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May 26, 2009

Statistics
KSE 100 Index
Previous Index
7,146.24
Current Index
7,173.57
Change %
0.38%
YTD (CY09)
22.30%
YTD (FY09)
(41.60)%

International Indicates
 
Close
Percentage
BSE-30
13,913.22
0.19%
HANGSENG
17,121.82.
0.35%
NIKKEI 255
9,347.00
1.30%
FTSE
4,365.29.
0.50%
DJI
8,277.32
(0.18)%
SSEC
2,610.01
0.48%
NASDAQ
1,692.01
(0.19)%

S.C.R.A
22-05-2009
6.99
May-09
(2.15)
YTD
(578.95)

Money Market Updates
Tbill Cut-off
 
1 year
13.23%
6 month
13.11%
KIBOR (3 months)
13.72%
KIBOR (6 months)
13.76%
PIB (10 years)
12.56%

Exchange Rates
Rs/US
80.40
Rs/UK
127.53
Rs/EURO
112.48
Rs/OMAN RIYAL
210.68

commodities
Oil
$60.94/barrel
Oil Change in %
(1.18)%
Gold
$954.40/ounce
Gold Change in %
(0.47)%

Inflation
CPI Gen. Apr 09(YOY)
17.19%
CPI Gen. (Jul-Apr 09)
22.35%
NFNE Core INFL Apr 09 (YOY)
17.70%
NFNE Core INFL (Jul-Apr 09)
17.80%

Economic Indicators
US$ Reserves (Billion)
11.11
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-Apr 09)
$(14.16)bn
Curr. A/C (Jul-Apr 09)
$(8.55)bn
Remittances (Jul-Apr 09)
$5.36bn
Foreign Investment (Jul-Apr 09)
$2.21bn
All Scheduled Banks Deposit Base (May 16, 08)
Rs.3,953bn

Daily Returns and NAVs
as of May 25, 2009
 
Offer
Redemption
POBOP
50.8763/-
50.3675/-
Daily Return
12.95%
POASF
62.31/-
60.75/-
Daily Return
40.19%
POAIF
56.35/-
54.94/-
Daily Return
42.22%
POAIIF
55.4952/-
54.9402/-
Daily Return
10.12%
POAF
10.9128/-
Daily Return
8.89%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

'Dollar eight billion remittances expected during current fiscal'
Federal Minister for Environment, Hameedullah Jan Afridi has said remittances of overseas Pakistanis are likely to touch $8 billion during the current financial year. He asked the NAVTEC chairman to take the technical and vocational education & training programme forward in accordance with the world market demand to sustain and enhance the level of remittances more... (BR)

No consensus yet on new taxes: budget outlay not finalised so far
The government is yet to finalise the total budget outlay for 2009-10 due to lack of consensus on which new taxes are to be imposed, which taxes to be enhanced and by how much. The budget outlay is likely to be around Rs 2.74 trillion for 2009-10, Rs 211 billion higher than the current financial year; whereas expenditure is estimated at Rs 2.17 trillion as compared to Rs 2.12 trillion for the ongoing fiscal year more... (BR)

Subsidy on electricity being removed, tariff to be raised
Tariff hikes of around 10 per cent are expected this July as the govt gears up to eliminate subsidies next year more... (D)

Pakistan to wipe out militants, US senators assured
Gilani asked the international community, particularly the US, to do more by assisting the govt in its relief efforts more... (D)

Troops take over Maalam Jabba
‘It may take seven to 10 days to clear Mingora of militants:’ military spokesman Major-General Athar Abbas more... (D)

India receives its first AWACS plane
India on Monday took delivery of its first Airborne Warning and Control System (AWACS) plane, as part of a deal with Israel worth more than one billion dollars, officials said. The delivery is seen as part of India's quest for air dominance over arch rival Pakistan as well as a milestone in growing military ties with Israel more... (BR)

sector Briefing

IPI deal to be finalised in a month
Following settlement of gas price issue at 80 percent of crude, Pakistan and Iran are expected to finalise the deal on Iran-Pakistan-India (IPI) gas pipeline project in Turkey within a month more... (BR)

Decline in oil and gas production
Pakistan produced an average 66,000 barrels per day (bpd) of crude oil during the first ten months of the ongoing fiscal (Jul-Apr 2009), five percent less than the previous year's 10-month average output of 70,000 bpd. On the other hand, gas production remained flatter with average supply recorded at 3.99 billion cubic feet (bcf) per day in the 10 months of FY09 compared to 3.98bcf/day during the similar period of last year more... (BR)

DAP offtake jumps ahead of KharifM Yasir Yousuf
Fertiliser sales in the country continue to soar as farmers demand more inputs to meet the requirements of the upcoming Kharif crop more... (FD)

 
(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