BasedLine
LOGO
August 12, 2009
Statistics
KSE-100 Index
Previous Index
8,082.06
Current Index
8,044.50
Change %
(0.46)%
YTD (CY09)
39.83%
YTD (FY10)
10.64%

International Indicators
 
Close
Percentage
BSE-30
15,074.59
0.43%
HANGSENG
21,074.21
0.69%
NIKKEI 255
10,585.46
0.58%
FTSE
4,671.30
(1.08)%
DJIA
9,241.45
(1.03)%
SSEC
3,249.76
(0.34)%
NASDAQ
1,969.73
(1.13)%

S.C.R.A
Aug 10, 2009
2.968
Aug 2009
9.940
YTD
14.846

Money Market Updates
Tbill (6 months)
11.38%
Tbill (12 months)
11.75%
KIBOR (3 months)
12.11%
KIBOR (6 months)
12.14%
PIB (10 years)
12.01%

Exchange Rates
Rs/EURO
117.47
Rs/UK
136.88
Rs/US
83.02
Rs/OMAN RIYAL
214.04
   

Commodities
Oil
$69.43/barrel
Oil Change in %
(1.84)%
Gold
$949.90/ounce
Gold Change in %
0.14%

Inflation
CPI Gen. Jun 09 (YOY)
13.10%
CPI Gen. (Jul 08-Jun 09)
20.80%
NFNE Core INFL Jun 09 (YOY)
15.90%
NFNE Core INFL (Jul 08-Jun 09)
17.60%

Economic Indicators
US$ Reserves
11.72bn
GDP Growth FY09E
2.00%
Per Capita Income
$1,046
Population
167.14mn
Trade Deficit (Jul 09)
$(1.15)bn
Curr. A/C (Jul 08-Jun 09)
$(8.86)bn
Remittances (Jul 08-Jun 09)
$7.81bn
Foreign Investment (Jul 08-Jun 09)
$2.67bn
All Scheduled Banks Deposit Base (Aug 01, 09)
Rs.4,153mn

Daily Returns and NAVs
as of Aug 11, 2009
 
Offer
Redemption
POBOP
51.4922/-
50.9773/-
Daily Return
9.83%
POAIIF
52.3245/-
51.8013/-
Daily Return
7.30%
POAIF
54.08/-
52.73/-
Daily Return
(6.92)%
POASF
54.38/-
53.02/-
Daily Return
(41.26)%
POAF
11.09/-
Daily Return
27.24%
* Daily Returns are calculated as per MUFAP guidelines

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

July trade deficit dips to $1.15bn
Imports fall faster than exports
Country's trade deficit shrank by 36.15 per cent to $1.15 billion in July 2009 against $1.80 billion in same month last year as imports fell faster than exports, Federal Bureau of Statistics said Tuesday. more... (FD)

$747 million record remittances received in July
Workers remittances sent by overseas Pakistanis surged by 19.13 percent to a record $747 million during the first month of current fiscal year as compared to same period last fiscal year. Pakistani workers remitted a record amount of $747.22 million in July 2009 against $627.21 million in the same month of the last fiscal year (July 2008), showing a jump of $120.01 million. more... (BR)

Inland freight subsidy for export from Karachi: move termed conspiracy against Gwadar port
The Ports and Shipping Ministry, Singapore Authority, and Balochistan government have jointly opposed Finance and Commerce Ministries' bid to give inland freight subsidy from Rs 40 billion export investment fund to cement, chemical, leather and marble tile exporters for exporting goods through Karachi Port, terming it a conspiracy against Gwader Port. more... (BR)

Freedom to sign new FTAs: MoC not happy with Cabinet for rejecting key proposals
The Ministry of Commerce (MoC) is reportedly unhappy with the Federal Cabinet for forfeiting its independence over new free trade agreements (FTAs) and rejecting some critical proposals contained in the three-year Strategic Trade Policy Framework, well-informed sources told Business Recorder here on Tuesday. more... (BR)

FIR registered against Musharraf
Islamabad Police have registered first information report (FIR) against former president General Pervez Musharraf (Retd) under section 344/34 of Criminal Procedure Code, charging him with keeping Chief Justice of Pakistan and other judges of superior judiciary and their families in illegal confinement in a bid to strengthen his hold on power two years back. more... (BR)

UK diplomat starts talks to ‘protect’ Musharraf
Senior British diplomat Mark Lyall Grant on Tuesday started talks with Pakistan’s top political leaders, triggering speculations that he might be seeking concessions for former president Gen Pervez Musharraf, who faces a possible trial for high treason. more... (D)

OCAC refutes judicial commission's findings
The Oil Companies Advisory Committee (OCAC) on Tuesday submitted its objections/comments before the Supreme Court, and refuted the of judicial commission, headed by Justice Rana Bhagwandas. In its reply to the report, the OCAC said that the finding that refineries earned windfall profits, "with due respect is quite incorrect and the same is quite contrary to the facts, so much so that even the mathematical calculations are incorrect". more... (BR)

Sector Briefing

$25 billion textile export target for five years set: policy likely to be announced today
The government is all set to announce the first-ever textile policy on Wednesday (today) with export target of $25 billion for the next five years after its approval at the special meeting of the Cabinet to be chaired by Prime Minister, Yousuf Raza Gilani. more... (BR)

Refiner sales slip 14.1pc in 1MFY10
Volumetric sales of refineries witnessed a fall by 14.1 per cent in the first month of the Financial Year 2009-10 (1MFY10) as refineries operated at lower utilisation rates due to liquidity constraints during the period. more... (FD)

Rental power project: 14 percent mobilisation advance, GoP guarantee for M/s Walters
The government has agreed to provide 14 percent mobilisation advance and GoP guarantee to M/s Walters rental power project after a meeting between Water and Power Minister Raja Pervez Ashraf and Oklahoma Governor David Walters, accompanied by his technical team in Islamabad. more... (BR)

Bond Automated Trading System approved
The Board of Directors of Karachi Stock Exchange (KSE) has approved the proposal to launch the Bond Automated Trading System (BATS) at the exchange. The board has also decided that the four suspended KSE members would be expelled if they failed to clear KSE loan and investors' claims against them by August 12, 2009 till 5:00 pm. more... (BR)

(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily
Research Team:
Shoaib Ali Khan
Department Head
Shayan Hasan
Research Analyst
Salman Kazmi
Research Analyst
Imran Altaf
Research Analyst
Faizan Ahmed
Research Analyst
Majid Butt
Research Analyst
Faiz Malik
Database Manager
Separator
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