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April 23 , 2010
Statistics
KSE-100 Index
Previous Index 10,590.21
Current Index 10,615.15
Change % 0.24%
YTD (CY10) 13.08%
YTD (FY10) 48.21%

International Indicators
  Close %age
BSE-30 17,573.99 0.60%
HANGSENG 21,454.94 (0.26)%
NIKKEI 255 10,949.09 (1.30)%
FTSE 5,665.33 (1.00)%
DJIA 11,134.29 0.08%
SSEC 2,999.48 (1.11)%
NASDAQ 2,519.07 0.58%

SCRA
April 21 , 2010 0.68
April, 2010 67.72
YTD 460.24

Money Market Updates
6m T-bill 07-Apr-10 12.35%
12m T-bill 07-Apr-10 12.41%
3m KIBOR 12.27%
6m KIBOR 12.35%
10 yrs PIB 12.53%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 112.44
Rs/UK 129.55
Rs/US 83.99
Rs/OR 214.81

Commodities
Oil $83.62/barrel
Oil Change in % (0.10)%
Gold $1,141.60/ounce
Gold Change in % (0.11)%

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-Mar-10) $(2.70)bn
Remittances (Jul -Mar 10) $6.55bn
Foreign Investment (Jul -Mar-10) $1.37bn
All Sch. Banks Deposit Base (Apr 17, 2010) Rs4,415bn

NAVs and Returns
as of April 22, 2010
Funds Offer Redemption
POBOP 47.6527/- 47.1762/-
Daily Return 7.88%
POAIIF 50.8794/- 50.3706/-
Daily Return 7.98%
POAIF 54.23/- 52.87/-
Daily Return 48.39%
POASF 58.33/- 56.87/-
Daily Return 90.08%
POAF 10.9828/-
Daily Return 16.91%
*Daily Returns are calculated as per MUFAP guidelines

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

Budget deficit to overshoot target
The country's budget deficit may reach 5.5 percent of gross domestic product this fiscal year, officials said on Thursday, overshooting a 5.1 percent target agreed with the International Monetary Fund (IMF). The IMF board is scheduled to meet on May 3 to discuss the approval of a fifth tranche of a $1.2 billion loan for the cash-strapped US ally, which is battling insurgency in its north-west more... (BR)

IMF chief urges G20 cooperation on finance reform
Countries around the world must not go separate ways on reforming the financial sector, the head of the International Monetary Fund said as finance ministers and central bank chiefs gathered in Washington. Dominique Strauss-Kahn, the IMF's Managing Director, said on Thursday that countries need to ensure they're moving in the same direction if they are to be effective in curbing risky bank practices more... (BR)

Reserves flat at $15.05bn
Foreign exchange reserves were flat at $15.05 billion in the week ending on April 17, unchanged from the previous week, the central bank said more... (D)

Politics

ISI chief Hamid Gul's remarks outrageous: US
"General Gul made a baseless suggestion that the US was responsible for the assassination of Benazir Bhutto." more... (D)

BoP loan scam: arrangements made to bring back Hamesh: NAB
The National Accountability Bureau has made all arrangements to repatriate Hamesh Khan, main accused in Rs 9 billion Bank of Punjab loan scam and to present him before the court on May 15. Officials of the Bureau have obtained visas for their journey to the US and tickets were also booked to bring Hamesh Khan back to Pakistan, sources in NAB told this scribe on Thursday more... (BR)

No Singh-Gilani talks planned in Bhutan: India
No meeting is slated so far between the PMs of India and Pakistan on the margins of a SA summit: Indian foreign secretary more... (D)

Sector Briefing

Kapco stops power project work
The Kot Addu Power Company (Kapco) has announced to do away with the proposed 280MW expansion project due to the impending circular debt and its consequential impact on the fuel supply chain to the power sector. In an information sent to Karachi Stock Exchange (KSE), the company said that the decision has been taken in the company's board of directors meeting held on Wednesday more... (BR)

Rs12 billion debt of Maple Leaf restructured
Banks syndicate and Sukuk holders agreed on Thursday to restructure Rs12 billion debt of Maple Leaf Cement Company and decided to inject Rs1 more... (D)

Third quarter fiscal year 2010 results: PSO posts healthy earning of Rs 7.534 billion
Despite circular debt issue, Pakistan State Oil has posted healthy earning of Rs 7.534 billion in the first nine months period ended March 31, 2010 as compared to a huge loss of Rs 9.269 billion recorded in the corresponding period last year. The board of management of the company in its meeting held here on Thursday declared that the company's per share earning surged to Rs 43.93 in the period under review against per share loss of Rs 54.04 in the same period a year ago 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.