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December 03, 2009
Statistics
KSE-100 Index
Previous Index 9,013.04
Current Index 9,087.70
Change % 0.83%
YTD (CY09) 54.90%
YTD (FY10) 26.90%

International Indicators
  Close %age
BSE-30 17,169.91 (0.16)%
HANGSENG 22,289.57 0.80%
NIKKEI 255 9,608.94 0.40%
FTSE 5,327.39 0.30%
DJIA 10,452.68 (0.18)%
SSEC 3,269.75 1.06%
NASDAQ 2,185.03 0.42%

SCRA
Dec 01 , 2009 (2.26)
November, 2009 20.02
YTD 312.69

Money Market Updates
6m T-bill (Dec 02, 2009) 12.25%
12m T-bill (Dec 02, 2009) 12.09%
3m KIBOR 12.30%
6m KIBOR 12.40%
10 yrs PIB 12.62%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 126.10
Rs/UK 138.81
Rs/US 83.68
Rs/OR 216.22

Commodities
Oil $76.89/barrel
Oil Change in % 0.38%
Gold $1,220.10/ounce
Gold Change in % 0.59%

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 02, 2009
Funds Offer Redemption
POBOP 52.0829/- 51.5621/-
Daily Return 9.33%
POAIIF 53.3323/- 52.7990/-
Daily Return 7.08%
POAIF 55.82/- 54.42/-
Daily Return 47.01%
POASF 56.26/- 54.85/-
Daily Return 46.64%
POAF 10.5087/-
Daily Return 12.54%
*Daily Returns are calculated as per MUFAP guidelines

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

Three-month fiscal deficit at 1.5 percent of GDP
Budget deficit for the first three months of the 2009/10 fiscal year was 223.67 billion rupees ($2.68 billion) or 1.5 percent of gross domestic product (GDP), the Finance Ministry said on its website. The International Monetary Fund (IMF) and the government had targeted a budget deficit for the three months ending on September 30 of 194 billion rupees, or 1.3 percent of GDP more... (BR)

FBR tax collection stands at Rs 81 billion till November 26
The Federal Board of Revenue (FBR) has provisionally collected nearly Rs 81 billion till November 26, 2009 against the target of Rs 91 billion, reflecting a shortfall of Rs 10 billion. FBR Chairman Sohail Ahmed told reporters here on Wednesday that the provisional collection has reached around Rs 81 billion however, there would be significant improvement in collection following compilation of November's final figures more... (BR)

Govt cuts T-bill rates
First cut in the treasury bill rates after review of monetary policy was introduced on Wednesday when the government raised over Rs15 billion more... (D)

Politics

US success 'inextricably linked' to Pakistan: Obama sending 30,000 more troops to Afghanistan
President Barack Obama said on Tuesday that US success in Afghanistan, where he plans to deploy 30,000 more troops, was "inextricably linked" to Washington's partnership with Pakistan. "We will act with the full recognition that our success in Afghanistan is inextricably linked to our partnership with Pakistan," Obama told cadets at the US military academy at West Point more... (BR)

Held Kashmir: India ready to withdraw troops
India's home minister said Wednesday the government was prepared to withdraw a "significant" number of troops from the Occupied Kashmir. The presence of Indian soldiers in Occupied Kashmir, especially in the Muslim-dominated Kashmir valley, has long been a major source of tension in the region where militants have battled New Delhi's rule for two decades more... (BR)

President, PM not in conflict over powers: Gilani
Prime Minister Syed Yousuf Raza Gilani has said that he is not at odds with President Asif Ali Zardari over power issues more... (D)

Sector Briefing

Hubco to start work on Laraib Energy IPP shortly
The government of Pakistan on Wednesday executed the GoP Guarantee, thereby accepting the Financial Close of Hub Power Company's 75 percent-owned subsidiary, Laraib Energy Limited. In an information sent to Karachi Stock Exchange (KSE), Hubco said that Laraib Energy is setting up the 84 MW first hydel IPP of Pakistan. According to the company, the construction activities will commence shortly more... (BR)

Refineries seeking higher margin on petroleum products
Oil refineries in the country may seek higher margins on petroleum refining in the first meeting of Oil Pricing Formula Review Committee more... (D)

Court to show no mercy to Rs nine billion BoP loan defaulters
The Supreme Court on Wednesday gave clear indication of showing no mercy to the defaulters of Rs 9 billion Bank of Punjab (BoP) loan scam, if they failed to pay the money back. Sheikh Afzal, chief executive of Haris Steel Industry, and his son, Haris Afzal, were arrested from Malaysia and produced before the court 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.