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June 18, 2010
Statistics
KSE-100 Index
Previous Index 9,436.88
Current Index 9,676.71
Change % 2.54%
YTD (CY10) 3.09%
YTD (FY10) 35.11%

International Indicators
  Close %age
BSE-30 17,616.69 0.88%
HANGSENG 20,138.40 0.38%
NIKKEI 255 9,999.40 (0.67)%
FTSE 5,253.89 0.30%
DJIA 10,434.17 0.24%
SSEC 2,567.32 (0.10)%
NASDAQ 2,307.16 0.05%

SCRA
June 16 , 2010 1.06
June, 2010 46.68
YTD 519.60

Money Market Updates
6m T-bill 02-June-10 12.10%
12m T-bil 02-June-10 12.19%
3m KIBOR 12.30%
6m KIBOR 12.38%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 104.80
Rs/UK 125.65
Rs/US 85.44
Rs/OR 220.21

Commodities
Oil $76.55/barrel
Oil Change in % (0.31)%
Gold $1,246.10/ounce
Gold Change in % (0.21)%

Inflation
CPI Gen. - YoY (May-10) 13.1%
CPI Gen. - FY10 (Jul -09-May 10) 11.6%
NFNE Core INFL - YoY (May-10) 10.3%
NFNE Core INFL - FY10 (Jul-09-May-10) 11.1%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,051
Population 169.73mn
US$ Reserves (Jun 11, 2010) $15.71bn
Trade Balance (Jul-May 10) $(13.88)bn
Curr. A/C (Jul-May-10) $(2.98)bn
Remittances (Jul -May 10) $8.06bn
Foreign Investment (Jul -May-10) $1.89bn
All Sch. Banks Deposit Base (Jun 11, 2010) Rs4,583bn

NAVs and Returns
as of June 17, 2010
Funds Offer Redemption
POBOP 45.3419/- 44.8885/-
Daily Return 5.34%
POAIIF 51.4946/-   50.9797/-
Daily Return 8.74%
POAIF 51.34/- 50.06/-
Daily Return 212.68%
POASF 54.14/- 52.79/-
Daily Return 138.81%
POAF 11.0997/-
Daily Return 11.10%
*Daily Returns are calculated as per MUFAP guidelines

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

Current account balance posts surplus of $136 million
The country's current account balance has become surplus primarily driven by massive decline in goods and services trade deficit, besides record home remittances. The State Bank of Pakistan on Thursday revealed that the current account balance has posted a surplus of $136 million during May 2010 as compared to some $252 million deficit during April 2010 more... (BR)

Govt resolves to levy CGT on shares sale
With stock brokers showing their muscle through market rallies, the government officials seemed ready not to be blackmailed and push through the capital gains tax on shares sale – not purchases – with effect from June 5, 2010 when the federal budget was announced more... (D)

US to help Pakistan construct damsPak, US to create water regulatory authority
The US has given a green signal to engage with India and Afghanistan on the issue of construction of dams on River Indus and Kabul River, said Secretary Water and Power Shahid Rafi here Thursday, meanwhile US Under Secretary of State for Democracy and Global Affairs Maria Otero talking to the media after holding talks at a meeting for Pak-US cooperation on water development said the US will also extend support to Pakistan for building of dams more... (FD)


Politics

China defends nuclear cooperation as 'peaceful'
China on Thursday defended its nuclear co-operation with Pakistan as peaceful after the United States announced it had sought clarification from Beijing on the sale of two reactors to Islamabad. "China and Pakistan have maintained co-operation in recent years in the civilian use of nuclear energy," foreign ministry spokesman Qin Gang told reporters when asked about the US reaction to the deal more... (BR)

Transfer of powers by Jun 2011: GilaniProvinces to be empowered as per 18th Amendment: PM
Telephones Sharif, congratulates him on LHC verdict
Prime Minister Yousuf Raza Gilani said Thursday that provinces need to improve their administrative structure so that powers could be transferred from the Centre to provinces in accordance with the 18th Constitutional Amendment more... (FD)

PPP obtains resignations of 17 women MPAs
The PPP leadership has obtained resignations from women members of the Punjab Assembly belonging to the party so that any of them can be shown the door on violating party discipline in future more... (D)


Sector Briefing

UAE's Etisalat asked to pay $500 million
The majority shareholder of PTCL was asked to make an emergency payment to avoid a breach in the fiscal deficit target more... (D)

Nishat Group, consortium acquire AES Lal Pir and AES Pak Gen
Nishat Group and consortium Abu Dhabi Investment Council (ADIC) and City School have acquired AES Lal Pir and AES Pak Gen from AES Corporation of USA. According to a press release issued here on Thursday, AES Lal Pir and Pak Gen are based in Muzaffar Garh and were established in late 1990 more... (BR)

Empower Ogra to impose penalties on big OMCs: MoP suggestion to ECC
The Ministry of Petroleum and Natural Resources on Thursday proposed to the Economic Co-ordination Committee to empower Oil and Gas Regulatory Authority to impose fines and penalties on big Oil Marketing Companies, Business Recorder has learnt. This proposal is expected to resolve the transportation issues (fuel from Karachi to Mehmudkot through White Oil Pipeline) of small OMCs, sources said 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

Separator

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.