BasedLine
LOGO
June 11, 2009

Statistics
KSE 100 Index
Previous Index
7,086.78
Current Index
7,047.25
Change %
(0.56)%
YTD (CY09)
20.20%
YTD (FY09)
(42.70)%

International Indicates
 
Close
Percentage
BSE-30
15,466.81
2.25%
HANGSENG
18,785.66
4.03%
NIKKEI 255
9,991.49
2.09%
FTSE
4,436.75
0.73%
DJI
8,739.02
(0.27)%
SSEC
2,816.25
1.02%
NASDAQ
1,853.08
(0.38)%

S.C.R.A
09-06-2009
(4.60)
June-09
(11.18)
YTD
(596.65)

Money Market Updates
Tbill Cut-off
 
1 year
13.24%
6 month
13.14%
KIBOR (3 months)
13.43%
KIBOR (6 months)
13.51%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
80.90
Rs/UK
131.96
Rs/EURO
113.80
Rs/OMAN RIYAL
211.09

commodities
Oil
$72.09/barrel
Oil Change in %
1.07%
Gold
$956.70/ounce
Gold Change in %
0.21%

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)
11.52
GDP Growth FY09E
4.2%
Per Capita Income
$1,085
Population
165.17mn
Trade Deficit (Jul-May 09)
$(15.22)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 (June 06, 08)
Rs.4,030bn

Daily Returns and NAVs
as of June 10, 2009
 
Offer
Redemption
POBOP
50.7917/-
50.2838/-
Daily Return
10.78%
POASF
61.70/-
60.16/-
Daily Return
(145.03)%
POAIF
56.49/-
55.08/-
Daily Return
(105.72)%
POAIIF
55.6954/-
55.1384/-
Daily Return
5.79%
POAF
10.9069/-
Daily Return
13.41%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Scope of sales tax on advertising to be enlarged
The methodology of sales tax on advertising aired on electronic media is expected to undergo a change whereby liability for payment and deposit will be on the client instead of broadcaster. Under the Provincial Sales Tax Ordinances, sales tax on print media as well as hoarding board, pole signs, sign boards and shop boards is also expected to be taxed more... (BR)

Inflation dips to 14.39pc in MayGhulam Raza Rajani
Inflationary pressures finally tamed in May as growth in consumer prices eased to 14.39 per cent --the lowest in FY09. Data released by the Federal Bureau of Statistics shows CPI inflation rose to an average 21.55 per cent for the first eleven months of ongoing fiscal year (11MFY09), after food and fuel prices stabilised during the period more... (FD)

Forex dealers' exchange exposure limit raised
The State Bank of Pakistan, increasing the foreign exchange exposure limit (FEEL) of authorised dealers by 5 percent, to 20 percent, of their Paid-up Capital, has announced thaat it would review it annually on the basis of annual audited accounts of the dealers more... (BR)

US amendment seeks Pakistan reforms to curb extremism
The bill will fund the administration’s Pakistan funding requests while calling for a comprehensive implementation plan more... (D)

US asks India to resume talks with Pakistan
A senior US official on Wednesday pressed India to resume talks with Pakistan but was told that Islamabad should do more first to prosecute the Mumbai terror suspects that New Delhi says are sheltered across the border more... (D)

APC on Balochistan shortly, says PM
Prime Minister Syed Yousuf Raza Gilani has said Pakistan can't afford mid-term elections, while Balochistan issues would be resolved through an APC that would be convened after finalising homework more... (FD)

sector Briefing

Petroleum ministry proposes 1 to 10 percent gas tariff reduction
The Petroleum Ministry has proposed gas tariff reduction by 1-10 percent for different slabs of consumers in line with fall in global oil prices. The proposed reduction will be implemented after the Prime Minister's approval effective July 1, 2009, sources said more... (BR)

Rules ready to reduce capital market risks
The Securities and Exchange Commission of (SECP) has drafted rules and regulations to reduce capital market risk and improve working of financial intermediaries. According to the Economic Survey 2008-09, the SECP has developed a new risk-based Capital Adequacy Regime (CAR) in line with international best standards and practices for determination of capital adequacy, which would accurately reflect the risk profile of an intermediary more... (BR)

Zardari seeks banking sector help to fight poverty
President Asif Ali Zardari on Wednesday called upon entrepreneurs from banking and financial sector to assist the government in its fight against poverty. "Winning the war against militancy demands that we also win the war against poverty," the President told a group of prominent bankers adding, "in this war the bankers and banking sector has a vital role to play." 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