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July 23, 2009

Statistics
KSE 100 Index
Previous Index
7,782.23
Current Index
7,802.81
Change %
0.26%
YTD (CY09)
33.00%
YTD (FY10)
8.90%

International Indicates
 
Close
Percentage
BSE-30
14,843.12
(1.46)%
HANGSENG
19,248.17
(1.30)%
NIKKEI 255
9,723.16
0.70%
FTSE
4,493.73
0.28%
DJI
8,881.26
(0.39)%
SSEC
3,296.62
0.91%
NASDAQ-100
1,926.38
0.53%

S.C.R.A
21-07-2009
1.13
July-09
26.69
YTD
26.69

Money Market Updates
Tbill Cut-off
 
1 year
11.47%
6 month
11.38%
KIBOR (3 months)
11.74%
KIBOR (6 months)
11.91%
PIB (10 years)
11.65%

Exchange Rates
Rs/US
82.19
Rs/UK
134.39
Rs/EURO
116.24
Rs/OMAN RIYAL
213.87

commodities
Oil
$65.62/barrel
Oil Change in %
0.34%
Gold
$952.80/ounce
Gold Change in %
(0.05)%

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
166.97mn
Trade Deficit (Jul-Jun 09)
$(17.04)bn
Curr. A/C (Jul-Jun 09)
$(8.86)bn
Remittances (Jul-Jun 09)
$7.81bn
Foreign Investment (Jul-Jun 09)
$2.67bn
All Scheduled Banks Deposit Base (July 11, 09)
Rs.4,127bn

Daily Returns and NAVs
as of July 22, 2009
 
Offer
Redemption
POBOP
51.4292/-
50.9149/-
Daily Return
11.04%
POASF
54.41/-
53.05/-
Daily Return
82.75%
POAIF
53.65/-
52.31/-
Daily Return
76.92%
POAIIF
51.9632/-
51.4436/-
Daily Return
8.89%
POAF
11.0084/-
Daily Return
17.65%
* Daily Returns are calculated as per MUFAP guidelines

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

Economy

SBP likely to slash discount rate
Central bank is expected to cut its key interest rate sharply in a policy review on Saturday that will take account of falling inflation and the need to help the economy bounce back from recession. The discount rate is now at 14 percent after the State Bank of Pakistan cut it by 100 basis points in its quarterly review in April more... (BR)

Pak-Iran gas deal likely to be lost: Jundollah Group may create hurdles
Iran faced opposition from within on Iran-Pakistan (IP) gas pipeline deal as Iranian Oil Ministry had strongly opposed signing of Gas Sales Purchase Agreement (GSPA) in Turkey due to security concerns, fearing that Jundallah Group may create hurdles in materialising the project more... (BR)

Nepra issues show-cause notice to KESC
National Electric Power Regulatory Authority (NEPRA) has issued show-cause notice to Karachi Electric Supply Company (KESC) on its failure in power supply to Karachi and surrounding areas and upgradation of system. According to official sources, the authority sought detailed report from KESC within 10 days and warned that if it fails to submit report besides imposing fine its licence could also be cancelled more... (BR)

SC calls Musharraf to defend Nov 3 actions
The court has made history by calling the former military ruler to defend his extra-constitutional actions on July 29 more... (D)

Expanded US action in Afghanistan worries Pakistan
Pakistani officials have told the Obama administration that expanded operations will further inflame the Balochistan: NYT more... (D)

Relations with India to improve: Qureshi
The stunning confessions of the lone surviving gunman in the bloody Mumbai attacks will not set back the peace process between archrivals Pakistan and India, Pakistan's foreign minister said Wednesday more... (D)

sector Briefing

Deliverable Futures Contract Market re-introduction approved
The Securities and Exchange Commission of Pakistan (SECP) on Wednesday approved KSE board recommendation to re-introduce Deliverable Futures Contract Market (DFCM) at Karachi Stock Exchange (KSE) for 18 eligible scrips. Following SECP approval, the trading of 18 eligible scrips will be started at the local bourses for August 2009 contracts from Monday, with special and concentration margins in place, resulting in better risk management, KSE officials said more... (BR)

FY10: OGDC plans massive spuddingCompany to spend $800mn on exploration
Oil & Gas Development Co, Pakistan's biggest explorer, plans to spend more than $800 million on developing new projects in FY09-10, to meet growing local demand, Chief Executive Zahid Hussain said. OGDC will drill a total of 51 wells, out of which, at least 9 of them will be in Balochistan, where company was forced to abandon work six years ago because of a violent insurgency, Hussain said more... (FD)

Furnace oil price monitoring by Ogra: ECC chides MoP for resubmitting rejected proposal
The Economic Co-ordination Committee (ECC) of the Cabinet is said to have expressed its anger against the Ministry of Petroleum (MoP) for resubmitting proposal rejected six-month ago on "monitoring of furnace oil price by the Oil and Gas Regulatory Authority (Ogra)," well-informed sources told Business Recorder on Wednesday 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