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July 01, 2009

Statistics
KSE 100 Index
Previous Index
7,206.17
Current Index
7,162.18
Change %
(0.61)%
YTD (CY09)
22.10%
YTD (FY09)
(41.70)%

International Indicates
 
Close
Percentage
BSE-30
14,493.84
(1.97)%
HANGSENG
18,378.73
(0.81)%
NIKKEI 255
9,958.44
1.80%
FTSE
4,249.21
(1.04)%
DJI
8,447.00
(0.97)%
SSEC
2,959.36
(0.54)%
NASDAQ
1,835.04
(0.49)%

S.C.R.A
29-06-2009
9.23
June-09
45.97
YTD
(539.51)

Money Market Updates
Tbill Cut-off
 
1 year
12.24%
6 month
12.43%
KIBOR (3 months)
12.77%
KIBOR (6 months)
12.76%
PIB (10 years)
12.63%

Exchange Rates
Rs/US
81.48
Rs/UK
135.38
Rs/EURO
114.82
Rs/OMAN RIYAL
212.01

commodities
Oil
$70.46/barrel
Oil Change in %
0.82%
Gold
$929.20/ounce
Gold Change in %
0.19%

Inflation
CPI Gen. May 09(YOY)
14.40%
CPI Gen. (Jul-May 09)
21.60%
NFNE Core INFL May 09 (YOY)
16.60%
NFNE Core INFL (Jul-May 09)
17.70%

Economic Indicators
US$ Reserves (Billion)
11.64
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-May 09)
$(8.22)bn
Remittances (Jul-May 09)
$7.08bn
Foreign Investment (Jul-May 09)
$2.22bn
All Scheduled Banks Deposit Base (June 20, 08)
Rs.4,052bn

Daily Returns and NAVs
as of June 29, 2009
 
Offer
Redemption
POBOP
51.1752/-
50.6634/-
Daily Return
19.96%
POASF
62.46/-
60.90/-
Daily Return
18.01%
POAIF
56.95/-
55.53/-
Daily Return
17.55%
POAIIF
55.6008/-
55.0448/-
Daily Return
84.55%
POAF
10.8368/-
Daily Return
(36.46)%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Profit rates on NSSs reduced
The profit rates on National Saving Certificates (NSSs) have been revised downwards from July 1, 2009. According to the Central Directorate of National Saving, the profit rate on Special Saving Certificate would now be 11.62 percent and the profit rate on Revenue Income Certificate would be 12 percent more... (BR)

Government may not withdraw subsidy on power, National Assembly told
Federal Minister for Parliamentary Affairs, Dr Babar Awan, has said that the government is sincerely considering not to withdraw subsidy on electricity as long as there is load shedding. He also said that the government must revisit the privatisation of Karachi Electricity Supply Corporation (KESC), if it is not able to end the load shedding in the industrial hub more... (BR)

Nepra may recommend 28 percent raise in tariff
The National Electric Power Regulatory Authority (Nepra) is expected, by the end of July, to recommend 28 percent increase in power tariff for the consumers of discos, sources told Business Recorder. "We were in a position to finalise discos' tariff determinations by the end of June, 2009, but the hearing of 2008's petitions in the light of Supreme Court directives caused some delay. We hope the process will be completed by the end of July," sources said more... (BR)

Indian plan to reduce troops in towns of Kashmir welcomed
FM Qureshi told reporters that an Indian troop withdrawal would improve the climate for Indo-Pak dialogue more... (D)

Pakistan not to relocate troops from eastern border
Information Minister Qamar Zaman Kaira has ruled out the withdrawal of troops from the eastern border for deployment at the western border more... (D)

'Pak-UK defence cooperation forum' meets
Permanent Under Secretary of United Kingdom, Sir Bill Jaffrey, along with a five-member defence delegation, met Secretary Defence, Lieutenant General Syed Athar Ali (Retd), in his office on Tuesday. The delegation consisted of UK High commissioner to Pakistan Robert Brinkley, Assistant Chief of Defence Staff Major General Jonathan Shaw, and Brigadier Steve Sherry UK Defence Advisor more... (BR)

sector Briefing

Carbon surcharge: POL products' prices increased
The government has increased the price of petrol by Rs 5.92 per litre, light diesel Rs 6.94, kerosene oil Rs 7.48 and HOBC Rs 8.50 per litre. With this increase, the price of per litre petrol has surged to Rs 62.13, HOBC Rs 78.78, light diesel oil Rs 54.94 and kerosene oil to Rs 59.35 per litre more... (BR)

Gas price for domestic consumers reduced
Prices for domestic consumers have been reduced by two per cent; 4.46 per cent for independent power producers more... (D)

No mechanism yet on FED collection from brokers: no CVT on shares from today
Karachi Stock Exchange on Tuesday informed its members that the collection of Capital Value Tax (CVT) has been withdrawn only on purchase value of shares of listed companies with effect from July 1, 2009 on the trade/transactions carried out on and after such date as per amendments made in Income Tax Ordinance, 2001 through Finance Bill, 2009 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