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July 15, 2009

Statistics
KSE 100 Index
Previous Index
7,684.65
Current Index
7,631.66
Change %
(0.69)%
YTD (CY09)
30.01%
YTD (FY09)
(37.90)%

International Indicates
 
Close
Percentage
BSE-30
13,853.70
3.38%
HANGSENG
17,885.73
3.66%
NIKKEI 255
9,261.81
2.30%
FTSE
4,237.68
0.90%
DJI
8,359.49
0.33%
SSEC
3,145.16
2.10%
NASDAQ
1,799.73
0.36%

S.C.R.A
13-07-2009
(0.15)
July-09
17.05
YTD
17.05

Money Market Updates
Tbill Cut-off
 
1 year
12.09%
6 month
12.01%
KIBOR (3 months)
11.77%
KIBOR (6 months)
12.00%
PIB (10 years)
11.55%

Exchange Rates
Rs/US
82.61
Rs/UK
133.91
Rs/EURO
115.19
Rs/OMAN RIYAL
214.43

commodities
Oil
$60.13/barrel
Oil Change in %
1.04%
Gold
$925.60/ounce
Gold Change in %
0.30%

Inflation
CPI Gen. Jun 09(YOY)
13.10%
CPI Gen. (Jul-Jun 09)
20.80%
NFNE Core INFL Jun 09 (YOY)
15.90%
NFNE Core INFL (Jul-Jun 09)
15.90%

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 14, 2009
 
Offer
Redemption
POBOP
51.3760/-
50.8622/-
Daily Return
12.17%
POASF
53.96/-
52.61/-
Daily Return
(13.87)%
POAIF
53.36/-
52.03/-
Daily Return
(35.04)%
POAIIF
51.8793/-
51.3605/-
Daily Return
7.82%
POAF
10.9421/-
Daily Return
13.74%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Pakistan asks additional $4 billion in IMF loan
Pakistan has asked some $4 billion in additional financing from the International Monetary Fund as an "insurance" against the economic crisis, a top Finance Ministry official said on Tuesday. "The world has not come out of recession, so I might as well have more insurance," Finance Ministry chief Shaukat Tarin told investors in an event organised by the Asia Society in New York more... (BR)

Causes: domestic and external shocks: 51 percent decline in foreign investment in fiscal year 2009
Foreign investment during last fiscal year (2008-09) registered a massive decline, of 51 percent, due domestic and external shocks and massive outflow of portfolio investment mainly due to political uncertainty. The State Bank of Pakistan (SBP) on Tuesday issued statistics of foreign investment (FDI) and portfolio investment for the fiscal year 2008-09, which shows that constantly for the second time the country witnessed a massive decline in foreign investment more... (BR)

Developing states: remittance inflows may decline to $304 billion in 2009: World Bank
Remittance inflows to developing countries are expected to be around 304 billion dollars in 2009, down from an estimated 328 billion dollars in 2008, according to the World Bank report. The bank, releasing a new migration and remittance brief to coincide with an international diaspora and development conference from July 13-14, said that the remittances decline could be around 7.3 percent during 2009 more... (BR)

Pak-India foreign secretaries talks begin
The talks between foreign secretaries of Pakistan and India began in Sharm el Sheikh late Tuesday night, Aaj TV reported. Foreign Secretary Salman Bashir was assisted by Pakistan's Ambassador to India, Shahid Malik in the talks. Kashmir issue, supply of weapons to militants in Malakand, Baglihar and Kishan Ganga dams came under discussion. Foreign Secretary Shiv Shankar Menon led the Indian side more... (BR)

Zardari to meet Karzai, Medvedev in Tajikistan
The meeting’s main theme is cooperation in energy, communications and transportation, a Tajik official said more... (D)

Islamabad acts to stop target killing in Karachi
Taking some out-of-box pre-emptive measures against target killing in Karachi, the federal government on Tuesday ordering judicial probe into the political murders directed setting up of a directorate of Crisis Management Cell in Karachi. Further, the federal government has authorised Pakistan Rangers to raid the culprits on the basis of their own information more... (BR)

sector Briefing

KSE decides to relaunch deliverable future contracts
The board of directors of Karachi Stock Exchange (KSE) has approved the proposal to re-launch the deliverable future contracts in 10 eligible scrips, with VAR based cash margin. The KSE board meeting, held here on Tuesday, reviewed the proposal to re-launch the future product, which was discontinued since April 8, 2009. The board also reviewed the matter of five suspended KSE members more... (BR)

Petroleum product prices to be reduced Aug 1: Asim
The Advisor to the PM on Petroleum said the govt had revised the margins of OMCs to avoid excessive profits more... (D)

PSO's financial woes: Gencos fail to lift required furnace oil stock
Power generation companies (Gencos) failure to lift required stock of furnace oil for electricity generation forced Pakistan State Oil (PSO) to defer orders of 0.2 million metric tonnes of oil during May and June 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