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July 02, 2010
Statistics
KSE-100 Index
Previous Index 9,721.91
Current Index 9,730.99
Change % 0.09%
YTD (CY10) 3.67%
YTD (FY11) 0.09%

International Indicators
  Close %age
BSE-30 17,509.33 (1.10)%
HANGSENG 20,128.99 (0.59)%
NIKKEI 255 9,191.60 (2.00)%
FTSE 4,805.75 (2.30)%
DJIA 9,732.53 (0.42)%
SSEC 2,373.79 (1.02)%
NASDAQ 2,101.36 (0.37)%

SCRA
June 30 , 2010 27.23
June, 2010 68.40
YTD 568.87

Money Market Updates
6m T-bill 16-June-10 12.10%
12m T-bil 16-June-10 12.19%
3m KIBOR 12.29%
6m KIBOR 12.37%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 104.58
Rs/UK 128.96
Rs/US 85.57
Rs/OR 219.82

Commodities
Oil $73.24/barrel
Oil Change in % 0.40%
Gold $1,207.90/ounce
Gold Change in % 0.10%

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 25, 2010) $15.83bn
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 25, 2010) Rs4,661bn

NAVs and Returns
as of June 30, 2010
Funds Offer Redemption
POBOP 47.7816/- 47.3038/-
Daily Return (70.93)%
POAIIF 53.4703/-   52.9356/-
Daily Return (99.99)%
POAIF 54.12/- 52.77/-
Daily Return (117.21)%
POASF 51.54/- 50.25/-
Daily Return 21.80%
POAF 11.1147/-
Daily Return 5.05%
*Daily Returns are calculated as per MUFAP guidelines

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

Petroleum prices, LNG contracts, import of used vehicles: key proposals deferred by ECC
The Economic Co-ordination Committee (ECC) of the Cabinet deferred the proposals for
deregulation of petroleum products' prices and approval of LNG import contracts as well as import of used vehicles on commercial basis more... (BR)

Zero borrowing, NDA and NFA targets: Pakistan meets three IMF conditions
The country has successfully achieved the IMF's three primary targets - zero budgetary
borrowing, Net Domestic Assets (NDA) and Net Foreign Assets (NFA) set for the quarter ending June 30, 2010 more... (BR)

Pakistan’s forex reserves edge up to $15.83 bn
Reserves held by the SBP edged up to $12.06 billion from $12.01 billion a week earlier more... (D)

High dollar inflows: rupee resisted sharp fall against dollar in 2009-10

The rupee somehow managed to restrict drastic cut against dollar during the 2009-10 fiscal year mainly because of healthier trend in remittances, loans and donations by the International Monetary Fund (IMF), the World Bank, and other friendly countries and organisations more... (BR)


Politics

Kayani denies Karzai, Haqqani secret meeting
Afghan President Hamid Karzai and a senior al Qaeda-linked militant. Kayani's brief statement came days after a media report claimed that he and the head of Pakistani intelligence services facilitated a meeting between Karzai and Sirajuddin Haqqani, who heads the Haqqani network more... (BR)

IAEA may inspect Pak-China nuclear deal: FM Qureshi
Foreign Minister Shah Mehmood Qureshi on Thursday said the IAEA can inspect the nuclear deal between Pakistan and China more... (D)

US sees Afghan role for both India and Pakistan
A senior US official on Thursday offered strong support for India's involvement in Afghanistan and voiced hope that the two countries can work together with Pakistan. Pakistan is deeply suspicious of its historic rival India's role in Afghanistan, where New Delhi has provided 1.2 billion dollars in aid since a US-led campaign ousted the Taliban regime in 2001 more... (BR)


Sector Briefing

Etisalat seeks PakTel deal discount
Etisalat wants outstanding land sales in its buy of Pakistan Telecommunications Co deducted from the deal value, a letter to the Pakistan government seen by Reuters showed, although an official rebuffed the idea. United Arab Emirates-based telco Etisalat has been locked in a dispute over the $2.6 billion buy of a 26-percent stake in the Pakistani firm since 2006, due to complications over land sales linked to the deal more... (BR)

PSO pays Rs 4.449 billion to oil refineries
The cash strapped state run Pakistan State Oil (PSO) has paid Rs 4.449 billion to oil refineries on account of fuel supply, Business Recorder has learnt. PSO paid Rs 2.5 billion to Parco, Rs 1.502 billion to PRL and Rs 497 million to ARL. Due to rising receivables of PSO against different clients, PSO is yet to pay Rs 77.5 billion to oil refineries 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

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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.