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April 07 , 2010
Statistics
KSE-100 Index
Previous Index 10,447.84
Current Index 10,419.82
Change % (0.27)%
YTD (CY10) 11.00%
YTD (FY10) 45.48%

International Indicators
  Close %age
BSE-30 17,941.37 0.03%
HANGSENG 21,537.00 1.40%
NIKKEI 255 11,408.17 0.50%
FTSE 5,780.35 0.60%
DJIA 10,969.99 (0.03)%
SSEC 3,157.96 0.33%
NASDAQ 2,436.81 0.30%

SCRA
April 05 , 2010 5.65
April, 2010 25.41
YTD 417.93

Money Market Updates
6m T-bill 24-Mar-10 12.30%
12m T-bill 24-Mar-10 12.36%
3m KIBOR 12.31%
6m KIBOR 12.38%
10 yrs PIB 12.64%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 112.82
Rs/UK 127.99
Rs/US 84.05
Rs/OR 215.13

Commodities
Oil $86.92/barrel
Oil Change in % 0.09%
Gold $1,139.20/ounce
Gold Change in % 0.28%

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 06, 2010
Funds Offer Redemption
POBOP 47.4801/- 47.0053/-
Daily Return 7.49%
POAIIF 50.8057/- 50.2976/-
Daily Return 7.45%
POAIF 54.02/- 52.67/-
Daily Return 202.08%
POASF 58.18/- 56.73/-
Daily Return 19.31%
POAF 10.9279/-
Daily Return 47.35%
*Daily Returns are calculated as per MUFAP guidelines

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

Pakistan sees 4pc GDP growth in 2010-11
The country’s economy is likely to grow by 3.3 per cent in the current fiscal year and strong manufacturing and steady farm growth have more... (D)

Rs 16.27 billion remittances settled under PRI
A total of 259,611 transactions, amounting to Rs 16.27 billion, were settled during five months, November 2009 to March 2010, under Pakistan Remittance Initiative (PRI) payment system mechanism introduced last year to boost the inflow of home remittance transactions in Pakistan more... (BR)

Pakistan ranked third in riskiest debt table
Venezuela is deemed to be the world's riskiest sovereign credit while Greece is creeping up the table of countries whose debt is the costliest to insure, credit default swap monitor CDS DataVision said on Tuesday. Argentina has moved into second place in the riskiest debt table from third, after delays to the country's planned restructuring of $20 billion in debt, with CDS around 900 bps more... (BR)

Politics

Pakistan has secured its nuclear weapons: Obama
President Obama, underscoring the need for nuclear safety around the world, has said he is confident that Pakistan has secured its atomic weapons. "I feel confident that Pakistan has secured its nuclear weapons. I am concerned about nuclear security all around the world, not just in Pakistan but everywhere," he said in an interview with The New York Times published on Tuesday more... (BR)

Australia blocks shipment to Pakistan over weapons fears
Australia has blocked a shipment of scientific equipment to Pakistan over fears it could be used to help build weapons of mass destruction, a spokesman for Defence Minister John Faulkner said on Tuesday. The government used the 1995 Weapons of Mass Destruction (Prevention of Proliferation) Act to stop an Australian company exporting instruments and accessories to a Pakistani firm, he said more... (BR)

Rabbani acknowledges Pakistan's support for Afghanistan
Former Afghan President Professor Burhanuddin Rabbani has said that Afghan people cannot forget Pakistani support during the Soviet invasion and hosting millions of refugees so far. Talking to APP, Professor Rabbani said both the countries have historical relations and shared deep-rooted bonds of history, culture, geography, customs, languages, literature and faith more... (BR)

Sector Briefing

All untargeted textile subsidies may be abolished by June 2011
The federal government is expected to abolish the entire textile sector's untargeted cash subsidies by June 30, 2011 as per the agreement with Asian Development Bank (ADB), sources close to Secretary, Economic Affairs Division (EAD), told Business Recorder more... (BR)

Circular debt increases to Rs 115 billion
Total amount of circular debt has increased to Rs 115 billion as no major payments have been made by the government during the first quarter of year 2010. "Although the issue of circular debt had been once resolved by the government through issuance of terms finance certificates (TFCs) last year, the energy companies still face liquidity constraint, affecting their business operation", analysts said more... (BR)

Petroleum products sale increased by 34 percent on MoM basis
Petroleum products sale at local market has increased by 34 percent on a month on month basis to 1.8 million tons in March 2010. According to the latest numbers released by Oil Companies Advisory Committee (OCAC), total sale of petroleum products has increased to 11 percent on year on year basis to 14.8 million tons in the first nine months of current fiscal year FY10 on the back of robust sales of HSD and petrol 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.