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January 04 , 2010
Statistics
KSE-100 Index
Previous Index 9,507.95
Current Index 9,386.92
Change % (1.27)%
YTD (CY09) 60.00%
YTD (FY10) 31.10%

International Indicators
  Close %age
BSE-30 17,464.81 0.70%
HANGSENG 21,872.50 1.75%
NIKKEI 255 10,546.44 (0.86)%
FTSE 5,412.88 0.30%
DJIA 10,428.05 (1.14)%
SSEC 3,262.60 (0.44)%
NASDAQ 2,269.15 (0.97)%

SCRA
Dec 31 , 2009 (1.04)
December, 2009 (44.96)
YTD 270.00

Money Market Updates
6m T-bill (Dec 30, 2009) 12.10%
12m T-bill (Dec 30, 2009) 12.09%
3m KIBOR 12.33%
6m KIBOR 12.41%
10 yrs PIB 12.61%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 120.70
Rs/UK 136.24
Rs/US 84.39
Rs/OR 218.94

Commodities
Oil $80.12/barrel
Oil Change in % 0.96%
Gold $1,103.50/ounce
Gold Change in % 0.67%

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 26, 2009) 13.96bn
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 26, 2009) Rs4,325bn

NAVs and Returns
as of Jan 02, 2010
Funds Offer Redemption
POBOP 49.1131/- 48.6220/-
Daily Return 9.43%
POAIIF 50.7788/- 50.2710/-
Daily Return 7.73%
POAIF 53.18/- 51.85/-
Daily Return 0.00%
POASF 56.86/- 55.44/-
Daily Return 3.29%
POAF 10.6438/-
Daily Return 14.71%
*Daily Returns are calculated as per MUFAP guidelines

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

Economic outlook and prospects: what's in store in 2010?
Pakistan's economy witnessed yet another turbulent year. The impact of external factor was highly expected, but our difficulties were profound nevertheless. Despite a reported 9 percent decline in outward remittances from the AGCC countries in 2009, overall remittances were the major contributor to the economy more... (BR)

FX reserves surge 50.4pcYear 2009
Rupee depreciated by 6.5pc
Total foreign exchange reserves of the country surged significantly by 50.4 per cent to $13.97 billion during last year from $9.4 billion at the end of 2008 more... (FD)

Bank deposits up 14pc in 2009
Total deposits of banks in the calendar year 2009 (January to December) increased by 14 per cent to Rs4.32 trillion as compared to Rs3.80 trillion at the end of last year whereas net advances grew by a paltry 3 per cent to Rs3.00 trillion from Rs2.92 trillion last year, according to the combined balance sheet of all scheduled banks released by SBP more... (FD)

Politics

Weapons supply to Pakistan: India takes up issue with China: Krishna
Indian External Affairs Minister S M Krishna said on Sunday that India had taken up with China the issue of its involvement in development projects in Pakistan's part of Kashmir and also supply of weapons to Islamabad. He said that India was "committed to close and friendly relations with our neighbours" as it was convinced "that our destinies are interlinked" more... (BR)

Gilani and Nawaz discuss proposed accountability bill
Prime Minister Syed Yusuf Raza Gilani and PML-N Chief Mian Muhammad Nawaz Sharif during a telephonic conversation on Sunday evening discussed the matters of national importance, specially the proposed accountability bill more... (BR)

Delhi on alert after Pakistanis escape from police custody
Indian national capital New Delhi was placed on alert as the police launched a manhunt for three Pakistani militants who escaped from police custody recently, officials said Sunday. Abdul Razzak, Mohammed Sadiq and Rafaqat Ali escaped from a hospital in central Delhi Friday, police disclosed Saturday night more... (BR)

Sector Briefing

OGDC blamed for oil, gas output decline
The oil production of the OGDCL has declined from about 54,000 barrels per day to about 37,500 BPD in 18 months more... (D)

Refineries refuse to pay petroleum levy to government
The oil refineries have declined to pay Petroleum Levy (PL) on petroleum products to the government on account of failure of Pakistan State Oil (PSO) to clear their dues, making them unable to retire Letters of Credit (L/Cs) to import crude oil more... (BR)

Gas shortage delays IPPs operation: Pervaiz Ashraf visits National Power Control Centre
The independent power projects (IPPs) are ready for power generation, however, non-availability of gas for their testing has delayed the output operation, Federal Minister for Water and Power Raja Pervaiz Ashraf said on Sunday 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.