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June 02, 2009

Statistics
KSE 100 Index
Previous Index
7,276.61
Current Index
7,210.34
Change %
(0.91)%
YTD (CY09)
22.90%
YTD (FY09)
(41.30)%

International Indicates
 
Close
Percentage
BSE-30
14,840.63
1.47%
HANGSENG
18,888.59
4.00%
NIKKEI 255
9,677.75
1.60%
FTSE
4,506.19
2.00%
DJI
8,721.44
2.60%
SSEC
2,721.28
3.36%
NASDAQ
1,828.68
3.06%

S.C.R.A
29-05-2009
2.56
May-09
(8.67)
YTD
(585.47)

Money Market Updates
Tbill Cut-off
 
1 year
13.23%
6 month
13.11%
KIBOR (3 months)
13.72%
KIBOR (6 months)
13.74%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
80.90
Rs/UK
131.32
Rs/EURO
114.49
Rs/OMAN RIYAL
211.21

commodities
Oil
$68.36/barrel
Oil Change in %
(0.32)%
Gold
$977.80/ounce
Gold Change in %
(0.22)%

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)
11.19
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 23, 08)
Rs.3,991bn

Daily Returns and NAVs
as of June 01, 2009
 
Offer
Redemption
POBOP
50.8610/-
50.3524/-
Daily Return
9.61%
POASF
61.95/-
60.40/-
Daily Return
(60.13)%
POAIF
56.33/-
54.92/-
Daily Return
(15.49)%
POAIIF
55.6181/-
55.0619/-
Daily Return
7.17%
POAF
10.8678/-
Daily Return
29.17%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Rs 2.9 trillion outlay for 2009-10 budget: Rs 1,406 billion tax target set, National Assembly body told
The next budget outlay, for financial year 2009-10, will be worth Rs 2.9 trillion, with Rs 1406 billion target to be set for revenue collection, Ministry of Finance told the National Assembly standing committee on finance, sources said more... (BR)

Proposed textile policy aims at $25 billion exports, 2.9 million jobs
Prime Minister Yousuf Raza Gilani on Monday constituted a Cabinet committee to evaluate the proposed textile policy, envisaging specific initiatives, for achieving an export target of $25 billion and creating 2.9 million jobs over the next five years more... (BR)

NEC may approve 3.3 percent growth target
The National Economic Council (NEC) is likely to approve 3.3 percent GDP growth target for the next financial year (2009-10). The growth target of 3.3 percent has been calculated based on 3.8 percent growth rate in agriculture, 1.8 percent in manufacturing and 3.9 percent in services sector in the Annual Plan 2009-10, to be tabled before the NEC for approval on June 4 more... (BR)

Zardari satisfied with successes achieved in war
President Asif Ali Zardari has said that the war against militancy is a total war and each and every section of the society must rise to the occasion to "defeat the mindset that creates and nurtures militancy." He said this while presiding over a high level meeting along with the Prime Minister in the Presidency on Monday to review the law and order situation more... (BR)

US Forces on standby to catch ‘big three': report
They have orders to enter Pakistan if they have authentic information about Osama, Zawahiri or Mullah Omar more... (D)

India casts wary eye on China's role in Pakistan
Washington's focus on Pakistan and economic dependence on China are forcing India to reassess its own place in South Asia, reviving long-standing fears of strategic encirclement by its giant northern neighbour. Analysts say Indian suspicions about China, suppressed during the boom years by burgeoning trade ties, have been stoked by Chinese involvement in Pakistan and a sense that Beijing has replaced India as the favoured friend of the US in the region more... (BR)

sector Briefing

Orascom allowed to conduct due diligence of RBS
The State Bank of Pakistan has in principle granted approval to Orascom Telecom Holdings and Rojhan Capital to conduct due diligence of the Royal Bank of Scotland Limited (formerly ABN Amro Bank Pakistan Limited). The SBP gave the approval on the application of Orascom International Investment Holdings, Egypt, a notice sent to Karachi Stock Exchange (KSE) said here on Monday more... (BR)

OMCs raise furnace oil price by Rs 2,559 per ton
Furnace oil price has gone up by Rs 2,559 per ton due to rising demand and low supply, dealers said. The oil marketing companies including Pakistan State Oil (PSO), Caltex, and Shell on Monday officially announced an increase of Rs 2,559 per ton in the price of furnace oil and started supply at new rates with immediate effect, they said more... (BR)

Unlisted CBL: CTML minority shareholders oppose investment
The minority shareholders of Crescent Textile Mills Limited (CTML) have opposed investment in associated non-listed undertaking of the group as they would have no information on the risk involved, and the offer of investment is also not available to them 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