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April 29 , 2010
Statistics
KSE-100 Index
Previous Index 10,556.39
Current Index 10,519.02
Change % (0.35)%
YTD (CY10) 12.06%
YTD (FY10) 46.87%

International Indicators
  Close %age
BSE-30 17,380.08 (1.76)%
HANGSENG 20,949.40 (1.47)%
NIKKEI 255 10,924.79 (2.60)%
FTSE 5,586.61 (0.30)%
DJIA 11,045.27 0.48%
SSEC 2,900.33 (0.26)%
NASDAQ 2,471.73 0.01%

SCRA
April 27 , 2010 33.33
April, 2010 109.12
YTD 501.64

Money Market Updates
6m T-bill 07-Apr-10 12.35%
12m T-bill 07-Apr-10 12.41%
3m KIBOR 12.26%
6m KIBOR 12.34%
10 yrs PIB 12.53%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 111.13
Rs/UK 128.48
Rs/US 84.04
Rs/OR 216.08

Commodities
Oil $83.16/barrel
Oil Change in % (0.07)%
Gold $1,167.40/ounce
Gold Change in % (0.38)%

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 23, 2010) 14.98bn
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 24, 2010) Rs4,430bn

NAVs and Returns
as of April 28, 2010
Funds Offer Redemption
POBOP 47.7024/- 47.2254/-
Daily Return (99.30)%
POAIIF 50.9306/- 50.4213/-
Daily Return 7.58%
POAIF 53.99/- 52.64/-
Daily Return (97.07)%
POASF 58.08/- 56.63/-
Daily Return (148.24)%
POAF 11.0005/-
Daily Return (13.58)%
*Daily Returns are calculated as per MUFAP guidelines

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

For 1st time budget to be in May: Qamar
Minister for petroleum and natural resources, Syed Naveed Qamar Wednesday said it would be for the first time in the country's history that the federal government announces the budget in the month of May instead of June more... (FD)

'Government makes commitment to IMF without doing homework'
The government has made commitment to the IMF with regard to the implementation of Value-Added Tax without doing proper homework. Bushara Gohar of Awami National Party (ANP) said this on Wednesday as the National Assembly Standing Committee on Finance met to take up the VAT Bill-2010 designed to be implemented from July 1 as per the commitment to the IMF more... (BR)

FX reserves dwindle to $14.98bn
Foreign exchange reserves eased to $14.98 billion in the week ending on April 23 from $15.05 billion a week ago, the central bank said Wednesday. Reserves held by the State Bank of Pakistan (SBP) fell to $11.06 billion from $11.11 billion a week earlier, while those held by commercial banks eased to $3.92 billion from $3.94 billion, SBP's chief spokesman, Syed Wasimuddin said more... (FD)

Politics

Cooperation on water sought: Gilani addresses 16th Saarc Summit
Pakistan on Wednesday asked for a regional cooperation on water conservation and water management may be instituted together with programmes for watershed rehabilitation on major South Asian river systems more... (BR)

US unlikely to block Chinese N-exports to Pakistan
The US-India nuclear deal prevents the Obama govt from blocking this possible export: think-tank more... (D)

Gen Kayani reshuffles more Corps Commanders
Chief of the Army Staff (COAS) General Ashfaq Parvez Kayani has replaced the Corps Commanders of Gujranwala and Rawalpindi. According to military sources, Lt Gen Jamil Haider has been appointed Corps Commander Gujranwala while the current Corps Commander Gujranwala Lt Gen Nadeem Taj has been appointed as Adjutant General of Pakistan Army more... (FD)

Sector Briefing

NBFCs licence period extended to three years
The Securities and Exchange Commission of Pakistan (SECP) has extended the validity period, from one year to three years, for the licences to be issued to non-banking finance companies (NBFCs). In this regard, the SECP has made significant amendments in the Non-Banking Finance Companies (Establishment and Regulation) Rules 2003 (Rules), which are effective from April 21, 2010 more... (BR)

PPL to get exploration licences for four blocks
The government is going to grant exploration licences for four blocks to Pakistan Petroleum Limited (PPL), that would attract a minimum investment of $24.2 million in the exploration activities, Business Recorder has learnt. The signing ceremony, to be held on Thursday, will be witnessed by Federal Minister for Petroleum and Natural Resources Naveed Qamar more... (BR)

Wateen public offering oversubscribed
The Initial Public Offering (IPO) of Wateen Telecom Limited was 82 per cent oversubscribed, Arif Habib Limited, the adviser and arranger to more... (D)

(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.