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July 10, 2009

Statistics
KSE 100 Index
Previous Index
7,476.11
Current Index
7,430.01
Change %
(0.62)%
YTD (CY09)
26.70%
YTD (FY09)
(39.50)%

International Indicates
 
Close
Percentage
BSE-30
13,757.46
(0.08)%
HANGSENG
17,790.59
0.39%
NIKKEI 255
9,291.06
(1.40)%
FTSE
4,158.66
0.45%
DJI
8,183.17
0.06%
SSEC
3,123.04
1.37%
NASDAQ
1,752.55
0.31%

S.C.R.A
08-07-2009
(1.37)
July-09
15.16
YTD
15.16

Money Market Updates
Tbill Cut-off
 
1 year
12.09%
6 month
12.01%
KIBOR (3 months)
11.86%
KIBOR (6 months)
12.11%
PIB (10 years)
11.55%

Exchange Rates
Rs/US
81.89
Rs/UK
131.07
Rs/EURO
113.30
Rs/OMAN RIYAL
212.85

commodities
Oil
$60.36/barrel
Oil Change in %
(0.08)%
Gold
$913.80/ounce
Gold Change in %
(0.26)%

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)
12.27
GDP Growth FY09E
4.2%
Per Capita Income
$1,046
Population
166.86mn
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 (July 04, 09)
Rs.4,157bn

Daily Returns and NAVs
as of July 09, 2009
 
Offer
Redemption
POBOP
51.2951/-
50.7821/-
Daily Return
151.40%
POASF
53.71/-
52.37/-
Daily Return
(90.38)%
POAIF
53.20/-
51.87/-
Daily Return
(70.23)%
POAIIF
51.8225/-
51.3043/-
Daily Return
7.91%
POAF
10.8782/-
Daily Return
15.18%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Pakistan's foreign exchange reserves stand at $12.26 billion
The total liquid foreign exchange reserves held by the country stood at $12,269.8 million on the week ended July 4, 2009. According to the State Bank of Pakistan, foreign exchange reserves held by the State Bank were $8,963.8 million while net foreign exchange reserves held by banks other than SBP were $3,306.0 million more... (BR)

Kibor at 13-month low; down 360 basis points
The declining trend in benchmark lending rate in Pakistan will be a sigh of relief for the large scale manufacturing sector that posted a decline of 8 percent last year. The declining cost of borrowing may help revive partially the economic activity in the country, analysts said. Six-month Kibor settled at 12.1 percent on July 9, 2009, posting a sharp fall of almost 360 bps in this calendar year till date more... (BR)

June-July CPI inflation surges by 20.77 percent
The CPI inflation for June-July 2008-09 surged by 20.77 percent as compared to the same period of last year, reveals official figures of Federal Bureau of Statistics, released here on Thursday. Official monthly figures on inflation, however, showed substantial decline of 13.13 percent in the CPI in June 2008-09 over 21.35 percent for the same month last year more... (BR)

Top Nato official stresses respect for sovereignty
Admiral Giampaolo Di Paola said military operations on Pakistan’s territory should be carried out by its own forces more... (D)

PM Gilani to meet Manmohan Singh in Egypt
Prime Minister Yousuf Raza Gilani will meet his Indian counterpart Manmohan Singh on the sidelines of a summit in Egypt next week, a foreign ministry spokesman said in Islamabad more... (D)

IDPs to return to Malakand starting July 13: Gilani
Declaring that the objectives of the Malakand operation had been met, the PM said IDPs could return home next week more... (D)

sector Briefing

Serious disagreement between executive, judiciary over hike:
POL products' prices raised again through Presidential Ordinance
The President of Pakistan has promulgated Petroleum Development Levy (Amendment) Ordinance-2009 by substituting the words "carbon surcharge" the words "petroleum levy" and it shall come into force at once. Following is the text of the Ordinance issued on July 8, 2009 more... (BR)

Government decides to use CPI to ascertain CNG price escalation
The federal government has decided to use Consumer Price Index (CPI) as benchmark to determine escalation in Compressed Natural Gas (CNG) prices, official sources told Business Recorder. Last year the Economic Co-ordination Committee (ECC) of the cabinet had directed Oil and Gas Regulatory Authority (OGRA) to amend its Ordinance and rules to regulate CNG consumer prices besides examining the profit of gas companies more... (BR)

Car manufacturers involved in black marketing: Wattoo
Minister for Industries and Production, Manzoor Ahmad Wattoo said on Thursday that car manufacturers are involved in black marketing and the National Assembly's Standing Committee has taken serious note of this situation. After the meeting, talking to media, he said that for the first time, the Ministry of Industries and Production presented auto industry to the NA Standing Committee to further strengthen the parliament and its institutions 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