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LOGO
August 21, 2009
Statistics
KSE-100 Index
Previous Index
7,952.70
Current Index
7,973.45
Change %
0.27%
YTD (CY09)
35.94%
YTD (FY10)
11.32%

International Indicators
 
Close
Percentage
BSE-30
15,012.32
1.36%
HANGSENG
20,328.86
1.87%
NIKKEI 255
10,383.41
1.75%
FTSE
4,756.60
1.42%
DJIA
9,350.05
0.76%
SSEC
2,785.58
(4.30)%
NASDAQ Composite
1,989.22
1.01%

S.C.R.A
Aug 19, 2009
2.453
Aug 2009
36.740
YTD
41.706

Money Market Updates
Tbill (6 m) Jul 15, '09
11.38%
Tbill (12 m) Aug 12, '09
12.16%
KIBOR (3 m) Aug 19, '09
12.32%
KIBOR (6 m) Aug 19, '09
12.32%
PIB (10 yrs) Aug 19, '09
12.33%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO
117.60
Rs/UK
136.62
Rs/US
82.95
Rs/OR
215.41

Commodities
Oil
$72.50/barrel
Oil Change in %
0.32%
Gold
$940.80/ounce
Gold Change in %
(0.27)%

Inflation
CPI Gen. Jul 09 (YOY)
11.20%
CPI Gen. FY10 (Jul 09)
11.20%
NFNE Core INFL Jul 09 (YOY)
14.00%
NFNE Core INFL FY10 (Jul 09)
14.00%

Economic Indicators
GDP Growth FY09E
2.00%
Per Capita Income
$1,046
Population
167.22mn
US$ Reserves (Aug 08, 09)
12.96bn
Trade Deficit (Jul 09)
$(1.15)bn
Curr. A/C (Jul 09)
$(606)mn
Remittances (Jul 09)
$747.22mn
Foreign Investment (Jul 09)
$195.6mn
All Scheduled Banks Deposit Base (Aug 15, 2009)
Rs.4,098bn

Daily Returns and NAVs
as of Aug 20, 2009
 
Offer
Redemption
POBOP
51.6605/-
51.1439/-
Daily Return
10.43%
POAIIF
52.4196/-
51.8954/-
Daily Return
7.74%
POAIF
54.19/-
52.84/-
Daily Return
41.54%
POASF
54.13/-
52.78/-
Daily Return
6.91%
POAF
11.13/-
Daily Return
12.80%
* Daily Returns are calculated as per MUFAP guidelines

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

Ecnec approves Rs. 977bn projects
Diamer-Bhasha Dam gets formal approval,22 projects okayed, rest to be reviewed in next meet
Executive Committee of National Economic Council (ECNEC) has accorded approval to 22 projects worth Rs977 billion including construction of Diamer-Bhasha Dam having power generation capacity of 4500MW. more... (FD)

Reconstitution of Ogra suggested
Judicial Commission on Petroleum Products has recommended reconstituting Oil and Gas Regulatory Authority (Ogra) and strengthening the Ministry of Petroleum and Natural Resources to improve efficiency of officials for better performance in decision making. more... (BR)

Oil imports slip 40.5pc for 1MFY10Oil, machinery, food import bill down 31.5pc in July
The fall in international commodity prices has helped Pakistan's oil, machinery and food import bill to decline cumulatively by 31.5 per cent to $1.45 billion the first month of current fiscal year (1MFY10) as compared to $1.88 billion in the same period last year. more... (FD)

Lack of response to energy crisis disappoints US: Zardari informed by Holbrooke
Washington has expressed disappointment at Islamabad's un-preparedness to deal with the current energy crisis, saying Pakistan's response to address her energy problems so far has been sporadic, seeking silver bullet in gas imports from Iran and Turkmenistan pipelines and turning to expensive oil-fired rental power plants for the short-term, and requesting Saudi Arabia for free oil. more... (BR)

PML-N walks out in protest against Prime Minister's stance
Pakistan Muslim League-Nawaz (PML-N) on Thursday staged a walkout from National Assembly in protest against the speech of Prime Minister Syed Yousuf Raza Gilani who had stated on Wednesday that the government would invoke Article-6 of the Constitution against the former dictator only if the house passed a consensus resolution. more... (BR)

Punjab accuses Centre of supporting top millers
The Punjab government has accused the Federal government of supporting sugar barons in fixing sugar prices which, so claims the provincial government, has effectively led to the Centre allegedly sabotaging its plan to reduce sugar price to provide relief to consumers. more... (BR)

Sector Briefing

Textile sector: Prime Minister not in favour of extra concessionary financing
Prime Minister, Syed Yousaf Raza Gilani, has not approved the provision of more concessionary financing to the textile sector in violation of the established market conditions, official sources told Business Recorder. Presiding over a special cabinet meeting to approve Textile policy 2009-14, on August 12, the Prime Minister said the textile sector should be made self-reliant and not dependent on continuous cash support from the government. more... (BR)

Petroleum products: Supreme Court asks government to explain raise in ex-refinery prices
The Supreme Court on Thursday directed the government to justify increase in the ex-refinery prices of petroleum products and to provide the rationale for charging 16 percent General Sales Tax (GST) over petroleum products from consumers. more... (BR)

Margin financing may be launched next week
Margin Financing, an alternate leverage product of CFS Mk-II or traditional badla to cater to the financing needs of the brokerage houses and their clients, is most likely to be launched at the Karachi Stock Exchange next week, it is learnt. The Trading Affairs Committee of KSE, in its meeting to be held here on Friday (today) would review the final concept paper on Margin Financing and sources said that the committee is most likely to approve the concept paper with some amendments. more... (BR)

Sharp decline in NRL profit in fiscal year 2009
The profit after tax of National Refinery Limited (NRL) has declined to Rs 1.533 billion in the year ended June 30, 2009 (FY09) as compared to Rs 6.005 billion earned in FY08. The company's earning per share reduced to Rs 19.17 in the period under review against Rs 75.10 in the same period a year back. 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