July 12, 2010
KSE-100 Index
Previous Index 9,860.99
Current Index 9,974.40
Change % 1.15%
YTD (CY10) 6.26%
YTD (FY11) 2.60%

International Indicators
  Close %age
BSE-30 17,833.54 1.03%
HANGSENG 20,378.76 1.64%
NIKKEI 255 9,585.32 0.52%
FTSE 5,132.90 0.54%
DJIA 10,198.03 0.58%
SSEC 2,470.92 2.31%
NASDAQ 2,196.45 0.97%

July 08 , 2010 6.79
June, 2010 68.40
YTD (FY10) 7.04

Money Market Updates
6m T-bill 16-June-10 12.10%
12m T-bil 16-June-10 12.19%
3m KIBOR 12.26%
6m KIBOR 12.35%
10 yrs PIB 12.67%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 108.77
Rs/UK 129.94
Rs/US 85.73
Rs/OR 218.82

Oil $75.69/barrel
Oil Change in % (0.53)%
Gold $1,209.30/ounce
Gold Change in % (0.04)%

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 (July 02, 2010) $16.77bn
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 09, 2010
Funds Offer Redemption
POBOP 46.8320/- 46.3637/-
Daily Return 7.09%
POAIIF 50.7462/-   50.2387/-
Daily Return 8.79%
POAIF 53.66/- 52.32/-
Daily Return 161.16%
POASF 52.28/- 50.97/-
Daily Return 172.68%
POAF 11.1497/-
Daily Return 11.05%
*Daily Returns are calculated as per MUFAP guidelines

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

IMF team due next week for review
The Finance Minister said that IMF Mission Director for Pakistan was scheduled to visit the federal capital on July 18 more... (D)

Remittances hit record high at $8.9 billion
SBP reported that the country received $8.906 bn remittances which is the record amount ever remitted more... (D)

Banking transactions: FBR asked to offer clarification on 'deposit', 'transfer': experts
The Federal Board of Revenue has to clarify whether the cash 'deposit' in banks fall within the definition of 'transfer' as envisaged under section 231AA of the Income Tax Ordinance 2001. Tax experts told Business Recorder here on Saturday that the deposit of cash into a bank account, with or without transfer instruc more... (BR)



Transit of exports to India via Wahgah: Kabul sets condition for signing deal?
Afghanistan expects to sign a trade agreement with Pakistan this month in a move which could boost stability, but only if its neighbour drops opposition to transit traffic with India, business leaders said on Saturday more... (BR)

Govt wants case relating to action on NRO verdict deferred
Attorney-General Maulvi Anwarul Haq has filed a petition requesting the Supreme Court to delay the hearing, scheduled for Monday, of the more... (D)

Nawaz tries to hoodwink nation: Law Minister
The Federal Law Minister Babar Awan on Sunday said that PML-N Chief Nawaz Sharif had tried to hoodwink the nation but forgotten that camera's eye showed the true picture. He said that Sharif was trying to lay the blame of the media resolution on MPA Sanaullah Mastikhel instead of naming the real person who was actually responsible for creating the issue more... (BR)

Sector Briefing

Cash-strapped PSO seeks Rs 55 billion from Hubco, Kapco
With warning of serious fuel shortage, the cash-strapped Pakistan State Oil has sought Rs 55 billion from two major power generation companies - Hubco and Kapco - to bail itself out of financial crisis. The entity's banks overdraft may touch final limit of Rs 40 billion on July 19, Business Recorder has reliably learnt. According to financial capacity, PSO borrowing limit from banks is Rs 40 billion and its bank overdraft has reached around Rs 35 billion more... (BR)

Import of used cars: MoI&P fails to muster support from stakeholders
Ministry of Industries and Production (MoI&P) has reportedly failed to muster the requisite support from stakeholders to allow commercial import of used cars, due to concerted resistance by the auto industry, sources close to Secretary Industries told Business Recorder more... (BR)

SSGC initiates Rs 25 billion programme for controlling UFG
Sui Southern Gas Company (SSGC) has formally initiated Rs 25 billion five year programme for controlling the company's unaccounted for gas (UFG) or line losses. The World Bank will provide funding of $115 million for this project, out of which $105 million has been earmarked for gas pipeline and affiliated infrastructure improvement and $10 million for appliance efficiency pilot project 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


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.