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March 01 , 2010
Statistics
KSE-100 Index
Previous Index 9,667.17
Current Index 9,657.79
Change % (0.10)%
YTD (CY10) 2.89%
YTD (FY10) 34.84%

International Indicators
  Close %age
BSE-30 16,429.55 1.08%
HANGSENG 20,608.70 1.03%
NIKKEI 255 10,126.03 0.24%
FTSE 5,354.50 1.45%
DJIA 10,325.26 0.04%
SSEC 3,051.94 (0.28)%
NASDAQ 2,238.26 0.18%

SCRA
Feb 25 , 2010 (2.35)
February, 2010 10.80
YTD 297.54

Money Market Updates
6m T-bill 24-Feb-10 11.90%
12m T-bill 24-Feb-10 11.98%
3m KIBOR 12.36%
6m KIBOR 12.43%
10 yrs PIB 12.70%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.56
Rs/UK 129.92
Rs/US 85.16
Rs/OR 220.50

Commodities
Oil $80.21/barrel
Oil Change in % 0.69%
Gold $1,118.60/ounce
Gold Change in % (0.03)%

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 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 20, 2010) Rs4,360bn

NAVs and Returns
as of Feb 26, 2010
Funds Offer Redemption
POBOP 46.5104/- 46.0453/-
Daily Return 8.08%
POAIIF 50.3762/- 49.8724/-
Daily Return 7.36%
POAIF 52.39/- 51.08/-
Daily Return (28.56)%
POASF 56.88/- 55.46/-
Daily Return 11.52%
POAF 10.7148/-
Daily Return 11.92%
*Daily Returns are calculated as per MUFAP guidelines

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

Domestic debt booms to Rs4.3tn
The country's domestic debt swelled up by Rs440 billion to a staggering Rs4.3 trillion during 7MFY10, according to numbers released by State Bank of Pakistan (SBP) more... (FD)

Small and medium enterprises: some foreign groups want to provide $250m credit line: Tarin
Finance Minister Shaukat Tarin said Sunday that the government has allocated large funds for the development of small and medium enterprises (SMEs) while some foreign groups are also keen to provide a credit line of $250 million to SMEs more... (BR)

Nominal cut in POL products prices
The government on Sunday announced cut in oil prices ranging from Re0.64 to Rs2.56 per litre to provide relief to consumers. The new prices would be effective from Monday (today). According to an Oil and Gas Regulatory Authority (Ogra) notification, the price of motor spirit has been reduced by Re0.64 per litre, light diesel oil by Rs1.60, HOBC by Re0.78 and kerosene oil by Rs2.56 per litre more... (BR)

Politics

No nuclear deal with Pakistan, says US
There is no way they can get a civilian nuclear deal similar to the one the Obama admin has signed with India: US official more... (D)

President Zardari meets David Miliband
The president called for early resolution of the visa problems being faced by Pakistanis, particularly students more... (D)

Delhi sees Riyadh as a mediatorPakistan-India disputes
Congress, BJP snub Tharoor, say no to 3rd party role
Keeping Saudi Arabia's close relationship with Pakistan in view, India is hoping to convince Riyadh to play the role of a mediator to improve ties between the two South Asian nuclear powers more... (FD)

Sector Briefing

Move to resolve circular debt: MoF to adjust all governments' power bills
To resolve the issue of circular debt on permanent basis, it has been decided that the outstanding electricity bills of all government institutions, including provincial governments, would be adjusted from their accounts more... (BR)

7M NSS investment at record Rs133.78bn
Net investment in National Savings Schemes (NSS) surged by 78.4 per cent to a record Rs133.78 billion in the first seven months of the fiscal year 2009-10 against Rs74.98 billion attracted in same period last fiscal more... (FD)

NIB Bank earns Rs 1.5 billion profit after tax
NIB Bank has earned a consolidated profit after tax of Rs 1.5 billion and a standalone profit after tax of Rs 691 million for the year ended December 31, 2009. Net mark-up income in 2009 increased by 23 percent over 2008 to Rs 5.4 billion as a result of better quality loan growth and improvement in spreads 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.