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July 20, 2009

Statistics
KSE 100 Index
Previous Index
7,715.42
Current Index
7,764.01
Change %
0.63%
YTD (CY09)
34.95%
YTD (FY10)
6.78%

International Indicates
 
Close
Percentage
BSE-30
14,744.92
3.47%
HANGSENG
18,805.66
2.42%
NIKKEI 255
9,395.32
0.54%
FTSE
4,388.80
0.62%
DJI
8,743.94
0.37%
SSEC
3,189.74
0.19%
NASDAQ-100
1,527.26
0.55%

S.C.R.A
17-07-2009
4.918
July-09
24.47
YTD
24.47

Money Market Updates
Tbill Cut-off
 
1 year
11.47%
6 month
11.38%
KIBOR (3 months)
11.74%
KIBOR (6 months)
11.92%
PIB (10 years)
11.56%

Exchange Rates
Rs/US
81.90
Rs/UK
133.75
Rs/EURO
115.47
Rs/OMAN RIYAL
214.68

commodities
Oil
$64.05/barrel
Oil Change in %
3.91%
Gold
$940.80/ounce
Gold Change in %
0.39%

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)
17.60%

Economic Indicators
US$ Reserves (Billion)
12.24
GDP Growth FY09E
2.0%
Per Capita Income
$1,046
Population
166.92mn
Trade Deficit (Jul-Jun 09)
$(17.04)bn
Curr. A/C (Jul-Jun 09)
$(8.86)bn
Remittances (Jul-May 09)
$7.81bn
Foreign Investment (Jul-May 09)
$2.67bn
All Scheduled Banks Deposit Base (July 04, 09)
Rs.4,127bn

Daily Returns and NAVs
as of July 18, 2009
 
Offer
Redemption
POBOP
51.4592/-
50.9446/-
Daily Return
12.71%
POASF
54.11/-
52.76/-
Daily Return
6.92%
POAIF
53.39/-
52.06/-
Daily Return
0.00%
POAIIF
51.9204/-
51.4012/-
Daily Return
7.36%
POAF
10.9925/-
Daily Return
26.05%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

Iran-Pakistan gas pipeline project: delay in execution causing $5 million daily loss:
Dr Asim Hussain, Adviser to the Prime Minister on Petroleum and Natural Resources has said the delay in the execution of Iran-Pakistan Gas Pipeline project is causing Pakistan a loss of $5 million per day. Briefing the media on oil pricing formula for petroleum products here on Sunday, he said the import of 750 Mmcfd of natural gas from Iran would support 4,600 MW of power generation in the country more... (BR)

Services trade deficit halves in FY09
Pakistan services sector deficit narrowed by 50 percent to $3.23 billion in the fiscal year 2009 compared to $6.45 billion in FY08, according to State Bank of Pakistan (SBP) more... (FD)

Proposals for Trade Policy: FBR seeks ban on export of ethanol
The Federal Board of Revenue (FBR) has asked the Ministry of Commerce to impose a ban on the export of Ethanol through amendment in the Export Policy Order in the upcoming Trade Policy (2009-2010). Another important FBR proposal for Trade Policy is to make it mandatory for the commercial exporters to submit Bank Guarantee instead of indemnity Bond under the export policy to secure government revenue more... (BR)

Foreign office brushes aside US allegations
The Foreign Office spokesman, Abdul Basit, on Sunday termed as baseless the US allegations regarding the presence of culprits involved in terror incidents in US and India in Pakistan more... (BR)

Pakistan committed to fighting terror, Clinton tells India
US Secretary of State Hillary Clinton defended Sunday Pakistan's commitment to fighting terrorism, while warning that the perpetrators of last year's Mumbai attacks must be brought to justice. "We believe there is a commitment to fighting terrorism that permeates the entire (Pakistan) government," Clinton told reporters in New Delhi during her first trip to India as Washington's top diplomat more... (BR)

Musharraf backs talks with Taliban
Former president Pervez Musharraf has said dialogue had to be established with theTaliban and political progress, rather than military might, would achieve a solution in Afghanistan more... (D)

sector Briefing

A dent of 38pc in autos profits likely in 2QCY09
With the start of result season for 2QCY09 Apr-June, TFD research department has forecasted likely profitability for auto sector, factoring out 3 major players (PSMC, HCAR & INDU) more... (FD)

E&P companies to pay income tax on after-tax profit remittances
The Federal Board of Revenue (FBR) has included a new provision in the Income Tax Ordinance 2001 by virtue of which the remittances of after-tax profit by a branch of non-resident petroleum exploration and production company, operating in Pakistan, has been excluded from the ambit of the dividend 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