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February 19, 2009

Statistics
KSE 100 Index
Previous Index
5,839.63
Current Index
5,880.14
Change %
0.69%
YTD (CY09)
0.30%
YTD (FY09)
(52.20)%

International Indicates
 
Close
Percentage
BSE-30
9,015.18
(0.22)%
HANGSENG
13,016.00
0.55%
NIKKEI 255
7,534.44
(1.45)%
FTSE
4,006.83
(0.68)%
DJI
7,555.63
0.04%
SSEC
2,209.86
(4.72)%
NASDAQ
1,467.97
(0.18)%

S.C.R.A
17-02-2009
(3.33)
February 09
(48.63)
YTD
(498.73)

Money Market Updates
Tbill Cut-off
 
1 year
14.21%
6 month
14.01%
KIBOR (3 months)
13.89%
KIBOR (6 months)
14.25%
PIB (10 years)
14.94%

Exchange Rates
Rs/US
80.00
Rs/UK
113.92
Rs/EURO
100.76
Rs/OMAN RIYAL
208.64

commodities
Oil
$34.65/barrel
Oil Change in %
0.09%
Gold
$981.30/ounce
Gold Change in %
0.32%

Inflation
CPI Gen. Jan 09(YOY)
20.50%
CPI Gen. (Jul-Jan 09)
23.85%
NFNE Core INFL Jan 09 (YOY)
18.90%
NFNE Core INFL (Jul-Jan 09)
17.60%

Economic Indicators
US$ Reserves (Billion)
10.29
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Jan 09)
$(10.73)bn
Curr. A/C (Jul-Jan 09)
$(7.75)bn
Remittances (Jul-Jan 09)
$4.27bn
Foreign Investment (Jul-Jan 09)
$2.23bn
All Scheduled Banks Deposit Base (Feb 14, 08)
Rs.3,861bn

Daily Returns and NAVs
as of Feb 18, 2009
 
Offer
Redemption
POBOP
48.0585/-
47.5779/-
Daily Return
12.89%
POASF
54.55 /-
53.19 /-
Daily Return
6.86%
POAIF
53.18 /-
51.85 /-
Daily Return
(21.11)%
POAIIF
53.5325/-
52.9972/-
Daily Return
10.66%
POAF
9.8778/-
Daily Return
15.93%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

74pc reduction in C/A deficit YoYIncreases by 1.6pc during 7MFY09
Current account deficit of the country has significantly shrunk by 74 per cent to $411 million in January 09, compared with $1.58 billion in the month of January 08 more... (FD)

13 percent fall in foreign investment
Net foreign investment has declined by 13 percent during the first seven months of the current fiscal year mainly due to massive outflow from portfolio investment due to of poor law and order situation and political instability more... (BR)

State Bank auctions Rs 20 billion PIBs
As per expectation overlying participation witnessed in the auction of Pakistan Investment Bonds (PIBs) after 2004 due to the expected cut in the interest rate in April, the State Bank of Pakistan (SBP) on Wednesday received Rs 55.99 billion worth bids against the target of Rs 20 billion for the auction of 3-, 5-, 7-, 10-, 15-, 20- and 30-year long-term investment bonds more... (BR)

Pakistani officials on board for drone attacks: WSJ
Although Pakistan's leaders have publicly denounced US missile strikes as an attack on the country's sovereignty, but privately Pakistani military and intelligence officers are aiding these attacks and have given significant support to recent US missions, the Wall Street Journal reported Wednesday quoting officials from both countries more... (D)

India warns of danger from resurgent Taliban
India denounced the Taliban as a "danger to humanity" days after Pakistan struck a deal with militants allowing Sharia Law in Swat region. When asked to comment late Tuesday on Islamabad's pact with pro-Taliban militants, Indian Foreign Minister Pranab Mukherjee insisted the Taliban was nothing short of a "terrorist organisation: more... (BR)

sector Briefing

Finance to pay Pepco January-June cash shortfall
The Ministry of Finance has agreed to pay a cash shortfall of Pakistan Electric Power Company (Pepco) from January 2009 onward on the instructions of Prime Minister Yousaf Raza Gilani, sources told Business Recorder. Pepco's monthly cash shortfall is believed to be around Rs 6.2 billion, which implies that the federal government will pay Rs 31 billion till the end of the current fiscal year, sources said more... (BR)

Talks deadlocked on deemed duty replacement
Talks between oil refineries and the government over the issue of replacing deemed duty with processing fee have met a deadlock as the refineries have refused to accept processing fee offered by government from $3.5 to $5 per barrel crude oil, and demanded raise in deemed duty from 7.5 to 10 percent more... (BR)

KESC fails to deposit Rs 900 million taxes collected through bills
Director-General, Withholding tax (DGW) has detected Rs 900 million tax evasion by Karachi Electric Supply Company (KESC), collected through electricity bills during September 2008 to January, 2009. Sources told Business Recorder on Wednesday that KESC had collected some Rs 900 million tax from electricity consumers during last five months and had not deposited in the exchequer more... (BR)

 
(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 Manager
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