February 19, 2010
KSE-100 Index
Previous Index 9,867.09
Current Index 9,889.30
Change % 0.23%
YTD (CY10) 5.35%
YTD (FY10) 38.08%

International Indicators
  Close %age
BSE-30 16,327.84 (0.62)%
HANGSENG 20,422.15 (0.50)%
NIKKEI 255 10,335.69 0.30%
FTSE 5,325.09 0.90%
DJIA 10,392.90 0.81%
SSEC 2,985.50 (1.08)%
NASDAQ 2,241.71 0.69%

Feb 17 , 2010 0.12
February, 2010 3.28
YTD 290.01

Money Market Updates
6m T-bill 10-Feb-10 12.02%
12m T-bill 10-Feb-10 12.05%
3m KIBOR 12.30%
6m KIBOR 12.35%
10 yrs PIB 12.54%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.54
Rs/UK 133.25
Rs/US 85.04
Rs/OR 218.68

Oil $78.09/barrel
Oil Change in % (1.23)%
Gold $1,106.40/ounce
Gold Change in % (1.10)%

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 13, 2010) 14.32bn
Trade Balance (Jul-Jan 10) $(8.44)bn
Curr. A/C (Jul-Jan-10) $(2.49)bn
Remittances (Jul -Jan 10) $5.20bn
Foreign Investment (Jul -Jan-10) $1.47bn
All Sch. Banks Deposit Base (Feb 13, 2010) Rs4,371bn

NAVs and Returns
as of Feb 18, 2010
Funds Offer Redemption
POBOP 46.4601/- 45.9955/-
Daily Return 8.00%
POAIIF 50.2973/- 49.7943/-
Daily Return 7.37%
POAIF 52.46/- 51.15/-
Daily Return 21.42%
POASF 56.96/- 55.54/-
Daily Return 46.06%
POAF 10.6955/-
Daily Return 10.78%
*Daily Returns are calculated as per MUFAP guidelines

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

Kerry-Lugar Bill: Holbrooke promises to fast track release of funds
Prime Minister Yusuf Raza Gilani on Thursday underlined the expeditious initiation of the Pakistan-United States strategic dialogue for building trust to remove the misperceptions and misgivings between Pakistan and the US. Talking to Ambassador Holbrooke, Special US Representative for Pakistan and Afghanistan who along with a delegation called on him at the Prime Minister House more... (BR)

Reserves ease to $14.32bn
Pakistan’s foreign exchange reserves eased to $14.32 billion in the week ending on Feb 13 from $14.48 billion the previous week, the central more... (D)

Current account deficit falls to $2.4bn in 7 months
The C/A deficit is around 31pc of seven months’ deficit of last year due to lower imports and higher remittances more... (D)



Selection of next army chief: Wynne, Yousaf top contenders while Taj a dark horse
Pakistan army Chief General Ashfaq Pervez Kayani is due to retire on November 28, 2010 after completion of his tenure. Military is the dominant institution of the country and an army chief is the most powerful person in country's decision making process more... (BR)

Obama briefed on Pakistan-Afghan situation
US and Pakistani officials are looking at the possibility of using Mullah Baradar to expedite the reintegration process more... (D)

Pakistan fears India could divert nuclear fuel
Pakistan said on Thursday it feared India could make 100 nuclear warheads a year by diverting fissile material transferred from the United States and other powers. Zamir Akram, Pakistan's ambassador to the United Nations in Geneva, said civilian nuclear agreements were providing its rival, whose arsenals are larger, with "the transfer of unlimited amounts of fissile material" more... (BR)

Sector Briefing

NPLs surge by Rs 121 billion during 2009
Non Performing Loans (NPLs) of banks and DFIs have registered a surge of some Rs 121 billion to historical level of Rs 446 billion during the calendar year 2009 because of higher interest rate, economic slowdown, high cost of production and power breakout more... (BR)

Ethanol-blended HSD marketing: ministry directed to constitute committee
The Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar has directed the ministry to constitute a committee led by secretary Petroleum to work out the possibility of ethanol-blended High Speed Diesel (HSD) marketing. Earlier, PSO has started marketing of ethanol blended gasoline and now government wants to introduce ethanol blended HSD in the market more... (BR)

ICI profit after tax increases
The profit after tax of ICI Pakistan has increased by 21.4 percent to Rs 2,054.3 million in the year ended December 31, 2009. The company's earning per share has increased by 9.8 percent to stand at Rs 14.73 in the period under review. The board of directors of the company announced a final dividend of Rs 4.50 per share for 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


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.