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April 16 , 2010
Statistics
KSE-100 Index
Previous Index 10,570.88
Current Index 10,677.47
Change % 1.01%
YTD (CY10) 13.75%
YTD (FY10) 49.08%

International Indicators
  Close %age
BSE-30 17,639.26 (1.03)%
HANGSENG 22,157.82 0.20%
NIKKEI 255 11,273.79 0.60%
FTSE 5,825.01 0.60%
DJIA 11,144.57 0.19%
SSEC 3,164.97 (0.04)%
NASDAQ 2,515.69 0.43%

SCRA
April 14 , 2010 19.92
April, 2010 73.68
YTD 466.21

Money Market Updates
6m T-bill 07-Apr-10 12.35%
12m T-bill 07-Apr-10 12.41%
3m KIBOR 12.29%
6m KIBOR 12.36%
10 yrs PIB 12.53%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 114.65
Rs/UK 130.27
Rs/US 83.96
Rs/OR 215.93

Commodities
Oil $84.88/barrel
Oil Change in % (0.74)%
Gold $1,155.20/ounce
Gold Change in % (0.44)%

Inflation
CPI Gen. - YoY (Mar 10) 12.90%
CPI Gen. - FY10 (Jul -09-Mar 10) 11.29%
NFNE Core INFL - YoY (Mar-10) 9.90%
NFNE Core INFL - FY10 (Jul-09-Mar-10) 11.20%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 168.20mn
US$ Reserves (Apr 10, 2010) 15.05bn
Trade Balance (Jul-Mar 10) $(10.92)bn
Curr. A/C (Jul-Feb-10) $(2.56)bn
Remittances (Jul -Mar 10) $6.55bn
Foreign Investment (Jul -Feb-10) $1.02bn
All Sch. Banks Deposit Base (Apr 10, 2010) Rs4,451bn

NAVs and Returns
as of April 14, 2010
Funds Offer Redemption
POBOP 47.5704/- 47.0947/-
Daily Return 8.56%
POAIIF 50.8956/- 50.3866/-
Daily Return 7.36%
POAIF 54.46/- 53.10/-
Daily Return 75.77%
POASF 58.53/- 57.07/-
Daily Return 51.24%
POAF 10.9369/-
Daily Return (42.70)%
*Daily Returns are calculated as per MUFAP guidelines

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

IMF happy with Finance
"Things are under control and we would manage everything," says an official of the Finance Ministry who was questioned on a bleak picture of the economy with daunting challenges presented in the documents given to the IMF more... (BR)

Domestic debt crosses historic high
The country's domestic debt stocks have crossed Rs 4 trillion mark for the first time in the history due to the significant rise in fiscal deficit and slow foreign inflows. The central bank has revealed that the country's overall domestic debts comprising permanent debt, floating debt and un-funded debt stocks have registered a healthy growth of some 14 percent during the July-February of current fiscal year more... (BR)

Pakistan's foreign exchange reserves exceed $15 billion
The country's liquid foreign exchange reserves have crossed $15 billion mark with an increase of some $90 million during the last week. The central bank on Thursday issued the latest figures of liquid forex reserves, which depict an increase of $90.2 million in overall reserves from $14.9580 billion to $15.0482 billion during last week ended April 10, 2010 more... (BR)

Politics

UN releases report on murder of Benazir: Musharraf government held responsible
Musharraf-led government failed to properly protect former prime minister Benazir Bhutto and to investigate her December 2007 assassination, a UN investigation reported on Thursday. The 65-page report said that the inquiry commission believes the failure by Pakistani authorities to effectively investigate Benazir Bhutto's death was "deliberate." more... (BR)

Abrogation of 17th Amendment defeat of dictatorship: Nawaz
Pakistan Muslim League-N Quaid Nawaz Sharif on Thursday said that abrogation of the 17th Constitutional Amendment is victory of democracy and public and defeat of dictatorship that buried the dictatorship with last vestiges. Nawaz felicitated the nation on the passage of 18th Constitutional Amendment Bill 2010 by upper house of Parliament more... (BR)

Pakistan also offers nuclear security skills to world
In a policy paper presented to world leaders, Pakistan offered to share detection and response to illicit trafficking more... (D)

Sector Briefing

Cement sales post 13pc growth
Cement dispatches inclusive of exports rose by 13 per cent to 25 million tons in the first nine months (July-March) 2009-10 as against 22.2 more... (D)

Exports register 38 per cent rise in March
The export performance in the month under review has been the highest recorded in any month of the current year more... (D)

WTL to go public by offering 110 million shares
The Abu Dahabi Group's second telecom venture, Wateen Telecom Limited (WTL) is going public by offering 110 million shares while 90 million shares have been allocated under the green shoe option. WTL shares are being offered at the face value of Rs 10 each despite the fact that fair value of the company has been calculated at Rs 22.30 while the book value at Rs 52 per share 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.