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June 23, 2010
Statistics
KSE-100 Index
Previous Index 9,651.35
Current Index 9,682.32
Change % 0.32%
YTD (CY10) 3.15%
YTD (FY10) 35.19%

International Indicators
  Close %age
BSE-30 17,749.69 (0.71)%
HANGSENG 20,819.08 (0.50)%
NIKKEI 255 10,112.89 (1.20)%
FTSE 5,246.98 (1.00)%
DJIA 10,293.45 (1.43)%
SSEC 2,588.70 0.10%
NASDAQ 2,261.80 (1.19)%

SCRA
June 21 , 2010 4.35
June, 2010 21.11
YTD 521.57

Money Market Updates
6m T-bill 16-June-10 12.10%
12m T-bil 16-June-10 12.19%
3m KIBOR 12.30%
6m KIBOR 12.37%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 105.12
Rs/UK 126.18
Rs/US 85.54
Rs/OR 219.45

Commodities
Oil $77.53/barrel
Oil Change in % (0.41)%
Gold $1,240.40/ounce
Gold Change in % (0.03)%

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 22, 2010
Funds Offer Redemption
POBOP 45.2056/- 44.7535/-
Daily Return 5.27%
POAIIF 51.5510/-   51.0355/-
Daily Return 8.26%
POAIF 51.25/- 49.97/-
Daily Return 36.56%
POASF 53.60/- 52.26/-
Daily Return 20.96%
POAF 11.1188/-
Daily Return 10.35%
*Daily Returns are calculated as per MUFAP guidelines

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

Govt spending frozen for FY11
Minister for Finance and Revenue Dr Hafiz Sheikh Tuesday said that people of Pakistan are centre and heart of the budget 2010-11 and government tried to provide relief to the common man more... (FD)

May oil import bill balloons 124pc YoY
Country's oil import bill rose significantly by 124.3 per cent YoY to $1.22 billion during the month of May 2010 as compared to $545.28 million in the month of May last year, mainly due to high demand of petroleum products and high consumption of furnace oil for power generation to meet shortfall of electricity more... (FD)

Body for introduction of leverage product
The Securities and Exchange Commission of Pakistan (SECP) on Tuesday constituted a committee comprising representatives of all stakeholders to ensure timely introduction of liquidity product at the capital market. The decision was taken at a meeting of the SECP with the representatives of KSE and some market participants held here to discuss various aspects relating to liquidity in the capital market more... (BR)


Politics

Gilani Backtracks
Prime Minister Yousuf Raza Gilani backtracked on Tuesday from a statement that Islamabad would abide by US sanctions on Iran that could affect a $7.6 billion Pakistani-Iranian gas pipeline project. On Monday, Gilani said Pakistan would respect US sanctions that are expected to be put into law shortly, part of Washington's opposition to an Iranian nuclear programme it suspects is being used for weapons more... (BR)

Gen McChrystal faces sack for unguarded remarks
The White House indicated that the general might lose his job for making derogatory remarks about Obama more... (D)

US senators demand action against TTP
Four US senators urged the Obama administration on Tuesday to blacklist the Pakistani Taliban group, a day after the Times Square bombing suspect confessed to receiving training and financing from the terrorist outfit more... (D)


Sector Briefing

Ogra allows SSGC to pass on runaway expenses to consumers
The Oil and Gas Regulatory Authority (Ogra) has allowed Sui Southern Gas Company (SSGC) to place a burden of billions of rupees on consumers for runaway operating expenditures of the company by raising tariff more... (BR)

RBS deal: Faysal Bank seeks SBP's approval
Faysal Bank Limited (FABL) has approached the State Bank of Pakistan for No Objection Certificate (NOC) to acquire Royal Bank of Scotland Pakistan (RBS Pakistan) operation more... (BR)

Pakistan will not be a part of MSCI Index in 2011
MSCI has announced results of Annual Market Classification Review 2010 and in line with earlier expectations, Pakistan's progress since the downgrade to MSCI Frontier was appreciated; however it was not put under review for 2011 for potential reclassification to emerging markets, analysts 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.