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March 08 , 2010
Statistics
KSE-100 Index
Previous Index 9,511.53
Current Index 9,626.29
Change % 1.21%
YTD (CY10) 2.55%
YTD (FY10) 34.40%

International Indicators
  Close %age
BSE-30 16,994.49 0.13%
HANGSENG 20,787.97 1.03%
NIKKEI 255 10,368.96 2.20%
FTSE 5,599.80 1.31%
DJIA 10,566.20 1.17%
SSEC 3,031.06 0.25%
NASDAQ 2,326.35 1.48%

SCRA
Mar 05 , 2010 15.44
March, 2010 29.10
YTD 323.16

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 12.41%
10 yrs PIB 12.70%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 115.46
Rs/UK 128.26
Rs/US 84.73
Rs/OR 215.54

Commodities
Oil $81.99/barrel
Oil Change in % 0.60%
Gold $1,135.40/ounce
Gold Change in % 0.02%

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 27, 2010) 14.80bn
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 27, 2010) Rs4,396bn

NAVs and Returns
as of Mar 06, 2010
Funds Offer Redemption
POBOP 47.2964/- 46.8234/-
Daily Return 29,169%
POAIIF 50.4544/- 49.9499/-
Daily Return 7.35%
POAIF 52.26/- 50.95/-
Daily Return 7.17%
POASF 56.85/- 55.43/-
Daily Return 19.77%
POAF 10.7829/-
Daily Return 366.47%
*Daily Returns are calculated as per MUFAP guidelines

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

Revenue target may be fixed at Rs 1,711 billion
The government may fix revenue collection target for 2010-11 at Rs 1,711 billion, against Rs 1,380 billion for current 2009-10, reflecting an increase of Rs 311 billion. Sources told Business Recorder on Saturday that the projected figure of Rs 1,711 billion has been given in the Medium-Term Fiscal Framework (2011-2013) more... (BR)

MONEY WEEK: currency market eases; domestic liquidity still tight
The inflow of $349 million received from the Coalition Support Fund late last month failed to bring respite in the tight domestic money market last week; albeit it did release some pressure from the currency market as dollar's liquidity eased both in interbank and open counters more... (BR)

Prices of essential commodities revised
District Price Control Committee has revised the prices of essential commodities and adjusted them according to market trends. Under directions of DCO/Administrator a special meeting of the committee held here on Saturday with EDO (F & P) Iqbal Hussain in the chair to review the prices of essential food items more... (BR)

Politics

Two-day Pak-US strategic dialogue from March 28
Pakistan and the United States are scheduled to hold the next round of strategic dialogue towards the end of the current month, in Washington, with acquisition of civil nuclear technology and military to military co-operation on top of Pakistan's agenda more... (BR)

Kayani visits Karzai, ISAF chief
The Chief of Army Staff (COAS) General Ashfaq Parvez Kayani has paid an unannounced visit to Afghanistan, where he met with International Security Assistance Force (ISAF) Commander in Afghanistan General Stanley McChrystal and Afghan President Hamid Karzai more... (FD)

Gilani calls Shahbaz talks on concerns
Prime Minister Syed Yousuf Raza Gilani Sunday telephoned Punjab Chief Minister Shahbaz Sharif and conveyed Pakistan Peoples Party (PPP) Parliamentary Committee's concerns to him. During the conversation, the two leaders discussed the complaints of some senior PPP ministers and Parliamentarians regarding Punjab government and the prevailing political situation in the country more... (FD)

Sector Briefing

APL keen to buy 100 percent shares of Admore
Attock Petroleum Limited (APL) has expressed willingness to purchase 100 percent shares of Admore Gas (Private) Limited. The APL has signed a memorandum of understanding (MoU) with AGPL on Thursday in this regard. In a notice sent to Karachi Stock Exchange, the APL said that the decision to purchase Admore shares or not and other formalities, terms and conditions will be finalised subject to satisfactory completion of due diligence and the board of directors' approval more... (BR)

Urea import on credit from S. Arabia planned
The ministry of food and agriculture is seeking permission for the import of 400,000 tons urea for Kharif-2010 from Saudi Arabia on credit more... (D)

Insurance companies solvency requirements: SECP issues draft of amendments to rules
The Securities and Exchange Commission of Pakistan (SECP) has issued draft of comprehensive amendments in the Securities and Exchange Commission (Insurance) Rules, 2002 to revise solvency requirements of insurance companies and specify guidelines on investment of such undertakings 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

Separator

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.