June 11, 2010
KSE-100 Index
Previous Index 9,67388.
Current Index 9,379.78
Change % (3.08)%
YTD (CY10) (0.08)%
YTD (FY10) 30.96%

International Indicators
  Close %age
BSE-30 17,084.74 0.96%
HANGSENG 19,632.70 0.06%
NIKKEI 255 9,542.65 1.10%
FTSE 5,132.50 0.90%
DJIA 10,172.53 2.76%
SSEC 2,572.75 0.40%
NASDAQ 2,218.71 2.77%

June 9 , 2010 (0.65)
June, 2010 1.45
YTD 501.91

Money Market Updates
6m T-bill 02-June-10 12.10%
12m T-bil 02-June-10 12.19%
3m KIBOR 12.24%
6m KIBOR 12.34%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 102.44
Rs/UK 124.25
Rs/US 85.29
Rs/OR 217.08

Oil $75.22/barrel
Oil Change in % 4.02%
Gold $1,218.50/ounce
Gold Change in % (1.65)%

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 $ 1,051
Population 169.72mn
US$ Reserves (May 28, 2010) $15.87bn
Trade Balance (Jul-Apr 10) $(12.24)bn
Curr. A/C (Jul-Apr-10) $(3.06)bn
Remittances (Jul -Apr 10) $8.06bn
Foreign Investment (Jul -Apr-10) $1.73bn
All Sch. Banks Deposit Base (Apr 24, 2010) Rs4,430bn

NAVs and Returns
as of June 9, 2010
Funds Offer Redemption
POBOP 45.9898/- 45.5299/-
Daily Return 5.26%
POAIIF 51.4188/-   50.9046/-
Daily Return 7.51%
POAIF 51.34/- 50.06/-
Daily Return -503.35%
POASF 54.18/- 52.83/-
Daily Return -369.31%
POAF 11.07/-
Daily Return 33%
*Daily Returns are calculated as per MUFAP guidelines

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

11M remittances exceed $8 billion
Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of $8.064 billion was received in the first eleven months (July-May) of the current fiscal year 2009-10, showing an increase of $988.21 million or 14 per cent over the same period of the last fiscal year more... (TFD)

FX reserves down at $15.87bn
Country's foreign exchange reserves fell to $15.87 billion during the week ending June 5, down from $16.01 billion the previous week, State Bank of Pakistan said Thursday more... (TFD)

Over Rs 417 billion tax-free Sindh budget today
Sindh government is likely to present a deficit budget of over Rs 417 billion for the fiscal year 2010-11, Business Recorder learnt on Thursday. According to reliable sources, the new budget, which is expected to be presented by Sindh Chief Minister Syed Qaim Ali Shah, who himself holds the portfolio of Finance, in Sindh Assembly on June 11, would mark a deficit of around Rs 30 billion more... (BR)


Pakistan offers mediation to settle Iran N-conflict
As Iran finds itself with very few supporters, and none who have condemned the UN Security Council sanctions, Pakistan on Thursday said it was ready to play a role in seeing the world powers settle more... (The News)

It's 'not possible' to revive Swiss cases: Prime Minister's directive to law ministry reiterated
The Ministry of Law, Justice and Parliamentary Affairs Thursday informed the Supreme Court that the directive of the Prime Minister is to reiterate its earlier stance: it is "not possible" to revive Swiss money laundering cases, implicating President Asif Ali Zardari. The concluding para of the 13-page concise statement submitted by the ministry reads. more... (BR)

Sector Briefing

Byco plans biggest refinery
Byco Petroleum Pakistan Limited has announced a plan to expand its oil-processing capabilities by attaining the capacity to process 120,000 barrels per day by December this year, after which it will become the largest refiner in the country.
"Byco announced this plan to take advantage of rising demand and a proposed deregulation in pricing," the chief executive officer said. The refinery, which cost $450 million and is being assembled after arriving from the United Kingdom, will have the capacity to process 120,000 barrels a day, Amir Abbassciy said more... (TFD)

Cotton yarn export restarts
After a gap of about one month, cotton yarn export has resumed and some 2,000 tons quota at a price of 3.5 dollar per kg sanctioned by the ministry of textile was utilised in a day. Sources told Business Recorder the Federal Board of Revenue, on the request of the ministry of textile, has issued formal SRO 388(I)/2010 for the amendment to the prior notification 323(I)/2010 of May 13, in which some 15 percent regulatory duty was imposed on the export of cotton yarn 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.