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October 26, 2009
Statistics
KSE-100 Index
Previous Index 9,154.00
Current Index 9,150.85
Change % (0.03)%
YTD (CY09) 56.00%
YTD (FY10) 27.80%

International Indicators
  Close %age
BSE-30 16,810.81 0.13%
HANGSENG 22,589.73 1.71%
NIKKEI 255 10,282.99 0.15%
FTSE 5,242.57 0.70%
DJIA 9,972.18 (1.08)%
SSEC 3,107.85 1.85%
NASDAQ 2,154.47 (0.50)%

SCRA
Oct 23 , 2009 (4.41)
Oct, 2009 76.58
YTD 301.39

Money Market Updates
6m T-bill (Oct 21, 2009) 12.60%
12m T-bill (Oct 21, 2009) 12.61%
3m KIBOR 12.78%
6m KIBOR 12.79%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 124.90
Rs/UK 135.76
Rs/US 83.36
Rs/OR 216.77

Commodities
Oil $79.75/barrel
Oil Change in % (0.93)%
Gold $1,056.00/ounce
Gold Change in % (0.04)%

Inflation
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 17, 2009) 14.48bn
Trade Deficit (Sep 09) $(3.09)bn
Curr. A/C (Sep 09) $(462)mn
Remittances (Jul -Sep 09) $2.33bn
Foreign Investment (Jul -Sep-09) $671.1mn
All Sch. Banks Deposit Base (Oct 17, 2009) Rs4,130bn

NAVs and Returns
as of Oct 24, 2009
Funds Offer Redemption
POBOP 51.4366/- 50.9222/-
Daily Return 9.77%
POAIIF 52.9802/- 52.4504/-
Daily Return 7.73%
POAIF 55.47/- 54.08/-
Daily Return 6.75%
POASF 56.22/- 54.81/-
Daily Return 6.66%
POAF 10.3400/-
Daily Return 12.75%
*Daily Returns are calculated as per MUFAP guidelines

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

First tranche of $1.5 billion under KLB: passage of appropriation bill awaited
Pakistan will receive disbursement of the 1.5 billion dollar per annum assistance envisaged under the Kerry-Lugar bill in the current fiscal only if both the houses of the US pass the appropriation bill soon and after it is signed by President Obama more... (BR)

Transfer of remittances into accounts: SBP introduces new payment mechanism
The State Bank of Pakistan on Saturday introduced a new payment mechanism under which five major commercial banks have begun transferring remittances into beneficiaries' accounts the same day more... (BR)

MONEY WEEK: government borrowings for budgetary support up Rs 34 billion
With most IMF targets, including that of budgetary borrowings, already met, corrective measures taken at the close of the quarter seem to be losing hold as according to latest SBP data budgetary borrowings registered a big increase, of nearly Rs 34 billion, during the week falling between October 3 and 10 more... (BR)

Politics

Zardari and Nawaz meeting today
Pakistan Muslim League (N) chief Nawaz Sharif will meet President Asif Ali Zardari at Presidency on Monday, Aaj News reported. According to the channel, both the leaders will discuss war against terror and cases registered against former president Musharraf under Article 6 more... (BR)

Hillary's Pakistan visit significant, says Holbrooke
‘This is a people-to-people trip. It’s an expression of the support of President Obama and his administration’: Holbrooke more... (D)

Success in operation mandatory, says Kayani
Chief of the Army Staff General Ashfaq Parvez Kayani visited South Waziristan Agency (SWA), reported a private television on Sunday. He inspected the operation in SWA and met jawans and officers engaged in the operation and lauded them for their high morale more... (FD)

Sector Briefing

OMCs profits in robust rise1QFY10
Real booster was Rs1.56bn inventory gains
After witnessing a nosedive during the fiscal year 2008-09, the oil marketing companies (OMCs), listed in the country's bourses, bounced back in the first quarter of the current fiscal year (1QFY10) more... (FD)

RPPs, fast track power projects: US willing to help out
The United States has expressed dissatisfaction over investment climate in Pakistan, but assured its full support in dealing with the energy crisis through short-term solutions, including the much criticised rental power plants (RPPs) and the fast track power projects, initiated by the American investors, well-informed sources told Business Recorder on Saturday more... (BR)

MoP seeks Ethanol-10 repricing
The Petroleum Ministry has proposed to the government to work out ex-distillery price of Ethanol-10, which contains 40 percent less energy as compared to motor gasoline, source told Business Recorder. At present, the government is extending only Rs 2.50 per litre concession on E-10, despite the fact that lower energy output of this fuel, compared to others, is putting more pressure on car engines 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.