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February 26, 2009

Statistics
KSE 100 Index
Previous Index
5,874.83
Current Index
5,580.78
Change %
(5.01)%
YTD (CY09)
(4.80)%
YTD (FY09)
(54.60)%

International Indicates
 
Close
Percentage
BSE-30
8,902.56
0.91%
HANGSENG
13,005.08
1.60%
NIKKEI 255
7,461.22
2.70%
FTSE
3,848.98
0.85%
DJI
7,270.89
(1.09)%
SSEC
2,206.57
0.27%
NASDAQ
1,425.43
(1.14)%

S.C.R.A
24-02-2009
1.57
February 09
(51.50)
YTD
(501.60)

Money Market Updates
Tbill Cut-off
 
1 year
12.99%
6 month
12.96%
KIBOR (3 months)
13.61%
KIBOR (6 months)
13.98%
PIB (10 years)
14.94%

Exchange Rates
Rs/US
79.80
Rs/UK
115.79
Rs/EURO
102.27
Rs/OMAN RIYAL
208.47

commodities
Oil
$42.77/barrel
Oil Change in %
0.64%
Gold
$952.70/ounce
Gold Change in %
(1.40)%

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 25, 2009
 
Offer
Redemption
POBOP
48.8598/-
48.3712/-
Daily Return
4.00%
POASF
54.18 /-
52.83 /-
Daily Return
(219.76)%
POAIF
53.33 /-
52.00 /-
Daily Return
(70.06)%
POAIIF
53.8867/-
53.3478/-
Daily Return
20.30%
POAF
10.0415/-
Daily Return
15.02%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

IMF scales down growth rate to 2.5 percent: everything went well, says Tarin
IMF has scaled down Pakistan's growth rate at 2.5 percent and tax revenue at Rs 1300 billion, Shaukat Tarin told Business Recorder on Wednesday on concluding his discussions with IMF. "We were hoping to take more time, but everything went well, and they (IMF officials) were very positive", Tarin said from Dubai over phone more... (BR)

IMF to approve $800mn 2nd trancheIMF says SBP policy is fine, rate-cut only after deflation
The International Monetary Fund (IMF) will approve a second $800 million tranche of its $7.6 billon loan to save Pakistan from defaulting on external payments, a senior official said on Wednesday more... (FD)

Pakistan can cut interest rates if inflation falls: IMF
The IMF released a statement in the wake of a 12 day fact-finding mission, and made the case for potential rate cuts more... (D)

Signs of instability grow as Supreme Court disqualifies Sharif brothers:
governor's rule imposed on Punjab
The Supreme Court on Wednesday upheld Lahore High Court's decision to disqualify Nawaz Sharif from contesting elections and, in another decision, annulled the notification declaring Shahbaz Sharif as member of Punjab provincial assembly more... (BR)

Pakistan pushes US for drones
Pakistan's foreign minister said Wednesday that his country has asked the United States to provide unmanned planes that would allow Pakistan to strike extremists hiding in rugged terrain along the Afghan border more... (D)

Kayani calls on Gates
Pakistan's Chief of Army Staff (COAS) General Ashfaq Parvez Kayani, who is currently on an official visit to the United Sates of America, called on Secretary of Defence Robert Gates. According to ISPR here on Wednesday, the Army Chief discussed matters of mutual interest, with particular reference to security situation in the region more... (BR)

sector Briefing

Banks invest Rs138bn in T-bills
Banks invest heavily in T-bills despite a fall of 90 to 101 basis points in the yields of three, six and 12-month maturity papers more... (D)

Hubco declares 13.5 percent interim dividend
The profit after tax of Hub Power Company Limited (Hubco) increased to Rs 1.691 billion in the half-year period ended on December 31, 2008, as compared to Rs 1.339 billion earned in the corresponding period in 2007. The earning per share of the company increased to Rs 1.46 against Rs 1.16 a year back more... (BR)

IPPs use 50 percent more furnace oil than KESC for power generation
Despite having over 50 percent more power generating capacity than the two furnace oil-based Independent Power Producers (IPPs), the money-crazy Karachi Electric Supply Company (KESC) had used fuel far less than the two IPPs during October-December 2008 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