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January 28, 2010
Statistics
KSE-100 Index
Previous Index 9,666.48
Current Index 9,603.55
Change % (0.65)%
YTD (CY10) 2.30%
YTD (FY10) 34.10%

International Indicators
  Close %age
BSE-30 16,289.82 (2.92)%
HANGSENG 20,033.07 (0.38)%
NIKKEI 255 10,252.08 (0.70)%
FTSE 5,217.47 (1.10)%
DJIA 10,236.16 0.41%
SSEC 2,986.61 (1.09)%
NASDAQ 2,221.41 0.80%

SCRA
Jan 26, 2010 0.24
January, 2010 16.76
YTD 286.76

Money Market Updates
6m T-bill 27-Jan-10 11.897%
12m T-bill 27-Jan-10 12.015%
3m KIBOR 12.21%
6m KIBOR 12.26%
10 yrs PIB 12.61%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 119.15
Rs/UK 136.53
Rs/US 84.71
Rs/OR 215.89

Commodities
Oil $73.95/barrel
Oil Change in % 0.38%
Gold $1,091.50/ounce
Gold Change in % 0.53%

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 16, 2010) 15.24bn
Trade Balance (Jul-Dec 09) $(6.80)bn
Curr. A/C (Jul-Dec- 09) $(1.76)bn
Remittances (Jul -Dec 09) $4.53bn
Foreign Investment (Jul -Dec-09) $1.28bn
All Sch. Banks Deposit Base (Jan 23, 2010) Rs4,363bn

NAVs and Returns
as of Jan 27, 2010
Funds Offer Redemption
POBOP 47.6177/- 47.1415/-
Daily Return 9.82%
POAIIF 50.0807/- 49.5799/-
Daily Return 5.37%
POAIF 52.86/- 51.54/-
Daily Return (162.16)%
POASF 56.93/- 55.51/-
Daily Return (299.98)%
POAF 10.6484/-
Daily Return 11.59%
*Daily Returns are calculated as per MUFAP guidelines

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

Auction results hint at rate cut: six-month treasury bills yield down 16 basis points
Some 4-16 basis points (bps) cut was witnessed in the cut-off yield of Market Treasury Bills (MTBs), auctioned here on Wednesday. "This is the third consecutive auction, in which yield has declined and during these auctions some 30-40 percent reduction has been registered in the cut-off yield of MTBs. This is a hint for the monetary easing in the upcoming Monetary Policy," an analyst said more... (BR)

National Savings Bonds attract Rs3.6 billion
Given the lacklustre market conditions and the liquidity crunch, the public response to the bonds was said to be ‘great more... (D)

Eight ministries/divisions got only 9.5 percent of PSDP allocation
Financial constraints due to poor external inflow by Friends of Democratic Pakistan (FoDP) and military operation in Waziristan forced the Finance Ministry to release only 9.5 percent funds amounting to Rs 2.233 billion out of entire year allocation to eight federal ministries/divisions including defence during the first half (July-December) of current financial year under Public Sector Development Programme (PSDP) 2009-10 more... (BR)

Politics

Govt has moved on SC ruling: PM
Gilani, however, said the govt cannot reopen the cases against Zardari, due to the immunity granted to him by the Constitution more... (D)

NAB directed to take up Swiss cases
Prime Minister Syed Yousuf Raza Gilani has directed the National Accountability Bureau (NAB) to take up the Swiss cases. He issued the directives during his address to the National Assembly here Wednesday more... (FD)

Indian role in Afghanistan needs to be spelt out: US
The US urged India to be transparent with Pakistan about their activities in Afghanistan to remove mistrust more... (D)

Sector Briefing

Etisalat to pay $800 million by March: minister
Pakistan will receive a payment of $800 million by the end of March from the UAE's Etisalat for a stake in Pakistan Telecommunication Co (PTCL), Minister of Privatisation Waqar Ahmed Khan said on Wednesday. In 2006, Etisalat, the Gulf Arab region's second-largest telecom firm, signed an agreement to purchase a 26 percent stake in PTCL for $2.6 billion, but so far only $1.4 billion has been paid, due to problems linked with a transfer of 3,000 real estate units more... (BR)

40 mmscfd gas supply started from Manzalai-IV
Supply of additional 40 mmscfd natural gas has been started from Manzalai-IV of Tal Block to national transmission system to the recently inaugurated Central Processing Facility (CPF) despite odds hindering site operations in line with recent proposal addressed to the Ministry of Petroleum and Mineral Resources more... (BR)

Eight RPPs get the nod from Cabinet, ADB: 11-point report presented
The Cabinet meeting chaired by Prime Minister Syed Yousuf Raza Gilani on Wednesday approved eight rental power plants on the recommendations of the Asian Development Bank including Naudero-II besides six other projects on the advanced stage of implementation. Sources said other six are those RPPs for which mobilisation advance was paid 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
Rafey Ahmed 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.