocked many bankers as banking sector’s market value plunged by 70 per cent during 2008 more... (D)

$37.93 million pulls up stakes from stocks in week
Foreigners eject $23.74mn from exchanges on Friday
Equity market of the country witnessed a net outflow of $37.93 million during the week that ended on Friday, data released by National Clearing Company of Pakistan Limited (NCCPL) said more... (FD)

Mumbai attack: India blames ‘state actors'
Indian Home Minister P. Chidambaram has rejected Pakistan’s suggestion that the perpetrators of the Mumbai carnage were non-state actors and indicated that the terrorists may have been trained by one or more state security specialists more... (D)

India to give US Mumbai attacks 'evidence'
The sophistication of the Mumbai attack points to the involvement of "state actors" in Pakistan, India's home minister said on Sunday, ahead of a visit to the United States with a dossier of evidence more... (BR)

 

sector Briefing

NIT Units dealing resumes from January 5
NIT has removed the temporary suspension of pricing, and dealing in NIT Units placed, according to notice dated December 17, 2008, a press release issued here on Saturday said. NIT has informed its investors that pricing and normal dealing in NIT Units will resume from Monday, January 5, 2009 more... (BR)

Work on to increase refineries' deemed duty rate
The government is working to increase the deemed duty from 7.5 percent to the previous 10 percent, to be paid to oil refineries, thereby enabling them to recover inventory losses and the cost of doing business in line with reduction in oil prices more... (BR)

Circular debt cut to calm power crisis
The decision of government to clear circular debt within six months will help overcome the power crisis in the country in the shortest possible time, said an official of Pakistan Electric Power Company (PEPCO). He told APP that the government has assured making all-out efforts to increase production capacity of electricity by reducing circular debt, which is the main bottleneck that has resulted in bulk of problems in power sector 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