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December 04, 2009
Statistics
KSE-100 Index
Previous Index 9,087.70
Current Index 9,096.23
Change % 0.09%
YTD (CY09) 55.10%
YTD (FY10) 27.00%

International Indicators
  Close %age
BSE-30 17,185.68 0.09%
HANGSENG 22,553.87 1.19%
NIKKEI 255 9,977.67 3.80%
FTSE 5,313.00 (0.30)%
DJIA 10,366.15 (0.83)%
SSEC 3,264.63 (0.16)%
NASDAQ 2,173.14 (0.54)%

SCRA
Dec 02 , 2009 (6.66)
December, 2009 (8.93)
YTD 306.03

Money Market Updates
6m T-bill (Dec 02, 2009) 12.25%
12m T-bill (Dec 02, 2009) 12.09%
3m KIBOR 12.31%
6m KIBOR 12.41%
10 yrs PIB 12.48%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 126.16
Rs/UK 139.43
Rs/US 83.68
Rs/OR 215.80

Commodities
Oil $75.91/barrel
Oil Change in % (0.72)%
Gold $1,203.80/ounce
Gold Change in % (1.19)%

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 28, 2009) 13.72bn
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 03, 2009
Funds Offer Redemption
POBOP 52.0959/- 51.5749/-
Daily Return 9.48%
POAIIF 53.3437/- 52.8103/-
Daily Return 8.12%
POAIF 55.79/- 54.40/-
Daily Return (13.41)%
POASF 56.29/- 54.88/-
Daily Return 19.96%
POAF 10.5133/-
Daily Return 17.32%
*Daily Returns are calculated as per MUFAP guidelines

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

SBP sees little Dubai impact, remittances up
Pakistan sees little if any fallout from Dubai's debt crisis and expects remittances from its workers overseas to grow despite problems in the Gulf, the central bank governor said on Thursday. Risk premium is improving and it could see inflows if investors decide to leave Dubai, said State Bank governor Salim Raza more... (BR)

Domestic debt up at Rs4.07tn
The country's domestic debt surged by Rs219.5 billion to record level of Rs4.07 trillion during first four months of the current fiscal year (4MFY10) as against Rs3.85 trillion in June 2009, according to data released by State Bank of Pakistan (SBP) Thursday more... (FD)

Reserves slip
Foreign exchange reserves of the country fell to $13.72bn in the week that ended on Nov 28 from $13.90bn the previous week, the SBP said on more... (D)

Politics

Interpretation of NRO: Supreme Court constitutes 17-member bench
The Supreme Court on Thursday constituted a 17-member bench to hear petitions and allied concerns, involving examination or interpretation of the lapsed National Reconciliation Ordinance (NRO) from Monday (December 7) more... (BR)

Congress worries over Obama's plan
President Barack Obama's planned troop buildup in Afghanistan came in for more scepticism Thursday with lawmakers zeroing in on how the US will deal with terrorist havens in neighbouring Pakistan. ``What happens in Pakistan ... will do more to determine the outcome in Afghanistan than any increase in troops or shift in strategy,' said Senator John Kerry, chairman of the Senate Foreign Relations Committee more... (BR)

Gilani wants 'more clarity' on US strategy
Prime Minister Yousuf Raza Gilani said on Thursday that he wanted 'more clarity' from the Americans on President Barack Obama's new war strategy in Afghanistan. "Let's examine it and then we will talk on this issue," he said. He said the US leadership took Pakistan on board on the new Afghan policy and in this connection Foreign Minister Shah Mehmood Qureshi would soon meet with his British counterpart to discuss the issue more... (BR)

Sector Briefing

Pending cases: OGDCL mulls out-of-court settlement with private company
Having lost over $800 million, $1.5 million per day, the state-owned largest exploration and production company, Oil and Gas Development Company Limited (OGDCL), is considering an out-of-court settlement with a private sector company, which is engaged in litigation with it in different courts including Supreme Court and high courts more... (BR)

Refineries told to submit 5 years' financial results
Oil refineries have been asked to present their financial statements of the last five years before any decision is made on amendments in the more... (D)

Silkbank to issue Rs7bn right shares
Silkbank announced on Thursday that it would inject Rs7 billion to raise the paid-up capital through issuance of right shares, but one of the more... (D)

(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.