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March 05 , 2009

Statistics
KSE 100 Index
Previous Index
5,596.49
Current Index
5,815.43
Change %
3.91%
YTD (CY09)
(0.80)%
YTD (FY09)
(52.70)%

International Indicates
 
Close
Percentage
BSE-30
8,446.49
0.23%
HANGSENG
12,331.15
2.47%
NIKKEI 255
7,290.96
0.85%
FTSE
3,645.87
3.81%
DJI
6,875.84
2.23%
SSEC
2,198.11
6.12%
NASDAQ
1,353.74
2.48%

S.C.R.A
03-03-2009
1.62
March 09
(1.80)
YTD
(508.51)

Money Market Updates
Tbill Cut-off
 
1 year
12.99%
6 month
12.96%
KIBOR (3 months)
11.95%
KIBOR (6 months)
12.54%
PIB (10 years)
14.94%

Exchange Rates
Rs/US
80.10
Rs/UK
112.37
Rs/EURO
100.16
Rs/OMAN RIYAL
208.91

commodities
Oil
$44.96/barrel
Oil Change in %
(0.93)%
Gold
$912.50/ounce
Gold Change in %
0.64%

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)
10.17
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 28, 08)
Rs.3,897bn

Daily Returns and NAVs
as of Mar 04, 2009
 
Offer
Redemption
POBOP
48.9803/-
48.4905/-
Daily Return
21.99%
POASF
55.31 /-
53.93 /-
Daily Return
211.02%
POAIF
53.69 /-
52.35 /-
Daily Return
62.86%
POAIIF
53.9955/-
53.4555/-
Daily Return
11.01%
POAF
10.0680/-
Daily Return
15.61%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

SBP accepts Rs 15.325 billion bids for Ijara Sukuk
Heavy participation was witnessed in the auction of 3-year Government of Pakistan Ijara Sukuk bond, however the State Bank of Pakistan has accepted bids worth Rs 15.325 billion for the sale of Sukuk bond. Tender for Sale of 3-Year Government of Pakistan Ijara Sukuk was invited by the State Bank of Pakistan, Karachi through designated primary dealers from March 3 to 4, 2009 more... (BR)

FBR reports 21 pc increase in 8-month tax collection
The Federal Bureau of Revenue (FBR) in a statement said tax collection in the eight months ended Feb. 28, climbed by 21 per cent to Rs706.4 billion compared with Rs585.3 billion in the corresponding period last year. However, FBR has still been lagging far behind its revenue collection target more... (D)

Deferred payment: Pakistan to seek oil and fertiliser facility from Saudi Arabia
Pakistan will seek oil and fertiliser import facility on deferred payment from Saudi Arabia to boost foreign exchange reserves. Finance ministry team led by Advisor to the Prime Minister on Finance Shaukat Tarin will leave for Saudi Arabia on March 7, 2009. Discussions on securitisation of workers remittances is also on the agenda more... (BR)

Obama voices worry over Lahore attackUS policy towards Afghanistan, Pakistan under review
US President Barack Obama has expressed deep concern about an attack on the Sri Lankan cricket team in Pakistan, alleging the country's frontier regions still remain safe havens for al Qaeda terrorists and his government was reviewing policies towards that region more... (FD)

Nawaz warns Zardari of indefinite agitation
The PML-N chief addressed the lawyers conference at which the schedule of the long march was also announced more... (D)

'Failure not an option'
"Failure is not an option" in Pakistan's battle against terrorism, President Asif Ali Zardari said in an op-ed piece published in Wednesday's Wall Street Journal. "This is an existential battle. If we lose, so too will the world. Failure is not an option," the president said a day after a Mumbai-style attack on members of Sri Lanka's cricket team in Lahore killed eight people including six Pakistani policemen and two civilians more... (BR)

sector Briefing

MoP agrees to raise deemed duty for oil refineries:
upper cap set at $80 per barrel
The Petroleum Ministry on Tuesday agreed to increase deemed duty from 7.5 percent to 10 percent for oil refineries with an upper cap at $80 per barrel crude oil price in the global market. According to new proposed formula, oil refineries will not be able to get 10 percent deemed duty if crude oil price exceeds $80 per barrel in international market more... (BR)

Power tariff increased by six paisa per unit
The Federal government has increased power tariff for Pepco's Distribution Companies (Discos) by six paisa per unit for domestic, commercial and industrial consumers effective February 25 on the insistence of World Bank (WB), well-informed sources told Business Recorder on Wednesday. However, agriculture consumers and those, who use up to 50 units per month, have been exempted from this raise more... (BR)

IPI project: Iran reluctant to scale down gas price
Iran is reluctant to scale down the gas price from 78 to 70 percent of the crude oil price in the international market under Iran-Pakistan-India (IPI) gas pipeline project. Sources told Business Recorder that Pakistan in a letter addressed to Iran had requested a reduction in its offered gas price from 78 percent of crude oil price to 70 percent to make it economically feasible for Pakistan more... (BR)

 
(D): Dawn, (BR): Business Recorder, (FD): The Financial Daily, (DT) Daily Times
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