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July 02, 2009

Statistics
KSE 100 Index
Previous Index
7,162.18
Current Index
7,270.72
Change %
1.52%
YTD (CY09)
24.00%
YTD (FY09)
(40.80)%

International Indicates
 
Close
Percentage
BSE-30
14,645.47
1.05%
HANGSENG
18,378.73
(0.81)%
NIKKEI 255
9,939.93
(0.20)%
FTSE
4,340.71
2.15%
DJI
8,504.06
0.68%
SSEC
3,008.15
1.65%
NASDAQ
1,845.72
0.58%

S.C.R.A
30-06-2009
2.30
June-09
48.26
YTD
(537.21)

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
211.19

commodities
Oil
$69.19/barrel
Oil Change in %
(0.17)%
Gold
$938.90/ounce
Gold Change in %
(0.25)%

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 30, 2009
 
Offer
Redemption
POBOP
-/-
-/-
Daily Return
-%
POASF
62.40/-
60.84/-
Daily Return
(35.96)%
POAIF
56.84/-
55.42/-
Daily Return
(72.30)%
POAIIF
55.8266/-
55.2683/-
Daily Return
338.86%
POAF
-/-
Daily Return
-%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Australia increases aid to Pakistan by four million dollars
Australia on Wednesday committed an extra four million dollars to humanitarian assistance in Pakistan and one million dollars to support elections in Afghanistan more... (D)

Cut in NSS rates, fresh inflows boost KSE
The recent cut in NSS rates and fresh inflows of foreign investment encouraged local investors to take fresh positions and the benchmark KSE-100 index surged by 108.54 points to close at 7,270.72 points on Wednesday. The retail investors and local institutions joined the rally following the continuous foreign investors' interest, analysts said more... (BR)

Body formed to help defuse power crisis: Cabinet imposes 25 percent regulatory duty on import of maize
The Federal Cabinet on Wednesday imposed 25 percent regulatory duty on the import of maize and set up a ministerial committee with the task to propose steps for overcoming power crisis that has made the life of people pitiable more... (BR)

President, Prime Minister and CoAS discuss operation
Prime Minster Syed Youssf Raza Gilani and Chief of Army Staff General Ashfaq Pervaiz Kayani on Wednesday called on President Asif Ali Zardari and discussed matters relating to ongoing military operation. In a meeting held at Aiwan-e-Sadr, they also discussed the arrangements made for the relief and rehabilitation of the dislocated people of Malakand and Waziristan more... (BR)

Pakistanis turn on Taliban, but resent US: poll
Public opinion in Pakistan has turned sharply against the Taliban and other militants but Pakistanis still do not trust the United States and President Barack Obama, a poll showed on Wednesday. The WorldPublicOpinion.org poll, conducted last month as Pakistan's army fought the Taliban in the Swat Valley, found that most Pakistanis see the Pakistani Taliban and al Qaeda as a critical threat to the nuclear-armed country more... (BR)

US to consult India closely in fight against extremism
Top US official Robert Blake described Pakistan and Afghanistan as America’s ‘strategic priority.’ more... (D)

sector Briefing

Ogra jacks up feed gas price for urea-makersStaff Reporter
The Oil & Gas Regulatory Authority (OGRA) has raised the feed gas price for urea makers by 7.6 per cent to Rs102.01/mmbtu from Rs94.78/mmbtu effective from July 01, 2009. On the other hand, fuel gas price has been decreased by 5 per cent to Rs324.30/mmbtu more... (FD)

Textile sector: sales tax zero-rating FBR policy backfires
The Federal Board of Revenue (FBR) has failed to achieve the policy objective of sales tax zero-rating for the textile sector, as the amount of refund claimed by this sector is still very high. The FBR has admitted this fact in the Third Quarterly Review issued here on Wednesday, reflecting non-compliance and low tax contribution by the textile sector due to non-existent audit more... (BR)

Report on KESC being presented today: Pepco
Pepco Managing Director Tahir Basharat Cheema said on Wednesday that a Pepco team would present a report on KESC to the Ministry of Water and Power on Thursday, July 2 and action would be taken against management of KESC. He said that Pepco had sent bill and notices to 34 farmhouses in Chak Shahzad for using electricity for houses 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