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February 18, 2010
Statistics
KSE-100 Index
Previous Index 9,769.68
Current Index 9,867.09
Change % 1.00%
YTD (CY10) 5.12%
YTD (FY10) 37.77%

International Indicators
  Close %age
BSE-30 16,428.91 1.25%
HANGSENG 20,534.01 1.31%
NIKKEI 255 10,306.83 2.70%
FTSE 5,276.64 0.60%
DJIA 10,309.24 0.39%
SSEC 2,985.50 (1.08)%
NASDAQ 2,226.51 0.55%

SCRA
Feb 16 , 2010 3.48
February, 2010 3.16
YTD 289.90

Money Market Updates
6m T-bill 10-Feb-10 12.02%
12m T-bill 10-Feb-10 12.05%
3m KIBOR 12.27%
6m KIBOR 12.34%
10 yrs PIB 12.54%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 117.14
Rs/UK 134.18
Rs/US 85.08
Rs/OR 218.46

Commodities
Oil $76.89/barrel
Oil Change in % (0.57)%
Gold $1,104.20/ounce
Gold Change in % (1.42)%

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 -Jan-10) $1.47bn
All Sch. Banks Deposit Base (Feb 06, 2010) Rs4,372bn

NAVs and Returns
as of Feb 17, 2010
Funds Offer Redemption
POBOP 46.4503/- 45.9858/-
Daily Return (78.49)%
POAIIF 50.2875/- 49.7846/-
Daily Return 7.29%
POAIF 52.43/- 51.12/-
Daily Return 28.58%
POASF 56.89/- 55.47/-
Daily Return 72.53%
POAF 10.6925/-
Daily Return 11.93%
*Daily Returns are calculated as per MUFAP guidelines

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

Economy lifts, energy problems weigh: IMF
The Inter-national Monetary Fund (IMF) has observed that the widening of military operations, revenue shortfalls and delays in disbursements of pledged donor support have complicated fiscal management and inflation has picked up more... (BR)

Current account deficit narrows by 69 percent
The country's current account deficit has narrowed down by some 69 percent in first seven months of current fiscal year mainly due to huge remittances and considerable decline in the trade deficit. The State Bank of Pakistan on Thursday said the country's current account deficit has declined by $5.569 billion during the July-January of fiscal year 2009-10, as compared to same period of last fiscal year more... (BR)

Govt aims at 7pc inflation for FY11
As government is unlikely to meet inflation target of 9 per cent for the Financial Year 2010, it has set yet another ambitious target for the next fiscal year. According to sources, the Ministry of Finance has set an inflation target of 7 per cent for the Financial Year 2010-11 more... (FD)

Politics

Government Concedes February 13 notifications superseded
The government announced on Wednesday the supersession of its February 13 notifications following a three-hour meeting between Prime Minister Syed Yousaf Raza Gilani and Chief Justice of Supreme Court Iftikhar Muhammad Chaudhary at the Prime Minister's House earlier in the day more... (BR)

“Corruption in Pakistan can invite another coup”
“The govt’s inability to deliver basic services could provide an ambitious military leadership the opportunity to intervene.” more... (D)

US wants Pak-India talks to end tensions
Under-Secretary of Defence Michele Flournoy said US was helping the two countries to make the dialogue successful more... (D)

Sector Briefing

PSO earns Rs5.08bn profit in first half
Pakistan State Oil (PSO) posted after-tax profit of Rs5.08 billion during the July-December 2009-10 as compared to Rs10 billion loss in the more... (D)

SSGCL seeks increase in gas price: consumers to face another blow
The consumers will be facing another blow in the face of gas tariff increase as Sui Southern Gas Company Limited (SSGCL) has sought an upward revision in gas price by Rs 60.75 per MMBTU from July 1, 2010 on back of currency devaluation and rise in global oil prices. According to the mechanism, gas utilities seek revision in gas prices twice a year more... (BR)

KESC sponsors subscribe Rs6.3bn to right issue
The utility is depending upon fresh equity to improve its debt and liquidity ratios, reduce financing cost and enhance profits 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
  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.