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September 02, 2009
Statistics
KSE-100 Index
Previous Index 8,675.67
Current Index 8,769.24
Change % 1.08%
YTD (CY09) 49.52%
YTD (FY10) 22.44%

International Indicators
  Close %age
BSE-30 15,551.19 (0.74)%
HANGSENG 19,872.30 0.75%
NIKKEI 255 10,530.06 0.36%
FTSE 4,819.70 (1.82)%
DJIA 9,310.60 (1.96)%
SSEC 2,667.75 (6.74)%
NASDAQ Composite 1,968.89 (2.00)%

SCRA
Aug 31, 2009 6.759
Aug 2009 66.084
YTD 71.051

Money Market Updates
6m T-bill (Aug 26, 2009) 12.44%
12m T-bill (Aug 26, 2009) 12.42%
3m KIBOR 12.53%
6m KIBOR 12.56%
10 yrs PIB 12.38%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 119.14
Rs/UK 135.29
Rs/US 83.09
Rs/OR 214.24

Commodities
Oil $68.49/barrel
Oil Change in % (2.44)%
Gold $955.10/ounce
Gold Change in % 0.20%

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 $1,046
Population 167.32mn
US$ 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 Sept 01, 2009
Funds Offer Redemption
POBOP 51.6310/- 51.1147/-
Daily Return 9.34%
POAIIF 52.4821/- 51.9573/-
Daily Return 7.73%
POAIF 54.88/- 53.51/-
Daily Return (27.26)%
POASF 54.94/- 53.57/-
Daily Return 27.27%
POAF 11.11/-
Daily Return 13.06%
*Daily Returns are calculated as per MUFAP guidelines

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

State Bank of Pakistan (SBP) orders agri loans under Revolving Credit Scheme (RCS)
State Bank of Pakistan (SBP), in order to facilitate farming community, has directed commercial banks to divide repayment of crop production loans under Revolving Credit Scheme (RCS) for agriculture in two instalments. more... (FD)

Securities and Exchange Commission of Pakistan (SECP) amends deposits rules
The Securities and Exchange Commission of Pakistan (SECP) has withdrawn the earlier amendments made in the Companies' Invitation and Acceptance of Deposits Rules, 1987. According to a statement issued by the SECP here Tuesday, the decision was taken with the approval of the Federal Government. more... (FD)


Politics

Saudi Arabia stands against Musharraf trial
Saudi Arabia on Tuesday formally sent a message to Pakistani leadership that they want stability in Pakistan while King Abdullah has again urged all stakeholders to abide by the agreement on the thorny matter of former President Musharraf. more... (FD)

Zardari rejects row with ‘N’
President Asif Ali Zardari has strongly refuted any confrontation with PML-N, and has denied allegations about any cell working against anybody. A high-ranking consensus and advisory meeting was convened by President in Aiwan -e-Sadr, which deliberated on such important issues like recent blame-game --started by former IB chief Brigadier (Retd) Imtiaz and retired generals-- widening gulf between PML-N and PPPP, constitutional committee affairs, and prevalent status of cooperation between coalition partners. more... (FD)

N’ won’t join anti-democracy drive, says Sharif
PML-N forms media team to retaliate PPP campaign
No one would be allowed to deprive nation of benefits of democracy
Former prime minister and Quaid Pakistan Muslim League (PML-N) Mian Mohammad Nawaz Sharif has constituted a media team comprising senior party leaders for giving a befitting response to ruling Pakistan Peoples Party (PPP) in its smear campaign against party leadership. more... (FD)


Sector Briefing

Oil and Gas Development Company (OGDC) finds oil, gas at Nashpa
The Oil and Gas Development Company Limited (OGDCL) has once again discovered oil and gas from its exploratory well Nashpa #1. The well is located in District Karak of NWFP province. Based on initial testing results, the discovery is estimated to contain 3,000 barrels of oil and 9.678 million standard cubic feet a day of gas (mmscfd). more... (FD)

National Investment Trust Limited (NIT) launching 2 income funds
National Investment Trust Limited (NIT) is all set to launch two new income funds during current month before Eid-ul-Fitr. Tariq Iqbal Khan, MD NIT told The Financial Daily here Tuesday that the first fund named as "NIT Government Bond Fund (NIT-GBF)", which will be an open-end fund and invest in government debt instruments, i.e. T-Bills, PIBs and also participate in Reverse Repo. more... (FD)

Presentation on UIN at Karachi Stock Exchange (KSE) today
Karachi Stock Exchange (KSE) will have a presentation on client level margin system on Wednesday (today). According to KSE here Tuesday, the Exchange has developed a proprietary UIN-based new system for the client level margining which is under user acceptance test. more... (FD)

Pakistan International Container Terminal Limited (PICT) FY09 earnings jump 77pc
Pakistan International Container Terminal Limited (PICT) showed robust profitability growth of 76.8 per cent for Financial Year 2008-09 as report profit worth Rs936 million (EPS: Rs8.59) as compared to Rs529 million (EPS: Rs4.86) in the same period last year. more... (FD)

Pakarab Fertilizers Limited (PAFL) EPS dips to Rs3.22 for 1H
The earning per share of Pakarab Fertilizers Limited (PAFL) dipped to Rs3.22 for January-June 2009 period (1HCY09) from Rs4.52 during the corresponding period last year. This decline can only be attributed to colossal increase of sales cost. The company posted an after tax profit worth Rs1,450 million for 1HCY09 as compared to Rs2,033 million for 1HCY08. more... (FD)

Cherat Cement Company Limited (CHCC) profits jump by 14 times for FY09
Cherat Cement Company Limited (CHCC) announced Tuesday its financial results for the year ended June 30, 2009 (FY09), according to which, the company has announced a profit after tax of Rs159.28 million as compared to Rs10.35 million during the same period last year. 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.