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December 18, 2009
Statistics
KSE-100 Index
Previous Index 9,253.66
Current Index 9,227.18
Change % (0.29)%
YTD (CY09) 57.30%
YTD (FY10) 28.80%

International Indicators
  Close %age
BSE-30 16,894.25 (0.11)%
HANGSENG 21,347.63 (1.22)%
NIKKEI 255 10,163.80 (0.10)%
FTSE 5,217.61 (1.90)%
DJIA 10,308.26 (1.27)%
SSEC 3,179.08 (2.34)%
NASDAQ 2,180.05 (1.22)%

SCRA
Dec 16 , 2009 (1.30)
December, 2009 (50.03)
YTD 264.93

Money Market Updates
6m T-bill (Dec 02, 2009) 12.25%
12m T-bill (Dec 02, 2009) 12.09%
3m KIBOR 12.40%
6m KIBOR 12.46%
10 yrs PIB 12.48%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 121.57
Rs/UK 137.22
Rs/US 84.49
Rs/OR 218.02

Commodities
Oil $72.88/barrel
Oil Change in % 0.32%
Gold $1,108.00/ounce
Gold Change in % 0.05%

Inflation
CPI Gen. - YoY (Nov 09) 10.50%
CPI Gen. - FY10 (Jul -Nov 09) 10.30%
NFNE Core INFL - YoY (Nov 09) 10.60%
NFNE Core INFL - FY10 (Jul-Nov 09) 12.00%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Dec 12, 2009) 13.54bn
Trade Balance (Jul-Nov 09) $(5.48)bn
Curr. A/C (Jul-Nov- 09) $(1.36)bn
Remittances (Jul -Nov 09) $3.80bn
Foreign Investment (Jul -Nov-09) $1.09bn
All Sch. Banks Deposit Base (Dec 12, 2009) Rs4,262bn

NAVs and Returns
as of Dec 17, 2009
Funds Offer Redemption
POBOP 52.0818/- 51.5610/-
Daily Return 8.71%
POAIIF 53.4643/- 52.9297/-
Daily Return 7.88%
POAIF 55.59/- 54.20/-
Daily Return (67.22)%
POASF 56.67/- 55.25/-
Daily Return (59.36)%
POAF 10.5301/-
Daily Return 14.48%
*Daily Returns are calculated as per MUFAP guidelines

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

LSM posts 4.97pc growth in OctIndustrial output improves 0.67pc in 4MFY10
Large Scale Manufacturing (LSM), a key contributor to GDP (approx 12 per cent weight in GDP), has witnessed a growth of 4.97 per cent during October due to higher utilisation of food stuff, better production of automobile and significant production of deep freezers and refrigerators before Eid, according to data from the Federal Bureau of Statistics (FBS) more... (FD)

Current account deficit falls by 81 percent
The country's balance of payment position on Thursday presented significant improvement during first five months of the current fiscal year, as the deficit is continuously on the decline. Current account deficit posted a decline of 81 percent in the first five months of current fiscal year, mainly due to the higher home remittances and sharp decline in trade deficit more... (BR)

Reserves slip to $13.54bn
Foreign exchange reserves eased to $13.54 billion in the week that ended on Dec 12 from $13.57 billion the previous week, the central bank said more... (D)

Politics

Govt under pressure over NRO ministers
The SC verdict has heightened pressure on Gilani to remove the NRO-tainted ministers from his cabinet more... (D)

Sindh Assembly puts its weight behind Asif Zardari: 'Sindh has been the target... enough is enough'
Amid ear-splitting slogans of "Zardari Khappe" the PPP legislators backed by their coalition partners in Sindh Assembly on Thursday declared "enough is enough." Thursday marked one of the most dynamic and longest sittings of the provincial assembly, which was chaired by Speaker Nisar Ahmed Khuhro at Sindh Assembly Building more... (BR)

NRO verdict internal matter of Pak, says US
The US respects the decision and hopes that alll leaders will act in accordance with the Constitution: State Department more... (D)

Sector Briefing

Furnace oil supply to KESC: PSO wants Rs 1.4 billion monthly advance payment
Pakistan State Oil (PSO) has indicated its inability to provide furnace oil to Karachi Electric Supply Company (KESC) for power generation without advance payment of Rs 1.4 billion per month that would result in further loadshedding for the consumers more... (BR)

Withdrawal of dumping duty on PSF sought
The value-added textile sector has sought immediate withdrawal of anti-dumping duty on import of polyester staple fibre and restriction on more... (D)

SBP to launch electronic bond trading next year
State Bank of Pakistan Governor Syed Salim Raza on Thursday said the central bank intends to introduce an electronic bond trading platform early next year. "This will provide investors real-time information about market yields resulting in enhanced liquidity and better price discovery in the fixed-income market," he added 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.