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December 21, 2009
Statistics
KSE-100 Index
Previous Index 9,227.18
Current Index 9,183.73
Change % (0.47)%
YTD (CY09) 56.60%
YTD (FY10) 28.20%

International Indicators
  Close %age
BSE-30 16,719.83 (1.03)%
HANGSENG 21,175.88 (0.80)%
NIKKEI 255 10,142.05 (0.20)%
FTSE 5,196.81 (0.40)%
DJIA 10,328.89 0.20%
SSEC 3,113.89 (2.05)%
NASDAQ 2,211.69 1.45%

SCRA
Dec 17 , 2009 0.06
December, 2009 (49.97)
YTD 264.98

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 120.83
Rs/UK 136.18
Rs/US 84.34
Rs/OR 218.41

Commodities
Oil $73.43/barrel
Oil Change in % 0.10%
Gold $1,116.00/ounce
Gold Change in % 0.40%

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 19, 2009
Funds Offer Redemption
POBOP 52.1058/- 51.5847/-
Daily Return 8.79%
POAIIF 53.5138/- 52.9787/-
Daily Return 28.34%
POAIF 54.69/- 53.32/-
Daily Return 0.00%
POASF 56.19/- 54.79/-
Daily Return 0.00%
POAF 10.5159/-
Daily Return (38.89)%
*Daily Returns are calculated as per MUFAP guidelines

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

US defence bill sets aside $1.7bn for Pakistan
The US defence budget, approved by Congress on Saturday, includes hundreds of millions of dollars for Pakistan more... (D)

SPI shows increase of 12.01 percent
The weekly inflation measured through Sensitive Price Indicator (SPI) showed an increase of 12.01 percent during the week ended December 17 over the corresponding period of last year, according to Federal Bureau of Statistics (FBS). Official figures on SPI inflation released on Saturday showed that SPI for the lowest income group up to Rs 3000 was 13.59 percent, followed by 12.88 percent for Rs 3001-Rs 5000 income group more... (BR)

Local investors eject $14.75mn from KSEForeigners withdraw $0.4mn last week
Local investors offloaded their holdings at the Karachi stock market during the week that ended on Friday as they sold shares worth $273.11 million and bought shares valuing $258.36 million, resulting in net offloading of $14.75 million, according to data released by National Clearing Company of Pakistan Limited (NCCPL) more... (FD)

Politics

'NAB tried to use ECP to proceed against Zardari'
The Former Secretary of the Election Commission of Pakistan said that the National Accountability Bureau tried to use ECP to proceed against Benazir Bhutto and Asif Zardari in 2005 more... (D)

India not honouring Egypt pact: Pakistan HC
Shahid Malik, Pakistan High Commissioner to India, said on Sunday that India was not fulfilling its commitment made in the Sharm El Sheikh joint statement for resumption of talks between Islamabad and New Delhi. The 'diplomatic vacuum' would not help the cause of peace and by not talking to each other, 'we are strengthening the forces which don't want the two countries to make any progress', he said in an interview with Karan Thapar in Devil's Advocate programme on news channel CNN-IBN more... (FD)

MQM leaders' names taken off ECL
Following deletion of the name of Defence Minister Ahmed Mukhtar from the Exit Control List (ECL), the Interior Ministry has made another advance move, saying that the names of central leaders of Muttahida Qaumi Movement (MQM) including Dr Farooq Sattar and Babar Ghauri were not on the ECL nor are they on the List now more... (BR)

Sector Briefing

Qadirpur gasfield: installation of compressors may cost OGDCL $38 million more
The Oil and Gas Development Company Limited (OGDCL), which has been forced to install compressors as an interim arrangement due to the litigation with the Chinese company for the compression project at Qadirpur gasfield, is expected to cost an additional 38 million dollars, well placed sources told Business recorder on Saturday more... (BR)

Ministry fails to finalise refineries' pricing formula
The Ministry of Petroleum and Natural Resources failed to finalise a revised ex-refinery price formula due to lack of consensus among the stakeholders, including oil refineries, sources told Business Recorder more... (BR)

Opec to keep oil supply steady, price holds firm
Opec will almost certainly leave output targets unchanged when it meets this week in Luanda, ministers said on Sunday, as robust oil prices offset any concerns in the group about excess supplies 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.