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January 14 , 2010
Statistics
KSE-100 Index
Previous Index 9,778.36
Current Index 9,784.85
Change % 0.07%
YTD (CY10) 4.20%
YTD (FY10) 36.60%

International Indicators
  Close %age
BSE-30 17,509.80 0.50%
HANGSENG 21,748.60 (2.59)%
NIKKEI 255 10,735.03 (1.30)%
FTSE 5,473.48 (0.50)%
DJIA 10,680.77 0.50%
SSEC 3,172.66 (3.09)%
NASDAQ 2,307.90 1.12%

SCRA
Jan 11, 2010 (2.22)
January, 2010 7.22
YTD 277.22

Money Market Updates
6m T-bill (Jan 14, 2010) 12.05%
12m T-bill (Jan 14, 2010) 12.05%
3m KIBOR 12.26%
6m KIBOR 12.33%
10 yrs PIB 12.61%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 122.90
Rs/UK 137.20
Rs/US 84.91
Rs/OR 216.67

Commodities
Oil $79.95/barrel
Oil Change in % 0.38%
Gold $1,141.60/ounce
Gold Change in % 0.42%

Inflation
CPI Gen. - YoY (Dec 09) 10.50%
CPI Gen. - FY10 (Jul -Dec 09) 10.30%
NFNE Core INFL - YoY (Dec 09) 10.70%
NFNE Core INFL - FY10 (Jul-Dec 09) 11.80%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Jan 02, 2010) 15.03bn
Trade Balance (Jul-Dec 09) $(6.80)bn
Curr. A/C (Jul-Nov- 09) $(1.36)bn
Remittances (Jul -Dec 09) $4.53bn
Foreign Investment (Jul -Nov-09) $1.09bn
All Sch. Banks Deposit Base (Jan 09, 2010) Rs4,351bn

NAVs and Returns
as of Jan 13, 2010
Funds Offer Redemption
POBOP 47.9040/- 47.4250/-
Daily Return 9.76%
POAIIF 49.9424/- 49.4430/-
Daily Return 7.03%
POAIF 53.45/- 52.11/-
Daily Return 105.37%
POASF 57.92/- 56.47/-
Daily Return 64.75%
POAF 10.6314/-
Daily Return 6.38%
*Daily Returns are calculated as per MUFAP guidelines

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

SBP sells Rs60.21bn MTBs
The State Bank of Pakistan (SBP) on Wednesday accepted bids of Rs60,210 million, with realised value of Rs55,244.341 million, for sale of more... (D)

Pakistan yet to get $3.3 billion from US
Pakistan is yet to receive $3.3 billion in toto from the US, which the latter delayed repeatedly after making commitment, says an official. "We have to receive $1.5 billion from Kerry-Lugar package and $1.8 billion from logistic payments of Logistic Support Fund," said a Finance Ministry official dealing with foreign payments more... (BR)

US to provide $16.5 million to upgrade Tarbela power plant
US Special Representative for Afghanistan and Pakistan Ambassador Richard Holbrooke on Wednesday announced that US government will contribute $16.5 million (Rs 1.4 billion) to improve the operating capacity of Tarbela Dam hydroelectric plant. The grant funding will be provided to the Ministry of Water and Power (MoWP), and will be implemented through Water and Power Development Authority (Wapda) more... (BR)

Politics

Pakistan warns India against hegemonistic mindset
The NCA took serious note of recent Indian statements about conducting conventional military strikes under a nuclear umbrella more... (D)

Second report on NRO cases sent to SC
The NAB is required to apprise the Supreme Court weekly of cases reopened since the scrapping of the NRO more... (D)

Zardari's visit to strengthen democracy
Senior Provincial Minister, Raja Riaz Ahmed has said that the visit of President Asif Ali Zardari to Punjab will strengthen democracy and will give the same message of politics of accommodation as gave in Quetta and Karachi. Talking to media here on Wednesday, Raja Riaz Ahmed said that despite negative propaganda, Pakistan People's Party (PPP) wants to accommodate all political parties of the country more... (BR)

Sector Briefing

Cement prices up Rs15-20/bag
Cement prices have witnessed a soaring trend during the week as price for 50kg bag jumped by Rs15 to Rs20 per unit. Different companies located in the northern region of the country have increased the prices of their bag within the range of Rs15 per 50kg bag, and the new price per bag is hovering around Rs260-265 per bag more... (FD)

Power sector entities: PSO sends SOS call for Rs 66 billion dues
Pakistan State Oil (PSO) has sent an SOS (save our souls) call to the government for payment of around Rs 66 billion receivables from power sector entities, sources in Petroleum Ministry told Business Recorder. Officers in the Ministry of Water and Power confirmed to this correspondent that one of the major reasons of load shedding is non-payment to IPPs, which are operating on furnace oil or dual fuel (gas and furnace oil) more... (BR)

'NIT Income Fund' may be launched anytime soon
The National Investment Trust (NIT) is most likely to launch its new fund, namely 'NIT Income Fund', this month, it is learnt. The launching of NIT new product is just after only two months of launching of NIT Government Bond Fund (NIT-GBF), launched in November 2009 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.