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March 18 , 2010
Statistics
KSE-100 Index
Previous Index 10,017.71
Current Index 9,989.81
Change % (0.28)%
YTD (CY10) 6.42%
YTD (FY10) 39.48%

International Indicators
  Close %age
BSE-30 17,383.18 1.27%
HANGSENG 21,022.93 (0.27)%
NIKKEI 255 10,721.71 (0.30)%
FTSE 5,620.43 0.48%
DJIA 10,659.23 0.16%
SSEC 3,050.48 1.93%
NASDAQ 2,370.28 0.34%

SCRA
Mar 16 , 2010 5.59
March, 2010 65.72
YTD 359.78

Money Market Updates
6m T-bill 10-Mar-10 12.30%
12m T-bill 10-Mar-10 12.36%
3m KIBOR 12.36%
6m KIBOR 12.44%
10 yrs PIB 12.45%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 116.52
Rs/UK 128.76
Rs/US 84.53
Rs/OR 217.22

Commodities
Oil $82.38/barrel
Oil Change in % (0.66)%
Gold $1,123.00/ounce
Gold Change in % (0.11)%

Inflation
CPI Gen. - YoY (Feb 10) 13.00%
CPI Gen. - FY10 (Jul -09-Feb 10) 11.10%
NFNE Core INFL - YoY (Feb-10) 10.10%
NFNE Core INFL - FY10 (Jul-09-Feb-10) 11.40%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Mar 11, 2010) 14.72bn
Trade Balance (Jul-Feb 10) $(9.42)bn
Curr. A/C (Jul-Jan-10) $(2.49)bn
Remittances (Jul -Feb 10) $5.79bn
Foreign Investment (Jul -Feb-10) $1.02bn
All Sch. Banks Deposit Base (Mar 13, 2010) Rs4,419bn

NAVs and Returns
as of Mar 17, 2010
Funds Offer Redemption
POBOP 47.4040/- 46.9300/-
Daily Return 7.75%
POAIIF 50.5619/- 50.0563/-
Daily Return 7.33%
POAIF 52.64/- 51.32/-
Daily Return (85.15)%
POASF 57.04/- 55.61/-
Daily Return (111.24)%
POAF 10.8255/-
Daily Return 10.65%
*Daily Returns are calculated as per MUFAP guidelines

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

$1.2 billion tranche not on IMF board agenda till March 31
The International Monetary Fund (IMF) has postponed approval of 1.2 billion dollars tranche for Pakistan till March 31 contingent to the appointment of next finance minister, Business Recorder has learnt. Sources said that Pakistan is no longer on the agenda of IMF Board meeting on March 24 for approval of 1.2 billion dollars next tranche because there is no finance minister to sign the Letter of Intent (LoI) more... (BR)

10-year PIBs cut-off yield set at 12.4502 percent
The State Bank of Pakistan set a cut-off yield of 12.7502 percent on 10-year investment bond at an auction on Wednesday, up from 12.5389 percent previously more... (BR)

Finance ministry opposes PSDP hike to Rs300bn
With Pakistan and International Monetary Fund yet to sign a memorandum of understanding for the next $1.2 billion tranche, the finance more... (D)

Politics

Obama, Karzai discuss prospects for Taliban talks
Afghan President Hamid Karzai discussed prospects of peace with the Taliban in a video phone conversation with US President Barack Obama more... (D)

India alleges Pakistan not serious in closing 'terror' camps
India on Wednesday said 42 militant training camps were operating in Pakistan and accused the country's government of making little effort to close them. The accusation came after the foreign secretaries of India and Pakistan met last month for the first official talks since the 2008 attacks on Mumbai, which India blames on Pakistani militants more... (BR)

Hafeez Shaikh made finance advisorMusharraf policies may help govt to get out of crises
The economic policies of former prime minister Shaukat Aziz and president Pervez Musharraf may continue as government has chosen 2002-07-regime minister Dr Abdul Hafeez Shaikh as Advisor to Prime Minister on Finance more... (FD)

Sector Briefing

Ministry directed to review fertilisers situation thoroughly
The Ministry of Industries and Production is understood to have been directed by Prime Minister Yousaf Raza Gilani to review anticipated additional production, demand thoroughly, and price of fertilisers in the short and long term, official sources told Business Recorder more... (BR)

Telecard given 10-year relief in fee payment
Telecard Limited has been granted 10- year extension in payment of Rs1.586 billion Initial Spectrum Fee (ISF) payable to Pakistan more... (D)

KESC-PSO row over fuel supply leads to 8-10 hours loadshedding
No respite is expected for the crises-hit Karachiites who have once again started braving un announced hours-long loadshedding after Pakistan State Oil (PSO) refused to supply fuel to Karachi Electric Supply Company (KESC) against the directives of the Prime Minister 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.