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February 15, 2010
Statistics
KSE-100 Index
Previous Index 9,802.80
Current Index 9,805.87
Change % 0.03%
YTD (CY10) 4.46%
YTD (FY10) 36.91%

International Indicators
  Close %age
BSE-30 16,152.59 0.00%
HANGSENG 20,268.69 (0.11)%
NIKKEI 255 10,092.19 1.29%
FTSE 5,142.50 (0.37)%
DJIA 10,099.14 (0.44)%
SSEC 3,018.13 1.09%
NASDAQ 2,183.53 0.28%

SCRA
Feb 12 , 2010 1.94
February, 2010 (0.44)
YTD 286.30

Money Market Updates
6m T-bill 10-Feb-10 12.02%
12m T-bill 10-Feb-10 12.05%
3m KIBOR 12.25%
6m KIBOR 12.29%
10 yrs PIB 12.54%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.66
Rs/UK 133.33
Rs/US 84.99
Rs/OR 219.57

Commodities
Oil $74.12/barrel
Oil Change in % (0.01)%
Gold $1,093.30/ounce
Gold Change in % 0.30%

Inflation
CPI Gen. - YoY (Jan 10) 13.70%
CPI Gen. - FY10 (Jul -09-Jan 10) 10.80%
NFNE Core INFL - YoY (Jan-10) 10.30%
NFNE Core INFL - FY10 (Jul-09-Jan-10) 11.60%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Feb 06, 2010) 14.48bn
Trade Balance (Jul-Jan 10) $(8.44)bn
Curr. A/C (Jul-Dec- 09) $(1.76)bn
Remittances (Jul -Jan 10) $5.20bn
Foreign Investment (Jul -Dec-09) $1.28bn
All Sch. Banks Deposit Base (Feb 06, 2010) Rs4,372bn

NAVs and Returns
as of Feb 13, 2010
Funds Offer Redemption
POBOP 46.6169/- 46.1507/-
Daily Return n/a%
POAIIF 50.2488/- 49.7463/-
Daily Return 7.30%
POAIF 52.43/- 51.12/-
Daily Return 0.00%
POASF 57.01/- 55.58/-
Daily Return 6.57%
POAF 10.6795/-
Daily Return 11.56%
*Daily Returns are calculated as per MUFAP guidelines

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

$1.2 billion fifth SBA tranche: talks with IMF start in Dubai today
The country's top financial officials would meet their counterparts in International Monetary Fund (IMF) on Monday in Dubai for policy level dialogue for fifth $1.2 billion tranche of the Fund's Standby Arrangement (SBA). According to sources, IMF and Pakistan's officials would discuss the country's economic performance and targets set for the next six months, besides handing over of fifth instalment more... (BR)

SPI inflation surges to 17.4 percent
The surge in SPI inflation was phenomenal during last two months as it went up from 10.62 percent on December 10 to 17.40 percent on February 11, according to Federal Bureau of Statistics (FBS). Official figures on SPI, released by the FBS here on Saturday, showed prices of 23 essential commodities having increased during the week, including vegetable fruits, flours and others more... (BR)

Foreigners park $3.62mn in KSEMutual funds eject $8.77mn in last week
Offshore investors came out as net buyers at Karachi Stock Exchange during the week that ended on Friday with a net buying of $3.62 million, as per the National Clearing Company of Pakistan Limited (NCCPL) data more... (FD)

Politics

Zardari biggest threat to democracy, says Nawaz
In a scathing attack on President Asif Ali Zardari, Pakistan Muslim League-Nawaz (PML-N) Chief Nawaz Sharif on Sunday declared him (Zardari) as the "biggest threat to democracy", saying that his party will not allow the government to go scot-free more... (BR)

SC suspends presidential orders over judges' appointment
SC has issued a detailed verdict against the government notification, which is in violation of the constitution more... (D)

Zardari to chair PPP meeting today
The party members in a meeting will chalk out a line of action to cope with the new judicial crisis more... (D)

Sector Briefing

Cheap gas for Pak-American Fertiliser Limited: industries ministry fails to get Tarin's nod
The Ministry of Industries and Production has failed to get the nod of Finance Minister Shaukat Tarin on a proposal intended to benefit Pak-American Fertilizer Limited (PAFL) by charging less feed gas tariff as no other ministry, except Minfa, came forward to support it, official sources told Business Recorder more...

Oil, gas output little up in 7M
Oil and gas production moved up slightly by 1 per cent to 762.23 thousand barrels of oil equivalent per day (kboepd) during the first seven months of the current financial year as compared to 756.4kboepd during the same period a year ago more... (FD)

Decommissioning seven gas-based units: Nepra asks KESC to justify proposal
The National Electric Power Regulatory Authority (Nepra) has asked Karachi Electric Supply Company (KESC) to justify its demand for decommissioning of the company's seven gas-based electricity generating units of 175 megawatts for what KESC claims lack of gas 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.