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January 28, 2009

Statistics
KSE 100 Index
Previous Index
4,815.34
Current Index
4,972.55
Change %
3.26%
YTD (CY09)
(15.20)%
YTD (FY09)
(59.50)%

International Indicates
 
Close
Percentage
BSE-30
9,004.08
3.80%
HANGSENG
12,578.60
- %
NIKKEI 255
8,081.07
4.90%
FTSE
4,194.41
(0.35)%
DJI
8,174.73
0.72%
SSEC
1,990.70
- %
NASDAQ
1,504.90
1.04%

S.C.R.A
26-01-2009
(2.46)
January 09
(97.00)
YTD
(406.93)

Money Market Updates
Tbill Cut-off
 
1 year
14.25%
6 month
14.01%
KIBOR (3 months)
14.70%
KIBOR (6 months)
15.31%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
79.00
Rs/UK
110.91
Rs/EURO
104.55
Rs/OMAN RIYAL
206.57

commodities
Oil
$42.15/barrel
Oil Change in %
1.37%
Gold
$894.30/ounce
Gold Change in %
(0.58)%

Inflation
CPI Gen. Dec 08 (YOY)
23.34%
CPI Gen. (Jul-Dec 08)
24.43%
NFNE Core INFL Dec 08 (YOY)
18.80%
NFNE Core INFL (Jul-Nov 08)
17.10%

Economic Indicators
US$ Reserves (Billion)
9.95
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Dec 08)
$(9.56)bn
Curr. A/C (Jul-Dec 08)
$(7.27)bn
Remittances (Jul-Dec 08)
$3.64bn
Foreign Investment (Jul-Dec 08)
$2.14bn
All Scheduled Banks Deposit Base (Jan 17, 08)
Rs.3,832bn

Daily Returns and NAVs
as of Jan 27, 2009
 
Offer
Redemption
POBOP
48.1014/-
47.6204/-
Daily Return
22.06%
POASF
51.34/-
50.06/-
Daily Return
197.93%
POAIF
51.21/-
49.93/-
Daily Return
132.06%
POAIIF
52.9476/-
52.4181/-
Daily Return
12.57%
POAF
9.7275/-
Daily Return
15.33%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Pakistan should switch from stabilisation mode:
poverty rate may be 40 percent by year-end, says Pasha
Pakistan should switch from stabilisation mode to recovery mode in next few months to avoid a recession becoming a depression and poverty level hitting so high that it starts creating law and order problems, says former finance minister Hafeez A Pasha more... (BR)

Over Rs 42 billion loans written off during last five years: Tarin
Advisor to the Prime Minister on Finance Shaukat Tarin has disclosed here on Tuesday that loans worth over Rs 42 billion had been written off during the last five years. The advisor told the Senate that the government was ready for any probe into this issue by finance committee of the Senate or the National Assembly more... (BR)

Banking spreads tad up in December 08
Banking sector spreads increased to 7.75 per cent for the month of December 2008 as compared to 7.63 per cent in November 2008, reflecting gain of just 12bps, according to the data released by State Bank of Pakistan (SBP) more... (FD)

Gates says US will go after al Qaeda wherever it is
US Defence Secretary Robert Gates said Tuesday the United States will "go after al Qaeda wherever al Qaeda is," and said Washington's position has been relayed to Pakistan. "Both President (George W.) Bush and President (Barack) Obama have made clear we will go after al Qaeda wherever al Qaeda is, and we will continue to pursue that," he told lawmakers more... (BR)

MQM moves Provincial Autonomy Bill in National Assembly
Muttahida Qaumi Movement (MQM) on Tuesday presented Provincial Autonomy Bill (Constitutional Amendment Bill-2009) in the National Assembly, focusing on provincial autonomy by abolishing the concurrent list. The draft bill, moved by Syed Haider Abbas Rizvi, was referred to the concerned standing committee by the Speaker, as Minister did not oppose it for law, Justice and Human Rights Farooq H Naek more... (BR)

Probe report to be shared with India soon, says Zardari
ISLAMABAD, Jan 27: President Asif Ali Zardari said on Tuesday that India would be informed in two to three days about the report of a preliminary investigation prepared on the basis more... (D)

sector Briefing

SBP asks banks to avail 30 percent FSV benefit of collateral
State Bank of Pakistan has allowed the banks to avail 30 percent benefit of Forced Sale Value (FSV) of collateral for calculating provisioning requirement. Banks, at present, had to take 100 percent cash provision. However, the benefit of 30 percent FSV is permissible against pledged stocks and mortgaged commercial and residential properties only more... (BR)

Banks allowed market price prevailing on December 31 for listed securities
In order to avoid subjectivity in mark to market of investments held by banks, the State Bank of Pakistan has allowed banks to use the market price prevailing on December 31st, 2008 for listed securities while preparing their financial statements more... (BR)

Cement exports up 92pc in 1HFY09Pakistan dispatches cement worth $289.2mn
Cement exports recorded a robust growth of 91.69 per cent to $289.217 million during the first six months (July-December) of the current (2008-09) fiscal year as compared to same period last fiscal year 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