BasedLine
LOGO
February 04, 2010
Statistics
KSE-100 Index
Previous Index 9,595.24
Current Index 9,627.63
Change % 0.34%
YTD (CY10) 2.56%
YTD (FY10) 34.42%

International Indicators
  Close %age
BSE-30 16,496.05 2.10%
HANGSENG 20,722.08 2.22%
NIKKEI 255 10,404.33 0.30%
FTSE 5,253.15 (0.60)%
DJIA 10,270.55 (0.26)%
SSEC 3,003.84 2.36%
NASDAQ 2,190.91 0.04%

SCRA
Jan 29, 2010 2.22
January, 2010 16.74
YTD 286.74

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 12.54%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 118.79
Rs/UK 136.03
Rs/US 85.04
Rs/OR 217.82

Commodities
Oil $77.08/barrel
Oil Change in % 0.13%
Gold $1,110.20/ounce
Gold Change in % (0.35)%

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 23, 2010) 15.10bn
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 30, 2010) Rs4,401bn

NAVs and Returns
as of Feb 03, 2010
Funds Offer Redemption
POBOP 47.5979/- 47.1219/-
Daily Return (54.19)%
POAIIF 50.1698/- 49.6681/-
Daily Return 5.82%
POAIF 52.65/- 51.33/-
Daily Return (14.22)%
POASF 56.89/- 55.47/-
Daily Return 85.74%
POAF 10.6667/-
Daily Return 11.57%
*Daily Returns are calculated as per MUFAP guidelines

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

IMF-FBR talks next week
Talks between International Monetary Fund (IMF) and Federal Board of Revenue (FBR) are scheduled to be started in the second week of February at Dubai. For the purpose, Chairman FBR, Sohail Ahmed along with Asrar Rauf, member direct taxes and others would start 10-day official tour from February 7, 2010 more... (BR)

SBP accepts Rs 10.11 billion bids for PIBs
The State Bank of Pakistan set a cut-off yield of 12.5389 percent on the benchmark 10-year Pakistan Investment Bond (PIBs) at an auction on Wednesday, up from 12.4406 percent. The central bank received bids worth of Rs 25.121 billion of realised amount, out of which SBP accepted some Rs 10.11 billion bids for 3-, 5-, 7-, 10-, 15-, 20-, and 30-year long-term bonds more... (BR)

Steps to increase revenue: 2010-11 budget blueprint to have four new measures
The Finance Ministry has prepared a blueprint for the federal budget 2010-11, according to which four new measures ie enhancement of excise tax on a number of services (eg banking and insurance etc); increase in withholding tax on imports; increase in excise tax on cigarettes; and introduction of capital value tax (CVT) on real estate will be taken to enhance revenue, official sources told Business Recorder more... (BR)

Politics

Kayani rejects allegations against intelligence agencies
Chief of Army Staff, General Ashfaq Parvez Kayani on Wednesday rejected the allegations of double game levelled against Pakistan intelligence agencies, Aaj News reported. Talking to senior journalists in Islamabad, he said that 2,273 officers and soldiers had embraced martyrdom during the ongoing war against terrorism more... (BR)

Kayani spells out threat posed by Indian doctrine
A reality will not change in any significant way until the Kashmir issue and water disputes are resolved, said Gen Kayani more... (D)

MQM to end Sindh assembly boycott
The decision was taken after intense negotiations involving MQM chief Altaf Hussain, President Zardari and PM Gilani more... (D)

Sector Briefing

PTCL profit increases to Rs 2.785 billion in second quarter
The profit after tax of Pakistan Telecommunication Company Limited (PTCL) has increased to Rs 2.785 billion in the quarter ended December 31, 2009 as compared to Rs 2.136 billion earned in the corresponding period in 2008. The board of directors of the company in its meeting held on Wednesday declared that the company's earning per share has increased to Rs 0.55 in the period under review against Re. 0.42 in the same period a year back more... (BR)

Pharmaceutical manufacturers: ministry to introduce cost-based price policy
The Ministry of Health (MoH) has decided to introduce cost-based price policy for pharmaceutical manufacturers and has started to formulate the production cost of 60,000 drugs to complete the task. According to sources, the delegation of Pakistan Pharmaceutical Manufacturers Association (PPMA) held meeting with Federal Minister for Health to finalise price policy for the drug manufacturers more... (BR)

Registration of vehicles goes up by 19pc
Commercial vehicles’ registration jumped by 85pc to a record high whereas registration of private cars rose by 8pc more... (D)

(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

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.