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September 15, 2009
Statistics
KSE-100 Index
Previous Index 9,058.77
Current Index 9,075.26
Change % 0.18%
YTD (CY09) 54.70%
YTD (FY10) 26.70%

International Indicators
  Close %age
BSE-30 16,214.19 (0.31)%
HANGSENG 20,932.20 (1.08)%
NIKKEI 255 10,202.06 (2.30)%
FTSE 5,018.85 0.20%
DJIA 9,626.80 0.22%
SSEC 3,025.73 1.20%
NASDAQ 2,091.78 0.52%

SCRA
Sept 11, 2009 3.360
Sept 2009 111.688
YTD 182.739

Money Market Updates
6m T-bill (Sep 09, 2009) 12.78%
12m T-bill (Sep 09, 2009) 12.48%
3m KIBOR 12.61%
6m KIBOR 12.67%
10 yrs PIB 12.51%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 120.64
Rs/UK 137.81
Rs/US 82.98
Rs/OR 216.11

Commodities
Oil $68.77/barrel
Oil Change in % (0.13)%
Gold $1,000.30/ounce
Gold Change in % (0.08)%

Inflation
CPI Gen. - YoY (Aug 09) 10.70%
CPI Gen. - FY10 (Jul -Aug 09) 10.90%
NFNE Core INFL - YoY (Aug 09) 12.60%
NFNE Core INFL - FY10 (Jul-Aug 09) 13.30%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.34mn
US$ Reserves (Sep 05, 2009) 14.24bn
Trade Deficit (Aug 09) $(2.19)bn
Curr. A/C (Jul 09) $(606)mn
Remittances (Jul -Aug 09) $1.53bn
Foreign Investment (Jul 09) $195.6mn
All Sch. Banks Deposit Base (Sep 05, 2009) Rs.4,099bn

NAVs and Returns
as of Sept 14, 2009
Funds Offer Redemption
POBOP 51.8989/- 51.3799/-
Daily Return 10.42%
POAIIF 52.6147/- 52.0886/-
Daily Return 7.75%
POAIF 55.41/- 54.02/-
Daily Return (53.89)%
POASF 55.92/- 54.52/-
Daily Return (40.08)%
POAF 11.0902/-
Daily Return 12.95%
*Daily Returns are calculated as per MUFAP guidelines

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

Finance releases Rs five billion to Pepco
The Finance Ministry has released rupees five billion to Pakistan Electric Power Company (Pepco) to clear the dues of Pakistan State Oil (PSO), enabling it not to default on its letter of credits (L/Cs) for oil imports. Sources told Business Recorder that the Finance Ministry released the money to the Pepco on Monday for payment to independent power producers (IPPs) who would clear the PSO dues, which had piled up to Rs 92.486 billion more... (BR)

Zardari, Gilani discuss FoDP summit
Prime Minister Syed Yusuf Raza Gilani called on President Asif Ali Zardari here at President House on Monday night and discussed with him over all political situation in the country. Matters regarding law and order and security situation, the recently announced reforms package for Gilgit-Baltistan, the status of Pakistan's case for the forthcoming summit of FoDP and the unfortunate incident of stampede in Karachi came under discussion more... (BR)

Leverage product still a month away
The activation of much-awaited leverage product for the capital markets may take another month as the trading committee of Karachi Stock Exchange (KSE) is in the process of paperwork. Reliable sources told The Financial Daily here Monday that the product may take more than a month to be launched at the capital markets more... (FD)

Politics

Musharraf's exit: yes, there was a deal, says Zardari
President Asif Ali Zardari on Monday for the first time disclosed the deal between the PPP government and the international guarantors to give a safe passage to the former President Pervez Musharraf after his resignation from the office of President more... (BR)

Bin Laden says US support for Israel prompted 9/11
‘If you think about your situation well, you will know that the White House is occupied by pressure groups,’ he said more... (D)

Pakistan asks India to share information regarding terrorism
Pakistan has again asked India to share information regarding terrorism with the concerned quarters through proper diplomatic channels instead of giving it to media. Responding to a statement of Indian Home Minister, the foreign office spokesman said "we have seen a recent statement by the Indian Home Minister expressing apprehensions regarding possible terror strikes being planned by certain groups in Pakistan more... (BR)

Sector Briefing

Rs89bn TFCs being issued on Saturday
Term finance certificates (TFCs) worth Rs89 billion are being issued on Saturday for settlement of circular debt, and it would have a cumulative impact of Rs214 billion, said Finance Minister Shaukat Tarin more... (D)

Gencos, IPPs owe Rs97 billion to PSO
PSO says it needs Rs31bn immediately to pay overseas suppliers against the supply of oil and petroleum products more... (D)

PTCL carrying out up-gradation work
Pakistan Telecommunication Company Limited (PTCL) has started up-gradation work in surrounding of Main Khayaban-e-Sahar in the limits of Masri Shah Telephone Exchange. A release of the company said the due to the up-gradation work the telecomm services might be disturbed intermittently and hopefully the work would be completed within a week. PTCL regrets for any inconvenience, it added 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
  Imran Altaf
Research Analyst
Faizan Ahmed
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.