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March 27 , 2009

Statistics
KSE 100 Index
Previous Index
6,674.20
Current Index
6,608.49
Change %
(0.98)%
YTD (CY09)
12.70%
YTD (FY09)
(46.20)%

International Indicates
 
Close
Percentage
BSE-30
10,003.10
3.47%
HANGSENG
14,108.98.
3.60%
NIKKEI 255
8,636.33
1.80%
FTSE
3,925.20
0.60%
DJI
7,924.56
2.25%
SSEC
2,361.70
3.06%
NASDAQ
1,587.00
3.80%

S.C.R.A
25-03-2009
0.60
March 09
(21.94)
YTD
(528.65)

Money Market Updates
Tbill Cut-off
 
1 year
11.85%
6 month
11.76%
KIBOR (3 months)
12.25%
KIBOR (6 months)
12.51%
PIB (10 years)
12.41%

Exchange Rates
Rs/US
80.45
Rs/UK
117.49
Rs/EURO
109.22
Rs/OMAN RIYAL
210.59

commodities
Oil
$53.73/barrel
Oil Change in %
(1.12)%
Gold
$936.20/ounce
Gold Change in %
(0.64)%

Inflation
CPI Gen. Feb 09(YOY)
21.10%
CPI Gen. (Jul-Feb 09)
23.50%
NFNE Core INFL Feb 09 (YOY)
18.90%
NFNE Core INFL (Jul-Feb 09)
17.80%

Economic Indicators
US$ Reserves (Billion)
10.26
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Feb 09)
$(11.62)bn
Curr. A/C (Jul-Feb 09)
$(7.46)bn
Remittances (Jul-Feb 09)
$4.92bn
Foreign Investment (Jul-Feb 09)
$1.89bn
All Scheduled Banks Deposit Base (Mar 21, 08)
Rs.3,876bn

Daily Returns and NAVs
as of Mar 26, 2009
 
Offer
Redemption
POBOP
49.4006/-
48.9066/-
Daily Return
7.11%
POASF
58.76/-
57.29/-
Daily Return
(221.63)%
POAIF
54.46/-
53.10/-
Daily Return
(143.78)%
POAIIF
54.5216/-
53.9764/-
Daily Return
9.26%
POAF
10.6677/-
Daily Return
14.32%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

World Bank approves $500 million credit
The World Bank on Thursday approved a $500 million line of credit for Pakistan to help stabilise the South Asian economy in the face of political and economic turmoil and investor uncertainties. World Bank country director for Pakistan Yusupha Crookes said policies adopted so far by the government had helped rebuild foreign exchange reserves and lowered inflation more... (BR)

Pakistans GDP growth would be just 2.5 percent in fiscal year 2009: Escap
Economic and Social Commission for Asia and Pacific (Escap) has projected that Pakistans growth rate would be just 2.5 percent in fiscal year 2008-09 while economists feared that it could be even lower than this. The Escap endorsed 2.5 percent growth rate revised by the IMF for Pakistan for 2008-09 from 3.5 percent estimated earlier for the year more... (BR)

Reserves rise sharply on inflows
The State Bank of Pakistan announced that foreign exchange reserves have risen to $10.26 billion more... (D)

Obama telephones Zardari
US President Barack Hussain Obama on Thursday telephoned President Asif Ali Zardari in Quetta and discussed bilateral relations, situation in the region as well as other matters of mutual interest. According to a statement here, during the telephonic conversation, Obama and Zardari discussed the Friends of Democratic Pakistan forum initiative, aimed at promoting and strengthening democracy in Pakistan more... (BR)

Pakistan, US coordinating drone attacks: WSJ
Pakistani officials are seeking to broaden the scope of the program to target extremists, the newspaper reported more... (D)

Pakistan awaits new US war strategy: foreign office
Foreign Office Spokesman Abdul Basit said that Pakistan awaits the new US war strategy to be announced on March 27 (Friday), saying that hopefully it would review its policy about the drone attacks within the Pakistani territory. In his weekly media briefing Thursday, the spokesman said that Pakistan would consider its new policy when time comes if the US did not change its strategy as far as the drone attacks are concerned more... (BR)

sector Briefing

SECP steps to boost mutual funds industrys working
The Securities and Exchange Commission of Pakistan (SECP) has taken new effective measures to facilitate the mutual funds industry and uniform dealing with the unit-holders by asset management companies. The SECP on Thursday issued circular 11 of 2009 to enhance investors confidence and facilitate the mutual funds industry in line with the international best practices more... (BR)

Reduction in cement prices likely from April
The Ministry of Industries and Production has indicated the possibility of a substantial reduction in cement prices from April 1, 2009 after the dealers clear their existing stocks. We are expecting a reasonable reduction in cement prices within a couple of days, as the dealers have asked the factories to give them time till March 31 to clear their existing stocks, a top official in the Ministry told Business Recorder more...

Bank Alfalahs gross profit declines to Rs 1.794 billion
The profit before taxation of Bank Alfalah has declined to Rs 1.794 billion in the year ended December 31, 2008 as compared to Rs 4.535 billion earned in the corresponding period in 2007. The board of directors of the bank in its meeting held on Wednesday at Abu Dhabi recommended bonus shares in the ratio of one share for every eight shares held ie 12.50 per cent subject to shareholders approval in the forthcoming annual general meeting 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