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May 24 , 2010
Statistics
KSE-100 Index
Previous Index 9,993.40
Current Index 9,871.16
Change % 1.22%
YTD (CY10) 5.16%
YTD (FY10) 37.82%

International Indicators
  Close %age
BSE-30 16,445.61 1.72%
HANGSENG 19,545.00 (0.10)%
NIKKEI 255 9,784.54 (2.50)%
FTSE 5,062.93 (0.20)%
DJIA 10,193.39 1.25%
SSEC 2,583.52 3.44%
NASDAQ 2,229.04 1.14%

SCRA
May 20, 2010 2.87
May, 2010 15.12
YTD 535.90

Money Market Updates
6m T-bill 19-May-10 12.09%
12m T-bil l19-May-10 12.17%
3m KIBOR 12.11%
6m KIBOR 12.21%
10 yrs PIB 12.58%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 106.46
Rs/UK 121.62
Rs/US 84.61
Rs/OR 218.11

Commodities
Oil $70.73/barrel
Oil Change in % 0.99 %
Gold $1,189.60/ounce
Gold Change in % 1.15 %

Inflation
CPI Gen. - YoY (Apr-10) 13.3%
CPI Gen. - FY10 (Jul -09-Apr 10) 11.49%
NFNE Core INFL - YoY (Apr-10) 10.6%
NFNE Core INFL - FY10 (Jul-09-Apr-10) 11.20%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $1,085
Population 169.55mn
US$ Reserves (May 14, 2010) $15.05bn
Trade Balance (Jul-Apr 10) $(12.24)bn
Curr. A/C (Jul-Apr-10) $(3.06)bn
Remittances (Jul -Apr 10) $7.31bn
Foreign Investment (Jul -Apr-10) $1.73bn
All Sch. Banks Deposit Base (Apr 24, 2010) Rs4,430bn

NAVs and Returns
as of May 21, 2010
Funds Offer Redemption
POBOP 45.9351/- 45.4757 /-
Daily Return 9.06%
POAIIF 51.2162/-   50.7040/-
Daily Return 7.39%
POAIF 52.51/- 51.20/-
Daily Return (254.85)%
POASF 55.46/- 54.07/-
Daily Return (400.59)%
POAF 11.06/-
Daily Return 10.40%
*Daily Returns are calculated as per MUFAP guidelines

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

Economy grows 4.1 percent in 2009-10
Pakistan's economy likely grew by 4.1 percent in the fiscal year ending on June 30, above a target of 3.3 percent, and is expected to grow even faster in the next fiscal year. Nuclear-armed Pakistan, a critical US ally fighting to quell a growing Islamist militancy, has struggled to revive its sluggish economy which, government officials say, has now started to show signs of stability more... (BR)

Balochistan govt to invest in oil, gas, mineral exploration
The Balochistan government has chalked out a comprehensive plan to secure its financial resources by making investments in major oil, gas and mineral exploration companies operating in the province more... (D)

Setting up of PDC worth Rs 373.466 million in the offing
Federal government is actively considering establishing Product Development Centre (PDC) for composite based sports goods in Sialkot, worth Rs 373.466 million more... (BR)

Politics

Hearing on NRO starts today
Monday would be an important day for government and judiciary as the hearing in NRO and 18th amendment cases would commences.
NRO case would be on top of the issue as Supreme Court has ordered the government to reopen cases which were more... (TFD)

Kasab gets verdict copy; can appeal in 60 days
Ajmal Kasab, sentenced to death for killing 166 people in the 26/11 Mumbai terror attacks, has been handed over a copy of the judgment by the jail authorities more... (TFD)

Gilani gives 'vision statement' on power sector: 62 megawatts rental power plant inaugurated
Prime Minister Syed Yousuf Raza Gilani on Sunday announced the vision statement for the power sector developed by the Ministry of Water and Power, in consultation with the key stakeholders more... (BR)

Sector Briefing

First new cotton crop bargain struck at Rs 5,500; others to follow
Cotton sowing operation has been geared up to attain maximum results by the end of May month but it may be extended to be finally completed latest by 15th of June more... (BR)


'Textile sector exempted from power loadshedding'
Secretary, Commerce and Investment, Fazal Abbas Maken, has said that the government had exempted the textile sector of power load shedding besides providing relief to domestic consumers through load management. However, energy crisis would end in due course of time more... (BR)

Import tariff on autoparts up 15pc
The government, in order to protect local auto spare parts manufacturing industry, has decided to impose 15 per cent more duty on auto parts import. In this respect, government has asked Engineering Development Board to prepare the list of auto spare parts items which are being prepared locally more... (TFD)

(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
    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.