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April 10 , 2009

Statistics
KSE 100 Index
Previous Index
7,340.30
Current Index
7,295.98
Change %
(0.60)%
YTD (CY09)
24.40%
YTD (FY09)
(40.60)%

International Indicates
 
Close
Percentage
BSE-30
10,803.86
0.57%
HANGSENG
14,901.41.
2.50%
NIKKEI 255
8,916.06
3.70%
FTSE
3,983.71
1.50%
DJI
8,083.38
3.14%
SSEC
2,379.88
1.38%
NASDAQ
1,652.54
3.89%

S.C.R.A
08-04-2009
(0.21)
April 09
(6.52)
YTD
(548.07)

Money Market Updates
Tbill Cut-off
 
1 year
12.97%
6 month
12.76%
KIBOR (3 months)
13.36%
KIBOR (6 months)
13.52%
PIB (10 years)
12.74%

Exchange Rates
Rs/US
80.50
Rs/UK
118.42
Rs/EURO
106.73
Rs/OMAN RIYAL
210.64

commodities
Oil
$52.24/barrel
Oil Change in %
5.79%
Gold
$881.00/ounce
Gold Change in %
(0.26)%

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)
11.17
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 28, 08)
Rs.3,875bn

Daily Returns and NAVs
as of Apr 09, 2009
 
Offer
Redemption
POBOP
49.6366/-
49.1402/-
Daily Return
9.89%
POASF
60.87/-
59.35/-
Daily Return
(116.48)%
POAIF
55.67/-
54.28/-
Daily Return
(100.59)%
POAIIF
54.5182/-
53.9730/-
Daily Return
8.09%
POAF
10.7159/-
Daily Return
(17.50)%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Kibor shoots up by 59 bps despite over 100 bps hike in treasury-bill yields
In a knee-jerk reaction to the results of the last treasury bill auction, Kibor went up by 59 basis points despite over 100 bps hike in T-bill yields. It appears that market players are now in a comfort zone as SBP adhered to the concept of sanctity of the target and has been injecting liquidity at a rate between 12.50 and 13 percent more... (BR)

Non-performing loans register hefty Rs72.3 billion increase
The NPL to advance ratio has increased for all sectors of the economy except for the agribusiness: SBP report more... (D)

Purchase of government units: different firms borrowed Rs 93.8 billion from banks, FIs
Different firms have borrowed Rs 93.8 billion from commercial banks during 2000 to 2008 for buying different government units privatised during this period. This was stated by the Finance Minister in a written reply to a question here in National Assembly on Thursday more... (BR)

Sufi winds up Swat peace camp, wants law enforced
The chief of Tehrik-i-Nifaz-i-Shariat Muhammadi announced on Thursday that he was winding up his peace camp in Swat and said he took the decision because President Asif Ali Zardari had failed to enforce Islamic law in the valley more... (D)

Brown calls Zardari
British Prime Minister Gordon Brown called President Asif Ali Zardari on Thursday. During the telephonic conversation, Prime Minister Brown and President Zardari discussed matters relating to bilateral relations as well as the fight against terrorism. The two leaders also discussed the recent developments in Pakistan. Both sides agreed to meet soon more... (BR)

12 arrested mostly Pakistanis: Britain swoops on major terrorist plot: Brown
British police acted to stop a major terrorist plot by arresting 12 mostly Pakistani suspects across north-west England, Prime Minister Gordon Brown said on Thursday. His comments came after Britains top anti-terror chief resigned following a security blunder that almost torpedoed a surveillance operation which had homed in on the suspects, seized in hastily-organised raids on Wednesday more... (BR)

sector Briefing

Atlas Bank, SPCB agree on merger
The board of directors of Saudi Pak Commercial Bank (SPCB) and Atlas Bank have agreed in principle to a potential merger of the two banks. The majority shareholders of the SPCB entered into a Memorandum of Understanding with the sponsor shareholders of Atlas Bank Limited for merger of Atlas into SPCB more... (BR)

Power and gas sectors: end to cross subsidy proposed
Planning Commission has proposed end to the cross subsidy in power and gas sectors to provide relief to the industry by October 2009. Sources told Business Recorder that the Energy Efficiency and Conservation Consultative Group held its meeting in Planning Commission on March 31 and proposed energy efficiency sector roadmap more... (BR)

Depreciation deduction: FBR proposes conditions for leasing, Modaraba companies
The Federal Board of Revenue has proposed conditions for the leasing and Modaraba companies to claim deduction for depreciation on lease of depreciable assets under income tax law. According to the proposed amendment in the Income Tax Rules 2002, the FBR would replace rule 224 of the Income Tax Rules with the new one 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