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January 09, 2009

Statistics
KSE 100 Index
Previous Index
5,917.90
Current Index
6,074.87
Change %
2.65%
YTD (CY08)
(58.30)%
YTD (FY09)
(50.57)%

International Indicates
 
Close
Percentage
BSE-30
9,586.88
(7.25)%
HANGSENG
14,987.46
(3.37)%
NIKKEI 255
9,239.24
1.74%
FTSE
4,507.51
(2.83)%
DJI
8,770.42
(2.71)%
SSEC
1,878.18
3.15%
NASDAQ
1,599.06
(3.23)%

S.C.R.A
05-01-2009
(1.00)
January 09
(10.50)
YTD
(320.43)

Money Market Updates
Tbill Cut-off
 
1 year
14.25%
6 month
14.00%
KIBOR (3 months)
15.49%
KIBOR (6 months)
15.68%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
79.00
Rs/UK
115.94
Rs/EURO
107.57
Rs/OMAN RIYAL
202.63

commodities
Oil
$42.35/barrel
Oil Change in %
1.56%
Gold
$856.90/ounce
Gold Change in %
0.28%

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)
9.66
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 06, 2009
 
Offer
Redemption
POBOP
47.1883/-
46.7164/-
Daily Return
21.39%
POASF
52.92/-
51.60/-
Daily Return
7.33%
POAIF
51.12/-
49.84/-
Daily Return
7.60%
POAIIF
51.0511/-
50.5406/-
Daily Return
14.13%
POAF
10.6582/-
Daily Return
14.37%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Global slowdown starts hurting Pakistan exports
Global recession and emerging deflation in the developed countries has started affecting Pakistan’s exports, which are gradually declining since October. Though, the overall exports of the country during first 5 months (July-Nov-08) increased by 11.8 more... (D)

WHT on luxury goods may be raised to six percent
The Federal Board of Revenue may raise withholding tax from 2 percent to 5-6 percent on the import of non-essential goods and luxury items to generate additional revenue in the remaining months of the current fiscal year. Sources told Business Recorder on Wednesday that the Board is examining the proposal to enhance withholding tax on non-essential items on which regulatory duty or additional customs duty has been imposed more... (BR)

Draft Petroleum Policy 2008-09 approved
Advisor to Prime Minister on Petroleum Dr Asim Hussain on Tuesday formally approved new Petroleum Policy Draft for the financial year 2008-09. Well-placed sources of Ministry of Petroleum informed Online that Dr Hussain has formally approved the Petroleum Policy Draft for the financial year 2008-09. They said that the final approval will be made during federal cabinet meeting on January 09 more... (FD)

Zardari and Karzai hold second exclusive meeting
President Asif Ali Zardari and his Afghan counterpart Hamid Karzai held another exclusive meeting on Wednesday, and discussed matters of interest between the two neighbourly countries. The meeting that took place at breakfast was the second one-on-one meeting in two days, that focused on discussing political and security situation in the region more... (BR)

India says all options open to dismantle terror groups
India said on Wednesday it would keep all options open to dismantle "terror outfits" after the Mumbai attacks, raising the rhetoric against its neighbour after New Delhi released evidence blaming Pakistan militants. "I say we are keeping all options open," Indian Foreign Minister Pranab Mukherjee told Times Now television more... (BR)

Prime Minister sacks advisor on national security
Prime Minister Yousuf Raza Gilani on Wednesday sacked his National Security Advisor Mehmood Ali Durrani following his (Durrani's) statement given to media admitting that Ajmal Kasab is a Pakistani national. The Prime Minister removed Durrani for giving statement to the Press without taking him into confidence over this sensitive issue negating Pakistan's stance on Mumbai carnage more... (BR)

sector Briefing

Decline witnessed in bank deposits
The banking industry deposits witnessed a significant decline of Rs 124 billion in third quarter of 2008, despite the relatively steep rise in weighted average return on deposits, industry sources said. They said that several factors contributed to the deceleration of deposit including high inflationary pressure, high deposit growth in previous years, depreciating Pak rupee value and significant raise in external account outflows more... (BR)

Government to raise margins of OMCs, petroleum dealers
The government is to increase Oil Marketing Companies (OMCs) margins by 12.5 per cent and 25 per cent per litre for petroleum dealers as both the stakeholders have given tough time to Islamabad after reduction in their profits, well-placed sources told Business Recorder on Wednesday more... (BR)

CBanks/DFIs advised to submit annual statement(s)Calculation of Capital Adequacy Ratios
State Bank of Pakistan has advised all banks/DFIs to submit annual statement(s) on calculation of their Capital Adequacy Ratios under Basel-II, on consolidated as well as standalone basis, duly certified by their external auditors in addition to the quarterly statements submitted under the referred circular 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