July 06, 2010
KSE-100 Index
Previous Index 9,697.65
Current Index 9,637.97
Change % (0.62)%
YTD (CY10) 2.67%
YTD (FY11) (0.86)%

International Indicators
  Close %age
BSE-30 17,441.44 (0.11)%
HANGSENG 19,842.20 (0.32)%
NIKKEI 255 9,266.78 0.70%
FTSE 4,823.53 (0.30)%
DJIA 9,686.48 (0.47)%
SSEC 2,363.95 (0.80)%
NASDAQ 2,091.79 (0.46)%

July 02 , 2010 2.73
June, 2010 68.40
YTD (FY10) 568.87

Money Market Updates
6m T-bill 16-June-10 12.10%
12m T-bil 16-June-10 12.19%
3m KIBOR 12.25%
6m KIBOR 12.35%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 107.21
Rs/UK 129.78
Rs/US 85.53
Rs/OR 217.88

Oil $71.63/barrel
Oil Change in % (0.71)%
Gold $1,206.80/ounce
Gold Change in % (0.07)%

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-

Revision of tax collection target tied to economy
Any downward revision in the revenue collection target of Rs 1,667 billion for 2010-11 depends on the overall performance of the economy enormously tied to the law and order situation during the first two quarters of 2010-11. Sources told Business Recorder on Monday that the provisional revenue collection has reached Rs 1311 billion by leaving no stone unturned during 2009-10 against the annual target of Rs 1380 billion, reflecting a shortfall of Rs 69 billion more... (BR)

ADB likely to release $200 million for infrastructure project
The bank had approved $400 million for the programme to increase private participation in infrastructure development more... (D)

Applicability of CGT on bourses: body comprising taxmen, top brokers formed
The Federal Board of Revenue (FBR) has constituted a high level committee comprising senior brokers of Karachi Stock Exchange (KSE) and tax officials to finalise rules on the applicability of the capital gains tax (CGT) on stock exchanges more... (BR)



India's nuclear ambition runs up against China's
A 2008 civilian nuclear energy pact between the United States and India was meant to lift a 34-year-old embargo on nuclear trade despite New Delhi's longstanding weapons programme, a move seen as bolstering it as a counterweight to China. It was also aimed at unlocking the energy-starved country's nuclear industry market, estimated at $150 billion, at a time when nuclear power is undergoing a nascent renaissance world-wide as a more environment-friendly alternative to fossil fuels more... (BR)

Kandahar is key to victory in Afghan war: McCain
‘‘But we must not tell the enemy that we will begin leaving when we have not finished the job,’’ the US senator said more... (D)

MPs holding fake degrees may face criminal trial
The Election Commission is pondering over whether it could invoke the Pakistan Penal Code to initiate criminal proceedings against lawmakers who are proven guilty of having fake degrees more... (D)

Sector Briefing

Volume sinks to over 18-month low
Trading activity at the Karachi share market on Monday drastically declined to only 14.711 million shares, lowest since December 15, 2008 due to investors concerns over the imposition of capital gains tax, analysts said. Although the market opened on a positive note and the KSE-100 index hit 9,726.80 points intra-day high. However, the momentum could not continue due to selling by local investors and the index slipped into negative zone more... (BR)

Citibank limits its operations in Pakistan: Usmani
Citibank Pakistan's Managing Director Arif Usmani on Monday said the bank has only limited its operation in Pakistan and there is no plan to wind up completely. "It's a wrong perception that Citibank is winding up its operation in Pakistan, we are committed, we are here and we will be here," he told newsmen after a press conference along with Citi's Global Director of Microfinance and Community Development Robert Annibale more... (BR)

NITL declares payouts for all of its funds
The National Investment Trust Limited (NITL) on Monday declared payouts for all funds under its management for the fiscal year that ended on 30th June 2010 (FY10). After an approval from the board of directors, the Managing Director (MD) NITL Wazir Ali Khoja, unveiled the following details 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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