BasedLine
LOGO
July 08, 2010
Statistics
KSE-100 Index
Previous Index 9,575.20
Current Index 9,789.69
Change % 2.24%
YTD (CY10) 4.29%
YTD (FY11) 0.70%

International Indicators
  Close %age
BSE-30 17,471.03 (0.81)%
HANGSENG 19,857.10 (1.10)%
NIKKEI 255 9,279.65 (0.60)%
FTSE 5,014.82 1.00%
DJIA 10,018.28 2.82%
SSEC 2,421.12 0.49%
NASDAQ 2,159.47 3.13%

SCRA
July 06 , 2010 (2.71)
June, 2010 68.40
YTD (FY10) 0.02

Money Market Updates
6m T-bill 16-June-10 12.10%
12m T-bil 16-June-10 12.19%
3m KIBOR 12.27%
6m KIBOR 12.35%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 107.97
Rs/UK 129.70
Rs/US 85.69
Rs/OR 220.14

Commodities
Oil $74.56/barrel
Oil Change in % 0.66%
Gold $1,205.70/ounce
Gold Change in % 0.57%

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 (July 02, 2010) Rs4,775bn

NAVs and Returns
as of July 07, 2010
Funds Offer Redemption
POBOP 47.0855/- 46.6146/-
7 Day Return (53.48)%
POAIIF 50.7226/-   50.2154/-
7 Day Return 8.65%
POAIF 53.21/- 51.88/-
7 Day Return 23.89%
POASF 51.83/- 50.53/-
7 Day Return 29.05%
POAF 11.1434/-
7 Day Return 14.39%
*Daily Returns are calculated as per MUFAP guidelines

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

Fiscal deficit balloons to Rs870 billion
The country’s fiscal deficit for the just concluded fiscal year has provisionally been estimated at more than 5.8 per cent mainly because of more... (D)

ADB considering to provide $100 million for Uch-II Power Project
Asian Development Bank is considering to provide $100 million for Uch-II Power Project. According to an update project report of Asian Development Bank said that the project will be developed under the 2002 Power Policy and will be undertaken according to a 25-year Build, Own, and Operate (BOO) structure more... (BR)

China pledges 50 million yuan grant: agreement signed on economic cooperation
Pakistan and China on Wednesday reaffirmed at the highest level to strengthen strategic relationship between the two countries, increase the level of economic co-operation by an order of magnitude and take concrete measures to further bring their peoples closer more... (BR)

 

Politics

‘Mini-revolt' brewing in NAB
Some high-ranking officials on the government’s ‘hit-list’ have decided to resist Islamabad’s efforts to take control of NAB more... (D)

Indian goods: transit facility key part of talks, says Zakhilwal
Hazrat Omar Zakhilwal, Afghan Finance Minister said on Wednesday that the transit facility for Indian goods via Pakistan land route to Afghanistan through Wahgah road link is an important part of the negotiations under proposed Afghanistan Pakistan Transit Trade Agreement (APTTA). The issue of transit to Indian goods to Afghanistan via Wagha border would be further discussed between the two sides in next 2-3 weeks more... (BR)

India concerned over Sino-Pak rail link
India on Wednesday expressed "concern" over China's plans to have a rail link with Pakistan through the Karakoram ranges. "It is definitely a matter of concern. But we are taking our counter measures and we are doing our own preparation," Minister of State for Defence M M Pallam Raju told reporters here. Raju said both China and Pakistan had made it "very apparent" that they were "working closely together and co-operating closely" on defence and strategic issues more... (BR)


Sector Briefing

Gas discovered in Sujawal block
Mari Gas Company Limited (MGCL), a petroleum exploration and production company, has made a significant gas / condensate discovery with its tested maximum flow rate of 11.5 MMSCFD in Sujawal X-1 in the Sujawal Exploration Block located in Sindh. This success of the Sujawal Block will be addition of an indigenous source to nation's gas reserve base, which would result in saving of foreign exchange more... (BR)

OMCs told to report their sales to PSO, Shell and Chevron: refineries accused of aiding in misdeclaration
Oil and Gas Regulatory Authority (Ogra) on Wednesday tasked three major Oil Marketing Companies (OMCs) - PSO, Shell and Chevron - to physically inspect fuel supply at different depots after alleged involvement of certain OMCs, backed by refineries, in misdeclaring the sale of petroleum products, Business Recorder has reliably learnt more... (BR)

Car makers fail to persuade minister to do their job
Minister for Industries and Production, Mir Hazar Khan Bijarani, is said to have expressed his inability to play any role in blocking the government's move to 'force' a reduction in car prices, sources close to Secretary Industries told Business Recorder. Some car manufactures reportedly arrived at the Industries Minister's Karachi residence on Tuesday 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.