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November 10, 2009
Statistics
KSE-100 Index
Previous Index 9,112.10
Current Index 8,936.48
Change % (1.93)%
YTD (CY09) 52.40%
YTD (FY10) 24.80%

International Indicators
  Close %age
BSE-30 16,498.72 2.11%
HANGSENG 22,207.55 1.73%
NIKKEI 255 9,808.99 0.20%
FTSE 5,142.72 0.30%
DJIA 10,023.42 0.17%
SSEC 3,164.04 0.28%
NASDAQ 2,112.44 0.34%

SCRA
Nov 06 , 2009 5.21
November, 2009 30.70
YTD 325.63

Money Market Updates
6m T-bill (Oct 21, 2009) 12.60%
12m T-bill (Oct 21, 2009) 12.61%
3m KIBOR 12.74%
6m KIBOR 12.76%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 124.08
Rs/UK 138.89
Rs/US 83.60
Rs/OR 217.54

Commodities
Oil $77.43/barrel
Oil Change in % (2.75)%
Gold $1,095.70/ounce
Gold Change in % 0.59%

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 31, 2009) 14.23bn
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 31, 2009) Rs4,194bn

NAVs and Returns
as of Nov 07, 2009
Funds Offer Redemption
POBOP 51.6137/- 51.0976/-
Daily Return 9.11%
POAIIF 53.1388/- 52.6074/-
Daily Return 8.16%
POAIF 55.25/- 53.87/-
Daily Return 142.84%
POASF 55.85/- 54.45/-
Daily Return 60.43%
POAF 10.3780/-
Daily Return 40.19%
*Daily Returns are calculated as per MUFAP guidelines

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

Policy rate may remain unchanged
Inflation is down, but signs are obvious that original target is not achievable and a rising inflationary trend in the last two-quarter of FY 2009-10 will aggravate, as the advantage of base rate effect would vanish. Fiscal slippage remains a worrying factor due to revenue shortfall and therefore higher deficit is a fair possibility more... (BR)

IMF targets: Govt throws in the towel
Pakistan asks IMF to drop tax-net, fiscal deficit conditions
After failing to achieve tax collection and fiscal deficit targets for first quarter of the current financial year (1QFY10), Government of Pakistan has requested the International Monetary Fund (IMF) to drop its set targets in the list of conditions to qualify for the fourth tranche of loan more... (FD)

Saudi Arabia announces $380 million loan for Pakistan
Saudi Arabia announced on Monday that it would give $380 million loan to Pakistan. According to a private TV channel, the agreement between Economic Affairs Division and Saudi Fund will be signed on Tuesday (today). $200 million will be spent to cover budget deficit whereas $100 million will be spent to buy urea for coming crops more... (BR)

Politics

Report on N-assets mischievous and absurd: Gen Majid
The Chairman Joint Chiefs of Staff Committee said that Pakistan did not need any foreign help to guard its nuclear facilities more... (D)

Three governors may be changed: government planning to cut size of Cabinet
Pakistan Peoples Party government is planning to cut the size of the Cabinet and change the governors of three provinces sans Punjab, reliable sources told Business Recorder on Monday. According to the sources, it was being felt in the party circles that expenditures on the huge size of the Cabinet were too much to bear, which could be curtailed to a great extent more... (BR)

India buys upgraded Israeli air defences for $1.1 billion
Israel has signed a $1.1 billion contract to supply an upgraded tactical air defence system to India, with delivery expected by 2017, an Israeli official said on Monday. The sale of the Barak-8 systems came as India's army chief, General Deepak Kapoor, held high-level talks in Israel, India's biggest defence supplier more... (BR)

Sector Briefing

PSO issues tender for 520,000 tons HSFO
Pakistan’s oil requirements are expected to rise 29 per cent by year-end as new oil-burning plants come online more... (D)

Oil refining capacity to reach 713,506 bpd
Crude oil refining capacity in the country would reach 713,506 barrels from the existing 248,506 barrels a day after the establishment of three more refineries, the National Assembly was informed here on Saturday more... (D)

E-10 ethanol-blended gasoline: petroleum ministry proposes mechanism to subsidise prices
The government will have to pay Rs 22.3 million subsidy per annum on one outlet of E-10 ethanol-blended gasoline to encourage its use in vehicles and make its price competitive compared to petrol, Business Recorder has learnt 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
Abdul Majid Butt
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.