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November 19, 2009
Statistics
KSE-100 Index
Previous Index 9,204.98
Current Index 9,144.76
Change % (0.65)%
YTD (CY09) 55.90%
YTD (FY10) 27.70%

International Indicators
  Close %age
BSE-30 16,988.78 (0.30)%
HANGSENG 22,840.33 (0.32)%
NIKKEI 255 9,676.80 (0.60)%
FTSE 5,342.13 (0.10)%
DJIA 10,426.31 (0.11)%
SSEC 3,303.23 0.62%
NASDAQ 2,193.14 (0.48)%

SCRA
Nov 17 , 2009 (8.64)
November, 2009 19.08
YTD 314.01

Money Market Updates
6m T-bill (Nov 04, 2009) 12.33%
12m T-bill (Nov-04, 2009) 12.22%
3m KIBOR 12.73%
6m KIBOR 12.75%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 124.19
Rs/UK 140.20
Rs/US 83.59
Rs/OR 217.47

Commodities
Oil $79.53/barrel
Oil Change in % (0.06)%
Gold $1,141.50/ounce
Gold Change in % 0.03%

Inflation
CPI Gen. - YoY (Oct 09) 8.90%
CPI Gen. - FY10 (Jul -Oct 09) 10.20%
NFNE Core INFL - YoY (Oct 09) 11.00%
NFNE Core INFL - FY10 (Jul-Oct 09) 12.40%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.63mn
US$ Reserves (Nov 07, 2009) 14.27bn
Trade Deficit (Sep 09) $(3.09)bn
Curr. A/C (Sep 09) $(462)mn
Remittances (Jul -Oct 09) $3.10bn
Foreign Investment (Jul -Sep-09) $671.1mn
All Sch. Banks Deposit Base (Nov 14, 2009) Rs4,206bn

NAVs and Returns
as of Nov 18, 2009
Funds Offer Redemption
POBOP 51.8507/- 51.3322/-
Daily Return 9.61%
POAIIF 53.1821/- 52.6503/-
Daily Return 8.22%
POAIF 55.63/- 54.24/-
Daily Return (26.90)%
POASF 56.18/- 54.78/-
Daily Return 0.00%
POAF 10.4150/-
Daily Return 15.05%
*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 convene on Dec 12 to finalise 4th tranche
The IMF executive board is expected to meet in Washington on Dec 12 to finalise the fourth disbursement of $1.2 billion under the Pakistan’s Stand-by Arrangement, official sources revealed here on Wednesday more... (D)

Foreign investment declines
The foreign direct investment (FDI) is continuously on the decline for last few months and it posted a decline of 53 percent during the first four months of the current fiscal year. The State Bank of Pakistan (SBP) on Wednesday said that FDI at 621.8 million dollars during the first four months (July-October) of current fiscal year 2009-10, registered a decline of 707.7 million dollars, or 53.2 percent from 1.329 billion dollars in the same period of last fiscal year 2008-09 more... (BR)

Reduction in T-bill yield hints rate cutCut-off yield on 12M paper down by 30bps
Cut in discount rate is very much on cards after the outcome of the T-Bill auction held Wednesday where cut-off yield on 12M paper went down by 30bps. The total amount realised in the auction was Rs24 billion which is Rs4 billion more from the target of Rs20 billion more... (FD)

Politics

Secretariat in the grip of corruption scandals
Pakistan Secretariat, a complex of key Federal Ministries, except Defence and Foreign Affairs, is in the grip of corruption scandals. Immediately after the release of Transparency International (TI) report, Prime Minister Yousaf Raza Gilani ordered an inquiry, under the chairmanship of Finance Minister Shaukat Tarin, into Pakistan's poor performance in the corruption index more... (BR)

India says needs no help to heal ties with Pakistan
India on Wednesday said it needs no external help to improve ties with neighbor Pakistan, in a testy response to a statement issued by the United States and China more... (D)

Oath-taking ceremony: Zardari, Karzai hold wide-ranging talks
President Asif Ali Zardari held wide-ranging talks with his Afghan counterpart Hamid Karzai here on Wednesday, with focus on enhancing bilateral co-operation in diverse fields as well as joint efforts for the eradication of the menace of terrorism. President Zardari, who arrived here on a two-day visit to attend the oath-taking ceremony of President Karzai being held on Thursday, drove straight from Kabul airport to the Presidential Palace for talks with the Afghan President more... (BR)

Sector Briefing

Fertiliser sector benefits from strong DAP off-take
High demand resulted in Rs10bln profits for the four largest companies for the current season more... (D)

Transfer of immovable property: CVT may be raised to eight percent
The doubling of capital value tax (CVT) on transfer of immovable property from 4 percent to 8 percent for buyers having no National Tax Number (NTN), and enhancement of withholding tax on cash withdrawal from banks may be the two major short-term measures to generate additional revenue more... (BR)

Fixed line, cellphone companies to be treated equally
To provide level playing field to private sector in the telecom sector, the Federal Cabinet has accorded approval for equal treatment to both fixed line and cellular operators. The Cabinet meeting, chaired by Prime Minister Syed Yousuf Raza Gilani on Wednesday, directed the Ministry of Information Technology to submit a proposal to the Prime Minister for the decision regarding funds utilisation 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.