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September 01, 2009
Statistics
KSE-100 Index
Previous Index 8,541.22
Current Index 8,675.67
Change % 1.57%
YTD (CY09) 47.92%
YTD (FY10) 21.13%

International Indicators
  Close %age
BSE-30 15,666.64 (1.61)%
HANGSENG 19,724.19 (1.86)%
NIKKEI 255 10,492.53 (0.40)%
FTSE 4,908.90 0.00%
DJIA 9,496.28 (0.50)%
SSEC 2,860.69 0.00%
NASDAQ Composite 2,009.06 (0.97)%

SCRA
Aug 28, 2009 5.999
Aug 2009 59.324
YTD 64.291

Money Market Updates
6m T-bill (Aug 26, 2009) 12.44%
12m T-bill (Aug 26, 2009) 12.42%
3m KIBOR 12.54%
6m KIBOR 12.56%
10 yrs PIB 12.36%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 118.64
Rs/UK 134.83
Rs/US 83.20
Rs/OR 214.59

Commodities
Oil $70.20/barrel
Oil Change in % (3.25)%
Gold $953.20/ounce
Gold Change in % (0.51)%

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

Economic Indicators
GDP Growth FY09E 2.00%
Per Capita Income $1,046
Population 167.31mn
US$ Reserves (Aug 22, 2009) 12.85bn
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 Sch. Banks Deposit Base (Aug 22, 2009) Rs.3,973bn

NAVs and Returns
as of Aug 31, 2009
Funds Offer Redemption
POBOP 51.6184/- 51.1022/-
Daily Return 10.36%
POAIIF 52.4714/- 51.9467/-
Daily Return 7.73%
POAIF 54.92/- 53.55/-
Daily Return 30.72%
POASF 54.90/- 53.53/-
Daily Return 3.41%
POAF 11.11/-
Daily Return 13.14%
*Daily Returns are calculated as per MUFAP guidelines

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

Pakistan to seek FoDP help for BBBP financing
Directing sentence remission for women and aged prisoners, President Asif Ali Zardari on Monday issued directives to launch the women-friendly 'Benazir Behan Basti Program' (BBBP) for which financial support would be sought from Friends of Democratic Pakistan (FoDP). more... (BR)

Firms investment abroad: ECC to consider MoF-SBP proposal today
The Ministry of Finance (MoF) has reportedly recommended to the government that the State Bank of Pakistan (SBP) should not be asked for submission of details of those resident Pakistani firms on quarterly basis, which are being allowed to invest abroad up to five million dollars, official sources told Business Recorder on Monday. more... (BR)

Oil and Gas Regulatory Authority (OGRA) raises PoL prices
Petrol price up Rs4.80/litre
Oil and Gas Regulatory Authority (OGRA) increased the price of petrol by Rs4.80 per litre to Rs65.26 per litre due to an increase in petroleum prices in the international market. According to a notification issued here Monday, price of light speed diesel surged to Rs56.96 per litre, Kerosene to Rs60.60 per litre, while rate of High Octane Blending Content (HOBC) has been raised to Rs80.39. more... (FD)


Politics

Presidency rejects allegations
Spokesperson to the President Farhatullah Babar has rejected and condemned the attempts to accuse the Presidency of being involved in what has been described as "character assassination" of some political leaders. In a statement Farhatullah Babar said that there is no question of the Presidency being behind the regurgitation of old accusations against some political leaders. more... (BR)

'Stop smear campaign': PML-N gives Presidency 48 hours
The PML-N on Monday claimed that Pervez Musharraf-supported troika, including Aiwan-e-Sadr, is bent upon side-tracking the issue of trial "of the dictator" through smear campaign against PML-N and its leadership, but the conspirators would never succeed in their designs. more... (BR)


Sector Briefing

Pakistan State Oil (PSO) eyes Rs1tn revenue by 2012
Pakistan State Oil (PSO), the nation's biggest fuel retailer, said Monday that by increasing its sales of bio-diesel and liquefied petroleum gas (LPG), its revenues may jump to Rs1 trillion by 2012. The state-owned company plans to open 200 retail outlets for LPG by June, Managing Director Irfan K Qureshi said in an interview in Islamabad. more... (FD)

20 cement manufacturers: CCP imposes Rs 6.352 billion penalties
The Competition Commission of Pakistan (CCP) has imposed huge penalties of around Rs 6.352 billion on 20 cement manufacturers including some top companies owned by influential groups involved in cartelisation for earning windfall profits. The CCP has proved cartelisation against the cement manufacturers and necessary proceedings have been completed and penalties have been imposed under the provisions of Competition Ordinance 2007. more... (BR)

31 percent decline in banking sector profits
The profit after tax of banking sector declined by 31 percent, to Rs 26.8 billion, in the first half of 2009 as compared to Rs 38.7 billion in the same period in 2008. Analysts said that the soaring expenses of the banks were the major reason behind the lowering profitability. more... (BR)

Big 5 banks' earnings shrink 7pc
Financial results of the big five banks of the country completed Monday with National Bank of Pakistan (NBP) announcing its results for the period ended June 30, 2009 (1HCY09). The cumulative profitability of the banks -- Allied Bank Limited (ABL), United Bank Limited (UBL), MCB Bank (MCB), National Bank of Pakistan (NBP) and Habib Bank Limited (HBL)-- shrank by 6.9 per cent to Rs27.940 billion in 1HCY09 as compared to Rs30.016 billion in the same period last year. ABL led the top performers' table with profitability growth of 22 per cent during the period under review, followed by HBL with 3 per cent increase and MCB with 1 per cent surge in profits. more... (FD)

DAP demand unabated; off-take up 261pc
7MCY09 urea sales up 12.7pc
A significant rise in fertiliser off-take was witnessed with DAP off-take up by 261 per cent YoY to 702,060 tonnes in the first seven months of the year 2009 (7MCY09) as compared to only 193,941 tonnes during the same period a year earlier, according to data released by National Fertilizer Development Centre (NFDC). more... (FD)


(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

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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.