May 31 , 2010
KSE-100 Index
Previous Index 9,611.55
Current Index 9,521.15
Change % (0.94)%
YTD (CY10) 1.42%
YTD (FY10) 32.94%

International Indicators
  Close %age
BSE-30 16,936.92 0.44%
HANGSENG 19,766.71 1.77%
NIKKEI 255 9,762.98 1.30%
FTSE 5,188.43 (0.10)%
DJIA 10,138.63 (1.19)%
SSEC 2,645.69 (0.38)%
NASDAQ 2,257.04 (0.91)%

May 25, 2010 (4.13)
May, 2010 10.35
YTD 531.12

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 12.24%
10 yrs PIB 12.63%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 104.83
Rs/UK 124.01
Rs/US 85.16
Rs/OR 220.87

Oil $74.471.83/barrel
Oil Change in % 3.67%
Gold $1,219.60/ounce
Gold Change in % (0.32)%

CPI Gen. - YoY (Apr-10) 13.3%
CPI Gen. - FY10 (Jul -09-Apr 10) 11.5%
NFNE Core INFL - YoY (Apr-10) 10.6%
NFNE Core INFL - FY10 (Jul-09-Apr-10) 11.2%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,046
Population 169.61mn
US$ Reserves (May 21, 2010) $15.95bn
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 28, 2010
Funds Offer Redemption
POBOP 45.9313/- 45.4720/-
Daily Return (39.57)%
POAIIF 51.2864/-   50.7735/-
Daily Return 7.53%
POAIF 51.73/- 50.44/-
Daily Return (43.37)%
POASF 54.56/- 53.20/-
Daily Return (47.96)%
POAF 11.08/-
Daily Return 10.88%
*Daily Returns are calculated as per MUFAP guidelines

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

FY10 GDP seen at 4.5pc
Country is set to achieve the GDP growth rate of 4.5 per cent during the current financial year (FY10) by implementing nine-point economic revival agenda of the government as compared to two per cent growth last year more... (TFD)

Defence outlay to be raised to Rs 442 billion

Outlay on defence would be raised by Rs 100 billion, or about 23 percent, from Rs 343 billion allocated during 2009-10, to Rs 442 billion in the upcoming budget for 2010-11, sources told Business Recorder. However, in comparison with the original budgetary allocation for 2009-10 of Rs 378 billion the actual increase on defence would be 14.5 percent more... (BR)

Rs 140 billion projects dropped despite provinces' protest
In spite of strong protest by provinces during the National Economic Council (NEC) meeting on Friday, the federal government dropped all ongoing provincial projects, of around Rs 140 billion, from the Federal Public Sector Development Programme (PSDP) after provinces' enhanced share in the new National Finance Commission (NFC) Award more... (BR)


Zardari's close friend kidnapped in Karachi
Unidentified armed men kidnapped a top industrialist and businessman Riaz Laljee, along with his bodyguards and driver, on Sharea Faisal in the Airport police jurisdiction. Laljee is a close friend of President Asif Ali Zardari more... (The News)

More BoP mysteries revealed
Hamesh Khan, the prime accused in the Bank of Punjab (BoP) scandal and the man who caused huge losses to the financial institution, got Rs 105 million as performance bonus from the BoP from 2003 to 2007 more... (The News)

Sector Briefing

Banks, DFIs pull $8.6mn out of KSE
Banks and DFIs offloaded their holdings at the Karachi stock market in last week as they sold shares worth $25.35 million while invested $16.72 million resulting in net offloading of $8.63 million, as per National Clearing Company of Pakistan Limited (NCCPL) data more... (TFD)

Discos allowed 77 paisa per kWh increase
The National Electric Power Regulatory Authority (Nepra) has allowed the power distribution companies (Discos) to increase power tariff by 77 paisa per kWh across the board in the guise of monthly fuel adjustment charges more... (BR)

KSE sees outflow of $0.6 million
Foreign investors turned net sellers of shares at the local equity market after 16 weeks with a net outflow of $0.6 million during the week ended May 28, 2010. Banks also remained net sellers of shares worth $8.6 million; however, companies were net buyers of $5.5 million during the week 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
    Faiz Malik
Database Manager


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.