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May 12, 2009

Statistics
KSE 100 Index
Previous Index
7,129.51
Current Index
7,122.92
Change %
(0.09)%
YTD (CY09)
21.40%
YTD (FY09)
(42.00)%

International Indicates
 
Close
Percentage
BSE-30
11,682.99
(1.63)%
HANGSENG
17,087.95.
(1.74)%
NIKKEI 255
9,451.98
0.20%
FTSE
4,435.50
(0.60)%
DJI
8,418.77
(1.82)%
SSEC
2,579.75
(1.75)%
NASDAQ
1,731.24
(0.45)%

S.C.R.A
08-05-2009
(1.22)
May-09
0.58
YTD
(575.89)

Money Market Updates
Tbill Cut-off
 
1 year
13.30%
6 month
13.19%
KIBOR (3 months)
13.26%
KIBOR (6 months)
13.35%
PIB (10 years)
12.42%

Exchange Rates
Rs/US
80.40
Rs/UK
122.52
Rs/EURO
109.83
Rs/OMAN RIYAL
209.69

commodities
Oil
$58.25/barrel
Oil Change in %
(0.43)%
Gold
$913.30/ounce
Gold Change in %
(0.02)%

Inflation
CPI Gen. Apr 09(YOY)
17.19%
CPI Gen. (Jul-Apr 09)
22.35%
NFNE Core INFL Mar 09 (YOY)
18.50%
NFNE Core INFL (Jul-Mar 09)
17.90%

Economic Indicators
US$ Reserves (Billion)
11.11
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Mar 09)
$(12.71)bn
Curr. A/C (Jul-Mar 09)
$(7.65)bn
Remittances (Jul-Apr 09)
$5.36bn
Foreign Investment (Jul-Mar 09)
$2.08bn
All Scheduled Banks Deposit Base (May 02, 08)
Rs.3,904bn

Daily Returns and NAVs
as of May 11, 2009
 
Offer
Redemption
POBOP
50.2612/-
49.7586/-
Daily Return
19.26%
POASF
61.30/-
59.77/-
Daily Return
28.57%
POAIF
55.88/-
54.48/-
Daily Return
35.84%
POAIIF
55.1207/-
54.5695/-
Daily Return
7.46%
POAF
10.7998/-
Daily Return
58.12%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Foreign remittances up 19.49 percent in 10 months
Remittances sent home by overseas Pakistanis are continuously showing rising trend, as an amount of $6,355.58 million was received in the first 10 months (July-April) of the current fiscal year, registering an increase of $1,036.5 million or 19.49 per cent against the same period of the corresponding year more... (BR)

CPI inflation up by 22.35 percent
The Consumer Price Index (CPI) inflation surged by 22.35 percent during July-April 2008-09 against 10.27 percent in the same period of 2007-08. According to Federal Bureau of Statistics (FBS) figures released here, during April 2009, food inflation stood at 17.04 percent, whereas prices of non-perishable items surged by 16.22 percent and perishable items by 22.71 percent over April 2008 more... (BR)

July-March period: LSM sector growth depicts eight percent decline
Large-ccale manufacturing (LSM) sector growth posted a broad-based decline of 8 percent during nine months of the current fiscal year 2008-09 as compared to 6 percent rise during the same period of last fiscal year. Economists said that greater energy crisis during last two years, rise in input cost and lower and slow domestic and external demand were responsible for the decline in production of LSM sector more... (BR)

Gilani agrees to convene all-parties conference
PM's call for a united fight against militants received a mixed reception in NA with opposition calls for more information more... (D)

Troops heading towards Mingora from two directions:
Army ready for house-to-house combat: ISPR
The military is prepared for house-to-house combat to flush out the Taliban from their urban strongholds in Swat more... (DT)

sector Briefing

Bosicor clarification
Apropos a news item "BII signs accord to acquire BPL shares" carried by Business Recorder on May 06, 2009, Bosicor Pakistan Limited on Monday clarified that Byco Industries Incorporated (BII) had also proposed to purchase 136,510,046, representing 34.81 percent shares in Bosicor Pakistan Limited (BPL) through public offer under the Listed Companies (Substantial Acquisition of Voting Shares and Take-overs) Ordinance, 2002 ("Transaction") more... (BR)

Parco's ex-refinery pricing formula may be extended
The government may extend the ex-refinery pricing formula for Pak Arab Refinery Limited (Parco), based on guaranteed minimum 25 percent rate of return on net equity. Sources said that the tenure of ex-oil refinery pricing formula, based on 25 percent rate of return equity, expired on December 31, 2008 and now the Parco administration had demanded extension of the said formula more... (BR)

Govt will not subsidise power, oil in the upcoming budget
To keep the budget deficit at sustainable level and divert subsidy amount to other priority sectors the government would not allocate money for fuel subsidy and power subsidy incase oil price and power production prices increase in 2009-10, official sources told Daily Times on Monday more... (DT)

 
(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