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October 02, 2009
Statistics
KSE-100 Index
Previous Index 9,349.68
Current Index 9,301.18
Change % (0.52)%
YTD (CY09) 58.60%
YTD (FY10) 29.90%

International Indicators
  Close %age
BSE-30 17,134.55 0.05%
HANGSENG 20,955.25 (0.28)%
NIKKEI 255 9,978.64 (1.50)%
FTSE 5,047.81 (1.70)%
DJIA 9,509.28 (2.09)%
SSEC 2,779.43 0.90%
NASDAQ 2,057.48 (3.06)%

SCRA
Sept 30, 2009 (1.834)
Sept 2009 153.750
YTD 224.801

Money Market Updates
6m T-bill (Sep 09, 2009) 12.78%
12m T-bill (Sep 09, 2009) 12.48%
3m KIBOR 12.60%
6m KIBOR 12.65%
10 yrs PIB 12.46%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 121.79
Rs/UK 132.81
Rs/US 83.22
Rs/OR 217.28

Commodities
Oil $70.20/barrel
Oil Change in % (0.88)%
Gold $1,000.90/ounce
Gold Change in % 0.02%

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 26, 2009) 14.49bn
Trade Deficit (Aug 09) $(2.19)bn
Curr. A/C (Aug 09) $(527)mn
Remittances (Jul -Aug 09) $1.53bn
Foreign Investment (Jul -Aug-09) $412.2mn
All Sch. Banks Deposit Base (Sep 26, 2009) Rs.4,162bn

NAVs and Returns
as of Oct 01, 2009
Funds Offer Redemption
POBOP 51.4554/- 50.9408/-
Daily Return 12.96%
POAIIF 52.8577/- 52.3291/-
Daily Return 7.37%
POAIF 55.79/- 54.40/-
Daily Return (40.21)%
POASF 56.44/- 55.03/-
Daily Return (19.89)%
POAF Book Closure
Daily Return N/A
*Daily Returns are calculated as per MUFAP guidelines

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

IMF raises growth forecast
The IMF raised its growth forecast on Thursday for the world economy next year and manufacturing picked up across Asia and Europe, but policymakers were split over when to begin withdrawing fiscal aid. Governments around the world have poured billions into the economy and cut interest rates to often historic lows to ease recession. But some economists fear that tightening policy too early or too sharply may derail still-fragile growth more... (BR)

SBP moves to ease liquidity shortage
Ramazan related outflows forced the State Bank to inject over Rs60.2 billion into banks on Thursday more... (D)

SC to frame guidelines for CCP to fix sugar price
The Supreme Court believes the CCP should fix sugar prices instead of relying on competition and market forces more... (D)

Politics

Osama alive; Mullah Omar in Quetta: foreign office dismisses assertion
The Untied States once again claimed that Osama bin Laden is alive and Taliban leadership including Mullah Omar is present in Quetta and is planning terror activities from there. Talking to media, Deputy Chief of the Mission of the US Embassy Gerald M Festine alleged that Osama is at present in Pakistan, adding that the command system of Taliban is based in Quetta and they are planning to operate from the suburbs of the city more... (BR)

Battle for Waziristan looms
The Army plans to launch the ‘mother of all battles’ to drive militants out of South Waziristan in the next few days more... (D)

PML-Q, ‘N' join against NROMQM says it's to early to comment
Politicians have hailed the Supreme Court of Pakistan's decision to declare the November 3, 2007 steps of former president Pervez Musharraf as illegal and called for tabling National Reconciliation Ordinance (NRO) in the Parliament more... (FD)

Sector Briefing

Saudi group grabs 59pc MyBank stakeDeal brings in $51.118mn inflow
Finally second deal of Acquisition of MyBank struck in CY09 with 59.34 per cent acquisition of MyBank Ltd stake by Suroor Investments Ltd, a company of Al Suroor United Group of Saudi Arabia. The deal is subject to satisfaction of certain conditions and compliance with applicable laws. This deal would bring $51.118 million of FDI in Pakistan which needs inflows to support its economy more... (FD)

Government plan to sell PTCL assets: Chief Justice takes suo motu notice
Chief Justice Iftikhar Muhammad Chaudhry on Thursday took suo motu notice of government's plan to sell valuable assets of PTCL to Etisalat at "throw-away" prices. Chaudhry Muhammad Rashid, a resident of Rawalpindi, has filed an application, stating that Privatisation Commission has issued a declaration in which it is said that agreements were expected between Etisalat, Punjab and Sindh governments for the transfer of PTCL land in the name of Etisalat more... (BR)

Furnace oil price cut
Oil marketing companies on Thursday announced reduction in furnace oil price by Rs 302 per tonne, with immediate effect. With the current reduction, furnace oil price in the domestic market has declined to Rs 43,075 per tonne from Rs 43,377 per tonne. New rates would be for next 15 days 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.