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July 16, 2010
Statistics
KSE-100 Index
Previous Index 10,187.00
Current Index 10,095.80
Change % (0.90)%
YTD (CY10) 7.55%
YTD (FY11) 3.85%

International Indicators
  Close %age
BSE-30 17,909.46 (0.16)
HANGSENG 20,255.62 (1.50)
NIKKEI 255 9,685.53 (1.10)
FTSE 5,211.29 (0.80)
DJIA 10,359.31 (0.07)
SSEC 2,395.31 (3.26)
NASDAQ 2,249.08 (0.03)

SCRA
July 13 , 2010 0.78
June, 2010 68.40
YTD (FY10) 15.85

Money Market Updates
6m T-bill 14-Jul-10 12.3481%
12m T-bil 14-Jul-10 12.4568%
3m KIBOR 12.31%
6m KIBOR 12.40%
10 yrs PIB 13.01%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 109.23
Rs/UK 130.84
Rs/US 85.65
Rs/OR 220.78

Commodities
Oil $76.46/barrel
Change in % (0.53)%
Gold $1207.40/ounce
Change in % (0.31)%

Inflation
CPI Gen. - YoY (June-10) 12.7%
CPI Gen. - FY10 (Jul -09-June 10) 11.7%
NFNE Core INFL - YoY (June-10) 10.4%
NFNE Core INFL - FY10 (Jul-09-June-10) 11.0%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,051
Population 170.01mn
US$ Reserves (July 02, 2010) $16.63bn
Trade Balance (Jul-May 10) $(15.33)bn
Curr. A/C (Jul-May-10) $(2.98)bn
Remittances (Jul -June 10) $8.91bn
Foreign Investment (Jul -May-10) $1.89bn
All Sch. Banks Deposit Base (July 09, 2010) Rs4,675bn

NAVs and Returns
as of July 15, 2010
Funds Offer Redemption
POBOP 46.9625/- 46.4929 /-
Daily Return 7.15%
POAIIF 50.8146/-   50.3065 /-
Daily Return 7.60%
POAIF 53.74 /- 52.40 /-
Daily Return (255.92)%
POASF 52.41 /- 51.10 /-
Daily Return (241.25)%
POAF 11.0404 /-
Daily Return 0.03%
*Daily Returns are calculated as per MUFAP guidelines

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

SBP stamps gold as ‘liquid asset’
State Bank of Pakistan on Thursday included 'gold ornaments' and 'gold bullion' in the definition of 'Liquid Assets' in prudential regulations for consumer and SME financing more... (TFD)

FX reserves ease to $16.63 billion
Country's foreign exchange reserves eased to $16.63 billion in the week ending July 9, from a record $16.77 billion a week ago, the central bank said Thursday.
Reserves held by the State Bank of Pakistan (SBP) fell to $12.82 billion from $12.95 billion a week earlier, while those held by commercial banks eased to $3.81 million from $3.82 billion more... (TFD)

Delay in leverage product drags KSE down
The Karachi share market lost 91 points on Thursday as delay in approval of the new leverage product disappointed investors. The schedule of approval of the proposed leverage product suggesting long processes with salient features of the product unknown was disappointing more... (N)

 

 

 

Politics

Court’s final notice to MPA over ‘fake degree’
Justice Mamoon-ur-Rashid of the Lahore High Court on Thursday issued a final notice to PML-N MPA Muhammad Safdar Gill for September 29 as he was not appearing before the court in connection with a petition challenging his eligibility more... (N)

Link canal flowing into Punjab again
Sindh protests; 15,000 cusecs of water flows to Punjab. Qaim says no compromise on allocated water share. The Indus River System Authority (IRSA) Thursday has reopened the Chashma-Jhelum (C-J) Canal and 15,000 cusecs of water is being released in the canal and water is being provided to Punjab. ...
more... (TFD)

Warm-up talks go for fence mending
Pakistan and India Thursday talked about the revival of bilateral ties and reopening of the dialogue process with both the sides describing the discussions as meaningful and positive. Foreign ministers of both the sides spoke to the media following Indian External Affairs Minister S M Krishna's meetings with Pakistani leadership. more... (TFD)

 

 

 

Sector Briefing

FY10 oil, gas production up 1pc
Oil & gas production -- remained slightly up by 1 per cent -- stood at 715 thousand barrels of oil equivalent per day (kbpeod) during FY10. Oil production, declined by 1.4 per cent, stood at 65kbpd against 66kbpd during the same period last year more... (TFD)

Govt urged to inject Rs17.53bn to rescue sinking Pakistan Steel
The Industries and Production Ministry has asked the government to inject Rs17.53 billion in Pakistan Steel Mills, saying that the cash-strapped state-run institution stands at the verge of closure. The ministry has submitted a summary to the Economic Coordination Committee (ECC ) more... (N)

Govt sanctions Rs305m to KESC
The Finance Ministry has sanctioned two separate payments amounting to Rs305 million to Karachi Electric Supply Corporation (KESC) under the head of subsidy more... (N)

 

KSE Notices

Habib Bank Limited
Meeting of the Board of Directos of Habib Bank Limited is scheduled to be held on July 28,2010 in Aiglemont, France, at 09.15 am french time. more... (KSE)

Pangrio Sugar Mills Limited

Board of Directors meeting that was scheduled to be held on July 20, 2010 will now be held on July 19,2010. more... (KSE)

Sindh Abadgar's Sugar mills Limited

Meeting of the Board of Directos is scheduled to be held on Friday 23, 2010 at 4.00 pm, at their registered office. more... (KSE)

 

(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily, (KSE) Karachi Stock Exchange
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.