July 26, 2010
KSE-100 Index
Previous Index 10,228.86
Current Index 10,296.04
Change % 0.66%
YTD (CY10) 9.68%
YTD (FY11) 5.91%

International Indicators
  Close %age
BSE-30 18,130.98 0.10
HANGSENG 20,815.33 1.10
NIKKEI 255 9,430.96 2.30
FTSE 5,312.62 (0.09)
DJIA 10,424.62 0.99
SSEC 2,559.59 (0.49)
NASDAQ 2,269.47 1.05

July 22, 2010 3.13
June, 2010 68.40
YTD (FY10) 25.13

Money Market Updates
6m T-bill 14-Jul-10 12.32%
12m T-bil 14-Jul-10 12.44%
3m KIBOR 12.31%
6m KIBOR 12.39%
10 yrs PIB 12.97%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 110.31
PKR/GBP 130.83
PKR/USD 85.60
PKR/OMR 221.25

Oil $79.22/barrel
Change in % 0.14%
Gold $1192.90/ounce
Change in % (0.19)

CPI Gen. - YoY (Jun-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 170.09mn
US$ Reserves (July 22, 2010) $16.70bn
Trade Balance (Jul-Jun 10) $(15.33)bn
Curr. A/C (Jul-Jun-10) $(3.51)bn
Remittances (Jul -June 10) $8.91bn
Foreign Investment (Jul -Jun-10) $2.14bn
All Sch. Banks Deposit Base (July 16, 2010) Rs4,668bn

NAVs and Returns
as of July 23, 2010
Funds Offer Redemption
POBOP 46.8968/- 46.4278/-
Daily Return 9.37%
POAIIF 50.8960/-   50.3870/-
Daily Return 7.59%
POAIF 54.30/- 52.94/-
Daily Return (6.89%)
POASF 53.02/- 51.69/-
Daily Return (35.27%)
POAF 11.0550 /-
Daily Return 11.51%
*Daily Returns are calculated as per MUFAP guidelines

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

Revenue collection target not revised
Ministry of Finance has not revised the ambitious revenue collection target of Rs 1,667 billion for the Federal Board of Revenue (FBR), as the tax authorities have dispatched an annual collection plan (2010-2011) to the concerned FBR members for meeting the monthly and quarterly targets set for current fiscal under the new strategy to focus on priority areas including new registrations with the income tax and sales tax departments more... (BR)

Presidential order soon on GST collection
The government has decided to issue a presidential order in a few days to continue collection of sales tax on major services in the central excise mode in the federal domain for the first three months (July-Sept) of the current fiscal year more... (BR)

FY10 NSS deposits decrease 16pc YoY
Investment in National Savings Schemes (NSS) saw a decline of 15.9 per cent or Rs42.45 billion YoY with an inflow of Rs224.76 billion during last fiscal year 2009-10 against Rs267.22 billion investment in FY09; however, Rs219 billion target set for last fiscal year has been achieved more... (TFD)








18 AJK ministers submit resignations
Eighteen minister of Azad Kashmir have handed over their resignations to their party head Sardar Atique Ahmed which were later sent to the Prime Minister Secretariat.
Spokesman of Muslim League Conference said those who handed over resignations include Abdul Qayum Niazi, Col (Retd.) Nasim, Ali Shan Soni, Chaudhry Ismail, Najeeb Naqi, Chaudhry Yousuf, Sayab Khalid, Abdul Rashid Abbasi, Hafiz Hamid Raza, Ghulam Murtaza Gilani, Nasreen Mazhar, Shamim Ali, Malik Muhammad Nawaz, Shafiq Jaraal, Naheed Tariq, Farooq Tahir and Pir Atiq-ur Rehman more... (TFD)

Taliban claim responsibility for killing minister’s son
The proscribed Tehrik-i-Taliban Pakistan (TTP) has claimed responsibility for the killing of Mian Rashid Hussain, the only son of Khyber Pakhtunkhwa Information Minister Mian Iftikhar Hussain more... (D)

Kayani's extension: consultation with political parties not needed: Prime Minister
Terming the extension in the service of General Ashfaq Parvez Kayani as purely an administrative affair, Prime Minister (PM) Yousuf Raza Gilani on Sunday said consultation with political parties regarding the extension in Kayani's service was not needed. more... (BR)




Sector Briefing

BP chief likely to resign in wake of US oil spill
The chief executive of British oil giant BP, Tony Hayward, was likely to resign within the next 24 hours in the aftermath of the catastrophic Gulf of Mexico oil spill, the BBC reported more... (BR)

OGDCL may undertake overseas projects

Oil and Gas Development Company Limited (OGDCL) may take part in overseas exploration projects with two foreign oil and gas exploration companies - Italian based ENI and Statoil Company Norway more...(BR)

Futures open interest up by 3.5 percent
Total open interest position at the futures counter increased by 3.5 percent on week-on-week basis to Rs 1.08 billion. The future spreads enhanced by 2.47 percent during the week. However, trading activities at the counter remained low, as the average daily volumes declined by 18 percent on weekly basis to 3.11 million shares more... (BR)


KSE Notices

Honda Atlas Cars (Pakistan) Limited
Financial Results for the 1st Quarter ended June 30, 2010 have been announced. LAT:PKR(100.88mn) LPS:PKR(0.71) more... (KSE)

Engro Polymer & Chemicals Limited
Financial Results for the Half-year ended June 30, 2010 have been announced. LAT:PKR(292.09mn) more... (KSE)

Meezan Bank Limited
Meeting of the Board of Directors will be held in Karachi on Aug 2, 2010 more... (KSE)

ABL Asset Management Company Limited
ABL Income Fund announced the final dividend distribution of PKR0.2421 per unit for the year ended Jun 30, 2010 more... (KSE)

Arif Habib Investment
Pakistan Cash Management Fund of Arif Habib Investments announced a bonus of PKR0.35 per unit and investors holding 100 units as of Jul 25, 2010 will get PKR0.6997 on ex-bonus price of PKR50.0216 per unit. more... (KSE)

Fauji Fert. Bin Qasim
The meeting of Board of Directors will be held on July 27, 2010.

Habib Bank Limited
The meeting of Board of Directors will be held on July 28, 2010.

Engro Corporation
The meeting of Board of Directors will be held on July 28, 2010.


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