October 21, 2009
KSE-100 Index
Previous Index 9,411.29
Current Index 9,569.07
Change % 1.68%
YTD (CY09) 63.20%
YTD (FY10) 33.60%

International Indicators
  Close %age
BSE-30 17,223.01 (0.59)%
HANGSENG 22,384.96 0.83%
NIKKEI 255 10,336.84 1.00%
FTSE 5,243.40 (0.70)%
DJIA 10,041.48 (0.50)%
SSEC 3,084.45 1.52%
NASDAQ 2,163.47 (0.59)%

Oct 19 , 2009 1.54
Oct, 2009 78.47
YTD 303.27

Money Market Updates
6m T-bill (Oct 07, 2009) 12.59%
12m T-bill (Oct 07, 2009) 12.61%
3m KIBOR 12.60%
6m KIBOR 12.65%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 124.88
Rs/UK 136.77
Rs/US 83.40
Rs/OR 217.25

Oil $78.72/barrel
Oil Change in % (0.51)%
Gold $1,056.80/ounce
Gold Change in % (0.17)%

CPI Gen. - YoY (Sep 09) 10.10%
CPI Gen. - FY10 (Jul -Sep 09) 10.70%
NFNE Core INFL - YoY (Sep 09) 11.90%
NFNE Core INFL - FY10 (Jul-Sep 09) 12.90%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.63mn
US$ Reserves (Oct 10, 2009) 14.46bn
Trade Deficit (Sep 09) $(3.09)bn
Curr. A/C (Aug 09) $(527)mn
Remittances (Jul -Sep 09) $2.33bn
Foreign Investment (Jul -Sep-09) $671.1mn
All Sch. Banks Deposit Base (Oct 10, 2009) Rs4,133bn

NAVs and Returns
as of Oct 20, 2009
Funds Offer Redemption
POBOP 51.3900/- 50.8761/-
Daily Return 9.78%
POAIIF 52.9371/- 52.4077/-
Daily Return 7.59%
POAIF 55.58/- 54.19/-
Daily Return 108.09%
POASF 56.43/- 55.02/-
Daily Return 226.96%
POAF 10.3217/-
Daily Return 20.62%
*Daily Returns are calculated as per MUFAP guidelines

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

Pakistan to get $874 million tranche
Pakistan will receive the third tranche, of $874 million, from International Monetary Fund (IMF) after review of Pakistan economy in Dubai on November 2-10, sources told Business Recorder more...

Three IMF targets achieved
The country has achieved IMF's three primary targets which include limiting budgetary borrowing, net domestic assets (NDA) and net foreign assets (NFA) set for the quarter ending September 2009, sources told Business Recorder on Tuesday more... (BR)

Government fails to achieve first quarter PSDP targets
Budgetary allocations for the 2009-10 Public Sector Development Programme (PSDP) constituted over-ambitious targets and the government is finding it extremely difficult to meet a mere three-and-a-half months after the budget was announced, well placed sources told Business Recorder on Tuesday more... (BR)


US backs army action in Waziristan, but cautiously
The United States has so far been very cautious in expressing public support for the South Waziristan operation, perhaps because of the fear that even positive remarks could have an adverse affect on Pakistan’s efforts to defeat the extremists more... (D)

Pakistan urges Nato to seal Afghan border
General Majid also called for the ‘synchronization of effort on both sides and sharing of real time intelligence.’ more... (D)

President and Prime Minister discuss security situation
Prime Minister Syed Yusuf Raza Gilani on Tuesday called on President Asif Ali Zardari at the presidency and discussed matters relating to political and security situation, says a press release issued here by the President House more... (BR)

Sector Briefing

Collateral held against NPLs: SBP enhances FSV benefit to 40 percent
The State Bank of Pakistan (SBP) on Tuesday announced further relaxation in the provisioning of loans for banks and DFIs and has allowed 40 percent benefit of forced sale value (FSV) on pledged stocks and mortgaged commercial and residential properties held as collateral against all non-performing loans (NPLs). On October 12, 2007, the SBP had completely withdrawn the benefit of FSV against all NPLs for calculating provisioning requirement from December 31, 2007 more... (BR)

Bhagwandas commission: Supreme Court laments delay in adopting oil pricing mechanism
The Supreme Court on Tuesday lamented the delay in adoption of the new pricing mechanism for petroleum products proposed by the Justice Bhagwandas commission for providing relief to consumer. "Such cases should not come before the court; it is the job of the government, and we have waited three months for the government to perform its role, but nothing has been done", observed Chief Justice Iftikhar Muhammad Chaudhry more... (BR)

Ghani Gases announces offer of 10m shares
Meanwhile, Engro apprised KSE of its investment plans and Attock Petroleum announced its quarterly results more... (D)

(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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