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January 29, 2009

Statistics
KSE 100 Index
Previous Index
4,972.55
Current Index
5,139.93
Change %
3.37%
YTD (CY09)
(12.40)%
YTD (FY09)
(55.20)%

International Indicates
 
Close
Percentage
BSE-30
9,257.47
2.81%
HANGSENG
12,578.60
- %
NIKKEI 255
8,106.29
0.60%
FTSE
4,295.20
2.40%
DJI
8,375.45
2.46%
SSEC
1,990.70
- %
NASDAQ
1,558.34
3.55%

S.C.R.A
27-01-2009
(1.47)
January 09
(98.47)
YTD
(408.4)

Money Market Updates
Tbill Cut-off
 
1 year
14.21%
6 month
14.01%
KIBOR (3 months)
14.68%
KIBOR (6 months)
15.30%
PIB (10 years)
16.48%

Exchange Rates
Rs/US
79.00
Rs/UK
112.27
Rs/EURO
104.55
Rs/OMAN RIYAL
205.90

commodities
Oil
$42.07/barrel
Oil Change in %
1.18%
Gold
$883.10/ounce
Gold Change in %
(1.82)%

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 28, 2009
 
Offer
Redemption
POBOP
48.1286/-
47.6473/-
Daily Return
22.89%
POASF
51.73/-
50.44/-
Daily Return
277.07%
POAIF
51.49/-
50.20/-
Daily Return
197.38%
POAIIF
52.9647/-
52.4351/-
Daily Return
12.56%
POAF
9.7312/-
Daily Return
14.89%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

SBP likely to maintain tight monetary stance
Federal Information Minister Sherry Rehman's remarks that the Cabinet decided not to increase interest rates due to slight easing of inflation pressure have led to cause a mixed market sentiment. This could be a good news for the business community, as this means no further hike. The funding cost has reached an unacceptable level due to high discount rate and survival of many businesses may be at risk more... (BR)

'Banks losses estimated at $2.2 trillion'
The IMF said Wednesday global banking industry losses may reach 2.2 trillion dollars in the current financial crisis, sharply revising up its previous estimate of 1.4 trillion dollars. The International Monetary Fund said that a deteriorating credit crisis made it to revise its estimate for losses for US-originated credits, largely from the real estate sector, that have hit banks world-wide more... (BR)

Global economic growth to slow to 0.5 percent in 2009: IMF
The embattled world economy is crawling to a halt under the financial crisis and would grow by only 0.5 percent this year, the slowest pace since World War II, the International Monetary Fund said Wednesday. "The world economy is facing a deep recession," the IMF said in an update of November forecasts that shaved about 1.75 point off its prior global growth estimate more... (BR)

Army has the will to crush militancy: Kayani
Chief of the Army Staff General Ashfaq Parvez Kayani visited Swat on Wednesday and gave fresh directives for the operation in the volatile valley more... (D)

Gilani urges Obama to respect Pakistan's sovereignty
Calling on President Barack Obama to respect Pakistan’s sovereignty, Prime Minister Yousuf Raza Gilani urged the US administration on Wednesday to stop drone attacks in Fata more... (D)

US resolve on test in Pakistan, says Mullen
“Some level of stability, no safe havens, reasonable development… nuclear weapons not a significant concern in Pakistan,” said America’s top military official when asked what would constitute success for him in the South Asian region more... (D)

sector Briefing

MGCL investment in Yemen linked with OMV share in Pakistan
Mari Gas Company Limited (MGCL) is unlikely to be allowed to invest $7.660 million in Yemen for acquiring 20 percent share in block under joint venture deal, until its partner company, OMV, brings investment of $14.167 million to Pakistan first, official sources told Business Recorder here on Wednesday more... (BR)

Ogra raises six gas fields wellhead prices
The Oil and Gas Regulatory Authority (Ogra) has raised wellhead gas price of six gas producing fields, from 14.3 to 15.5 percent, for the second half of current financial year, effective from January 1, 2009. Ogra has issued a notification in this regard more... (BR)

JS Bank plans to open 80 new conventional and sub-branches in 2009
JS Bank Limited plans to open 80 new conventional and sub-branches in 2009, which will bring the total number of branches to 119 in 30 cities across the country, says a press release 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