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June 12, 2009

Statistics
KSE 100 Index
Previous Index
7,047.25
Current Index
7,091.96
Change %
0.63%
YTD (CY09)
20.90%
YTD (FY09)
(42.30)%

International Indicates
 
Close
Percentage
BSE-30
15,411.47
(0.36)%
HANGSENG
18,791.03
0.03%
NIKKEI 255
9,981.33
(0.10)%
FTSE
4,461.87
0.80%
DJI
8,770.92
0.37%
SSEC
2,797.32
(0.67)%
NASDAQ
1,862.37
0.50%

S.C.R.A
10-06-2009
(7.49)
June-09
(18.69)
YTD
(604.16)

Money Market Updates
Tbill Cut-off
 
1 year
13.24%
6 month
13.14%
KIBOR (3 months)
13.21%
KIBOR (6 months)
13.27%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
80.90
Rs/UK
132.66
Rs/EURO
113.45
Rs/OMAN RIYAL
211.13

commodities
Oil
$72.38/barrel
Oil Change in %
(0.41)%
Gold
$956.00/ounce
Gold Change in %
(0.62)%

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)
11.51
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-May 09)
$7.08bn
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 11, 2009
 
Offer
Redemption
POBOP
50.8081/-
50.3000/-
Daily Return
12.48%
POASF
61.62/-
60.08/-
Daily Return
(48.54)%
POAIF
56.48/-
55.07/-
Daily Return
(6.63)%
POAIIF
55.6856/-
55.1287/-
Daily Return
(6.22)%
POAF
10.9107/-
Daily Return
13.52%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Remittances rise to $7.076 billion in 11 months
Remittances sent by overseas Pakistanis continued to show a rising trend and an amount of $7.07626 billion was received in the first eleven months (July-May) of the current fiscal year 2008-09, showing an increase of $1.17243 billion or 19.86 percent over the same period of the last fiscal year more... (BR)

Rs 2.9 trillion outlay shows Rs 1.4 trillion revenue target: budget deficit estimated at Rs 680 billion
The government is planning to present a budget with total consolidated outlay of Rs 2.9 trillion including Rs 1405-1410 billion tax target for the Federal Board of Revenue. Defence spending would be up to Rs 343 billion and the budget deficit is likely to be Rs 680 billion, with the condition of approval of the Cabinet before the budget announcement, sources told Business Recorder on Thursday more... (BR)

World Bank apprehensions about Tarp removed
Advisor to Prime Minister on Finance Shaukat Tarin on Thursday stated that the government has removed apprehensions of the World Bank on implementation of the Tax Administration Reforms Programme (Tarp) of the Federal Board of Revenue (FBR) more... (BR)

CIA chief says Osama in Pakistan
CIA Director Leon Panetta said on Thursday the US intelligence agency believes al Qaeda leader Osama bin Laden is hiding in Pakistan and hopes joint operations with Pakistani forces will find him. Asked whether he was sure that bin Laden was in Pakistan, Panetta told reporters: "The last information we had, that's still the case." more... (BR)

US House passes bill to triple aid to Pakistan
The $1.5 billion in annual funding includes money for schools, the judicial system, parliament and security agencies more... (D)

Clinton to visit Pakistan to push peace with India
US Secretary of State Hillary Clinton will visit Pakistan next month, as Islamabad sees the Washington’s renewed interest in resumption of peace talks with Delhi as a positive sign more... (D)

sector Briefing

Lucky-KDLB row puts $1 billion cement exports at stake
Cement exporters fear losing their $1 billion markets world over, as the labourers, demanding employment and cess from the former, have detained a foreign ship at Karachi Port. According to sources M/v Bulk Arrow, which had arrived at Berth Number 25 of West Wharf around 11am Tuesday night, was awaiting loading that was denied by the workers of Karachi Dock Labour Board (KDLB) till filing of this report more... (BR)

Finance and insurance sector records negative 1.2 percent growth
Advisor to Prime Minister on Finance Shaukat Tarin said on Thursday that finance and insurance sector registered a negative growth of 1.2 percent in ongoing fiscal year ie 2008-09 whereas real GDP growth stood at 2 percent against 4.1 percent last year more... (BR)

Lack of funds, record investment in NSS: stock, debt markets showing lacklustre behaviour
Pakistan stock and debt markets are showing lacklustre behaviour mainly due to lack of funds and record investment in National Saving Schemes (NSS), as more than Rs 2 billion are being converted to NSS on a daily basis, analysts said. Despite attractive valuations, Pakistan stock market is not performing mainly due to lesser availability of funds, they added 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