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November 04, 2009
Statistics
KSE-100 Index
Previous Index 8,872.40
Current Index 8,938.99
Change % 0.75%
YTD (CY09) 52.40%
YTD (FY10) 24.80%

International Indicators
  Close %age
BSE-30 15,404.94 (3.09)%
HANGSENG 21,240.06 (1.76)%
NIKKEI 255 9,802.95 (2.30)%
FTSE 5,037.21 (1.30)%
DJIA 9,771.91 (0.18)%
SSEC 3,114.23 1.22%
NASDAQ 2,057.32 0.40%

SCRA
Nov 02 , 2009 1.98
November, 2009 1.98
YTD 296.91

Money Market Updates
6m T-bill (Oct 21, 2009) 12.60%
12m T-bill (Oct 21, 2009) 12.61%
3m KIBOR 12.81%
6m KIBOR 12.84%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 123.62
Rs/UK 137.92
Rs/US 83.76
Rs/OR 218.46

Commodities
Oil $79.40/barrel
Oil Change in % (0.25)%
Gold $1,084.70/ounce
Gold Change in % (0.02)%

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 24, 2009) 14.43bn
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 24, 2009) Rs4,138bn

NAVs and Returns
as of Nov 03, 2009
Funds Offer Redemption
POBOP 51.5267/- 51.0114/-
Daily Return 6.73%
POAIIF 53.1006/- 52.5696/-
Daily Return 7.27%
POAIF 55.25/- 53.87/-
Daily Return 54.29%
POASF 55.88/- 54.48/-
Daily Return 94.04%
POAF 10.3634/-
Daily Return 12.72%
*Daily Returns are calculated as per MUFAP guidelines

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

Export refinance rates: Ministry to readjust increase from EISF
The Ministry of Textile Industry (Mintex) has decided to absorb the recent increase in export refinance rates by the State Bank of Pakistan and readjust this amount from the Export Investment Support Fund (EISF) of Rs 40 billion announced in the 2009-10 Federal budget more... (BR)

Pakistan and Turkey to increase bilateral trade to $2 billion
Pakistan and Turkey have agreed in principle to increase the level of bilateral trade to $2 billion from existing $700 million in a year. The understanding was reached during a meeting between the Foreign Minister Shah Mahmood Qureshi and his Turkish counterpart Professor Dr Ahmet Davutoglu, held on the sidelines of D-8 Council of Ministers held in Kuala Lumpur, says a message issued here by Pakistan's High Commission in Malaysia more... (BR)

Another sugar crisis raising head: Punjab mills not to start crushing before December
The country is heading towards another sugar crisis as most of the mills in Punjab are likely to delay the crushing, not before Eid-ul-Azha, because of working capital problem. But the delay would increase the sucrose content of the crop, sugar industry sources told Business Recorder more...

Politics

Government will not table NRO in parliament: Gilani thanks coalition partners for 'guidance'
Prime Minister Yousuf Raza Gilani has said the Charter of Democracy (CoD) will be implemented, and the 17th Constitutional amendment will be repealed to strengthen democracy. He was speaking in the National Assembly to condemn President Musharraf's November 3 2007 action declaring emergency in the country more... (BR)

President's powers to be cut: Gilani
Let the court decide on the NRO. Whatever the decision will be we will accept it, said the prime minister more... (D)

Committee given verification of Indian terror involvement
The committee recommended setting up of a national counter-terrorism authority to analyse and eliminate terrorism more... (D)

Sector Briefing

PSO to seek Rs 30 billion for furnace oil import: meeting on circular debt today
The Pakistan State Oil (PSO) is to request for at least Rs 30 billion funds to firm up import of furnace oil to meet the requirements of the power sector during peak winter season in a meeting scheduled for Wednesday. Sources told Business Recorder that Finance Minister Shaukat Tarin would chair the meeting on circular debt more... (BR)

Unsustainable prices cited as cause: four cement units suspend operation
Unsustainable prices of cement in the domestic market forced four cement units to suspend operation as there was no let-up in massive operational losses by these units, industry sources told Business Recorder on Tuesday. Cement prices fell to an unbelievably lower level in the domestic market due to over-the-demand production, they added more... (BR)

BMA Empress Cash Fund being launched next week
The BMA Empress Cash Fund (BECF) is being launched next week by BMA Asset Management Company as an open-end money market fund whose IPO will be held from 10 to 11 November 2009. The Fund's key objective is to maintain high liquidity and minimise risk which makes it the ideal vehicle for savers and deposit holders seeking to enhance income while maintaining the safety of a bank deposit 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.