BasedLine
LOGO
December 02, 2009
Statistics
KSE-100 Index
Previous Index 9,206.21
Current Index 9,013.04
Change % (2.10)%
YTD (CY09) 53.70%
YTD (FY10) 25.80%

International Indicators
  Close %age
BSE-30 17,198.27 1.61%
HANGSENG 22,113.15 1.34%
NIKKEI 255 9,572.20 2.40%
FTSE 5,312.17 2.30%
DJIA 10,471.58 1.23%
SSEC 3,235.36 1.25%
NASDAQ 2,175.81 1.46%

SCRA
Nov 26 , 2009 (0.27)
November, 2009 20.02
YTD 314.96

Money Market Updates
6m T-bill (Nov 18, 2009) 12.33%
12m T-bill (Nov-18, 2009) 12.22%
3m KIBOR 12.30%
6m KIBOR 12.40%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 125.45
Rs/UK 137.38
Rs/US 83.66
Rs/OR 216.08

Commodities
Oil $78.42/barrel
Oil Change in % 0.06%
Gold $1,216.00/ounce
Gold Change in % 1.32%

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 21, 2009) 13.90bn
Trade Balance (Jul-Oct 09) $(4.47)bn
Curr. A/C (Jul-Oct- 09) $(1.07)bn
Remittances (Jul -Oct 09) $3.10bn
Foreign Investment (Jul -Oct-09) $910.2mn
All Sch. Banks Deposit Base (Nov 21, 2009) Rs4,211bn

NAVs and Returns
as of Dec 01, 2009
Funds Offer Redemption
POBOP 52.0702/- 51.5495/-
Daily Return 12.80%
POAIIF 53.3223/- 52.7891/-
Daily Return 8.36%
POAIF 55.74/- 54.35/-
Daily Return (9.39)%
POASF 56.18/- 54.78/-
Daily Return (15.96)%
POAF 10.5053/-
Daily Return 51.06%
*Daily Returns are calculated as per MUFAP guidelines

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

$621 million FDI received during July-October: 50 percent decline from last year
The oil and gas sector has been the major recipient of foreign direct investment (FDI) during July-October 2009 period with $161.7 million, which amounted to 26 percent of total FDI inflows, sources told Business Recorder on Tuesday. They said that out of total $621 million FDI which Pakistan received during the period under review, $161 million was made in oil and gas exploration more... (BR)

$800m gap delaying signing of LoI with IMF
A financing gap of about $800 million during the current year is delaying signing of a letter of intent (LoI) between the International Monetary Fund and Pakistan authorities which is a pre-condition for the release of IMF’s $1.2 billion fourth disbursement under the stand-by arrangement more... (D)

Dubai debt crisis has little impact on Pakistan
While re-emergence of debt crisis has sent shock waves around the world, the extended Eid holidays proved to be a blessing in disguise for Pakistan's financial markets, analysts said. Though no listed company or government had direct exposure to two Dubai entities which are deferring debt repayment, there are some implications on local economy, they added more... (BR)

Politics

Petitions against NRO hearing on December 7: Supreme Court larger bench formed
Chief Justice Iftikhar Muhammad Chaudhry on Tuesday constituted a larger bench to hear on December 7 all petitions and related matters involving examination/interpretation of the National Reconciliation Ordinance (NRO) 2007. The NRO is among the 37 ordinances about which the apex court, in its July 31 decision, had issued decree that their fate be decided by Parliament within 120 days more... (BR)

Obama to speed up troop deployment in Afghanistan
President Barack Obama plans to send 30,000 more US troops to Afghanistan over six months, a senior administration official said on Tuesday, accelerating the deployment in a bid to beat back the Taliban and bring a quicker end to a costly and unpopular eight-year war more... (BR)

Repeal of 17th Amendment: PML-N accuses PPP of using delaying tactics
The main opposition Pakistan Muslim League-N has accused the Pakistan People’s Party of violating the agreed code of conduct for proceedings more... (D)

Sector Briefing

NBP on top in loan write-offs: Awan 3 political families got maximum debt relief
Federal Minister for Parliamentary affairs, Dr Babar Awan said Tuesday three major political families got their loans written off, mostly by the National Bank of Pakistan more... (FD)

Renewable energy power projects: SBP introduces financing facility
The State Bank of Pakistan on Tuesday introduced financing facility for establishment of new power projects using renewable energy with capacity of up to 10 mw with the view to meeting the growing electricity demand in the country. According to a Circular (SMEFD Circular No 19) issued on Tuesday, sponsors of power projects can avail financing facility through banks/DFIs for new imported and locally manufactured plant, machinery and equipment more... (BR)

IP gas pipeline consultancy: assignment to German firm opposed
The Sui Northern Gas Pipeline (SNGPL) and Sui Southern Gas Company (SSGC) have opposed the awarding of entire consultancy work to the German-based ILF consulting engineers on the Iran-Pakistan (IP) gas pipeline project. ILF on its part expresses fears that these two companies may result in scrapping the award of the contract on the feasibility study on the IP gas pipeline 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

Separator

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.