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March 03 , 2010
Statistics
KSE-100 Index
Previous Index 9,498.57
Current Index 9,546.39
Change % 0.50%
YTD (CY10) 1.70%
YTD (FY10) 33.29%

International Indicators
  Close %age
BSE-30 16,772.56 2.10%
HANGSENG 20,906.11 (0.72)%
NIKKEI 255 10,221.84 0.50%
FTSE 5,484.06 1.45%
DJIA 10,405.98 0.02%
SSEC 3,073.11 (0.48)%
NASDAQ 2,280.79 0.32%

SCRA
Mar 01 , 2010 3.66
February, 2010 7.32
YTD 297.72

Money Market Updates
6m T-bill 24-Feb-10 11.90%
12m T-bill 24-Feb-10 11.98%
3m KIBOR 12.35%
6m KIBOR 12.42%
10 yrs PIB 12.70%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.09
Rs/UK 126.95
Rs/US 85.17
Rs/OR 218.17

Commodities
Oil $79.78/barrel
Oil Change in % 0.13%
Gold $1,135.60/ounce
Gold Change in % (0.16)%

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 20, 2010) 14.37bn
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 Mar 02, 2010
Funds Offer Redemption
POBOP 46.5366/- 46.0712/-
Daily Return (2.58)%
POAIIF 50.4154/- 49.9112/-
Daily Return 7.35%
POAIF 52.29/- 50.98/-
Daily Return 14.32%
POASF 56.77/- 55.35/-
Daily Return 19.79%
POAF 10.7278/-
Daily Return 11.50%
*Daily Returns are calculated as per MUFAP guidelines

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

Federal Budget likely on May 15
The government is likely to announce federal budget (2010-2011) on May 15, 2010, sources told Business Recorder on Monday. According to reliable sources, the Senate Standing Committee on Finance and Revenue had recommended last year while presenting (2009-2010 Budget) that next annual budgets should be tabled by the end of May every year more... (BR)

23 SOEs sell-off in the fast lane
58 entities okayed by CCI for privatisation
Shahab Khawaja Federal Secretary Ministry of Privatisation has said that Privatisation Programme includes 58 State Owned Entities duly approved by Council of Common Interests (CCI), adding, among these 23 entities are being dealt on fast track basis more... (FD)

THE RUPEE: modest fall
The rates moved both ways on currency market on Tuesday in process of trading, exports said. On the interbank market, the rupee extended its fall, losing four paisa against dollar for buying at 85.08 and shed eight paisa for selling at 85.12, dealers said more... (BR)

Politics

'Judicial Commission' to appoint judges: amendments to Constitution proposed
Chairman Parliamentary Committee on Constitutional Reforms, Senator Mian Raza Rabbani has said that judges in superior judiciary would be appointed by a judicial commission to be called Pakistan Judicial Commission and headed by Chief Justice of Pakistan (CJP) more... (BR)

Pakistan and India to attend US nuclear summit
India and Pakistan plan to attend an international summit on nuclear security to be hosted by US President Barack Obama next month, officials said on Tuesday. Indian Prime Minister Manmohan Singh is expected to make the trip to Washington for the April 12-13 summit, his office said. Foreign ministry spokesman Abdul Basit told AFP more... (BR)

Advisor to Prime Minister instead of new finance minister likely
The government may appoint advisor to Prime Minister on Finance instead of a full-fledged finance minister as the portfolio is expected to be kept by Prime Minister Yousuf Raza Gilani himself, sources said. They said the government has been weighing this option, which may have been one of the reasons for the delay in the appointment of new finance minister more... (BR)

Sector Briefing

Compressors for Qadirpur gas field: TIP terms deal violation of rules
Transparency International Pakistan (TIP) has termed the procurement of compressors by the Oil and Gas Development Company Limited (OGDC) for Qadirpur gas field an act of blatant violation of Public Procurement Rules more... (BR)

July-December refinery sector losses down to Rs 2.7 billion
The losses of listed refinery sector reduced significantly to Rs 2.7 billion in the first half of the current fiscal year (FY10) as compared to massive losses of Rs 13.4 billion recorded in the corresponding period of FY09. "Unlike last year, where inventory and huge exchange losses took a heavy toll on earnings, losses in the first half of FY10 mainly arrived due to negative refinery margins on fuel business", analysts said more... (BR)

NSBs trading started at newly introduced KSE debt market
Trading in National Saving Bonds (NSBs) at the newly introduced debt market started at the Karachi Stock Exchange (KSE) on Tuesday. The trading session at the exchange started with the ringing of traditional opening bell. Director-General, Central Directorate of National Savings, Zafar M Shaikh, rang the bell. All transactions taking place in respect of the said bonds on the exchange's Bonds Automated Trading System (BATS) will be settled on T+1 settlement basis 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.