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April 05 , 2010
Statistics
KSE-100 Index
Previous Index 10,246.77
Current Index 10,416.52
Change % 1.66%
YTD (CY10) 10.97%
YTD (FY10) 45.44%

International Indicators
  Close %age
BSE-30 17,692.62 0.94%
HANGSENG 21,537.00 1.40%
NIKKEI 255 11,286.09 0.37%
FTSE 5,744.89 1.20%
DJIA 10,927.07 0.65%
SSEC 3,157.96 0.33%
NASDAQ 2,402.58 0.19%

SCRA
April 02 , 2010 10.60
April, 2010 19.76
YTD 412.29

Money Market Updates
6m T-bill 24-Mar-10 12.30%
12m T-bill 24-Mar-10 12.36%
3m KIBOR 12.33%
6m KIBOR 12.40%
10 yrs PIB 12.64%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 113.83
Rs/UK 128.29
Rs/US 84.48
Rs/OR 213.91

Commodities
Oil $85.66/barrel
Oil Change in % 0.93%
Gold $1,125.50/ounce
Gold Change in % (0.05)%

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 27, 2010) 14.94bn
Trade Balance (Jul-Feb 10) $(9.42)bn
Curr. A/C (Jul-Feb-10) $(2.56)bn
Remittances (Jul -Feb 10) $5.79bn
Foreign Investment (Jul -Feb-10) $1.02bn
All Sch. Banks Deposit Base (Mar 27, 2010) Rs4,424bn

NAVs and Returns
as of April 03, 2010
Funds Offer Redemption
POBOP 47.4511/- 46.9766/-
Daily Return 1200%
POAIIF 50.7756/- 50.2678/-
Daily Return 7.45%
POAIF 53.64/- 52.30/-
Daily Return (6.98)%
POASF 58.04/- 56.59/-
Daily Return 6.45%
POAF 10.9097/-
Daily Return 1574%
*Daily Returns are calculated as per MUFAP guidelines

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

Small dams' construction: China urged to release $700 million
Pakistan has urged China to disburse $ 700 million loan, pledged for small and medium sized dams, that would enable mobilisation of contractors in an effort to mitigate the ongoing water and power shortages, Business Recorder has learnt more... (BR)

Rising banking spread harmful to savings
Depositors will continue to lose as both banking spread and inflation are rising eroding the value of return on their savings more... (D)

First gas-fired rental power plant inaugurated: Zardari invites foreign investors
President Asif Zardari on Sunday urged foreign investors to take advantage of the business opportunities in Pakistan and establish energy and infrastructure projects in partnership with provincial governments more... (BR)

Politics

NAB to reopen settled cases against politicians
A NAB official said the decision to reopen the disposed cases had been taken on directives of the Supreme Court more... (D)

Nawaz turns down invitation to attend joint session
Pakistan Muslim League-Nawaz chief Nawaz Shairf has turned down government's invitation to attend the joint sitting of Parliament as President Asif Zardari is all set to deliver the speech before a joint sitting on Monday to take the lead in announcing the omission of Article 58(2) b, empowering the president to dissolve the National Assembly more... (BR)

Ex-attorney general meets chief justice
Great significance is attached to the meeting against the controversy created after the AG’s resignation more... (D)

Sector Briefing

SNGPL seeks Ogra permission for gas rate hike
Sui Northern Gas Pipeline Limited (SNGPL) has sought permission from Oil and Gas Regulatory Authority Ogra to raise gas rates by Rs 20.36 per MMBTU with effect from July 1. The SNGPL, through an application, has requested the Ogra for increase in gas rates on the pretext of extraordinary expenses for maintenance, operation of the network and other non-development expenses more... (BR)

SNGPL calls stakeholders' meeting today: one-day gas loadshedding for industries proposed
The Sui Northern Gas Pipelines (SNGPL) has decided to suspend supply of gas to industrial sector, including textile mills, cement plants, sugar mills. fertiliser plants and other industrial units in Punjab for one day in a week, to supply more gas to thermal power plants which are shut down due to non-supply of furnace oil to these units by Pakistan State Oil (PSO) more... (BR)

Bank deposits up 2.3pc in 1QCY10 Net advances dip 1.74pc, provisions up 13.5pc
During the first quarter of calendar year 2010 (Jan-Mar) total deposits of banks increased by 2.3 per cent to Rs4.42 trillion as compared to Rs4.32 trillion at the end of last year, State Bank of Pakistan (SBP) said. SBP has released the combined balance sheet of all scheduled banks in Pakistan as of March 27, 2010 more... (FD)

(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.