Aug 24, 2010
KSE-100 Index
Previous Index 9,860.36
Current Index 9,812.10
Change % (0.49)%
YTD (CY10) 4.53%
YTD (FY11) 0.93%

International Indicators
  Close %age
BSE-30 18,409.35 0.04
HANGSENG 20,889.01 (0.44)
NIKKEI 255 9,116.69 (0.70)
FTSE 5,234.84 0.80
DJIA 10,174.41 (0.38)
SSEC 2,664.07 (3.85)
NASDAQ 2,159.63 (0.92)

August 19, 2010 0.68
August, 2010 40.90
YTD (FY10) 78.08

Money Market Updates
6m T-bill 11-Aug-10 12.65%
12m T-bil 11-Aug-10 12.78%
3m KIBOR 12.70%
6m KIBOR 12.85%
10 yrs PIB 13.20%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 109.2
PKR/GBP 133.69
PKR/USD 85.85
PKR/OMR 221.82

Oil $72.85/barrel
Change in % -2.00
Gold $1,222.90/ounce
Change in % -0.90

CPI Gen. - YoY (Jul-10) 12.34%
CPI Gen. - FY11 (Jul 10) 13.34%
NFNE Core INFL - YoY (Jul-10) 10.3%
NFNE Core INFL - FY11 (Jul-10) 10.3%

Economic Indicators
GDP Growth FY10E 4.10 %
Per Capita Income $ 1,051
Population 170.31mn
US$ Reserves (Aug 13, 2010) $16.29bn
Trade Balance (Jul-Jun 10) $(1.45)bn
Curr. A/C (Jul-Jun-10) $(635)bn
Remittances (Jul 10) $791.18bn
Foreign Investment (Jul 10) $144.80mn
All Sch. Banks Deposit Base (Aug 13, 2010) Rs4,582bn

NAVs and Returns
as of August 20, 2010
Funds Offer Redemption
POAIIF 51.1996/-  50.6876/-
Daily Return 7.80%
POAIF 53.55/- 52.21/-
Daily Return (41.80)%
POASF 52.41/- 51.10/-
Daily Return (37.98)%
POAF 11.03 /-
Daily Return (92.04)%
*Daily Returns are calculated as per MUFAP guidelines

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

Crops over 4.25 million acres destroyed
Floods have destroyed or extensively damaged crops over 4.25 million acres (1.72 million hectares) of land, Food Minister Nazar Muhammad Gondal said on Monday. The total areas under cultivation is about 23 million hectares, food ministry officials say. "The floods have destroyed or extensively damaged crops, including cotton, rice, sugarcane, maize and others over an area of 4.25 million acres," he told Reuters. more... (BR)

IMF begins talks with Pakistan over flood relief

Officials from the IMF and Pakistan held talks Monday amid reports that the flood-battered country was asking the fund to ease terms of a nearly 11-billion-dollar loan. "I can confirm the meeting," one official said but declined to elaborate on the specifics of the discussions at the Washington-based International Monetary Fund headquarters. more... (BR)

FBR may reduce CGT target
The Federal Board of Revenue (FBR) is likely to revise downward the projected target of Rs 5 billion capital gain tax (CGT) on sale of stocks/shares/securities during 2010-11, keeping in low buying/selling volumes at the stock exchanges and other economic indicators. more... (BR)







Altaf’s ‘bold call’ gets mixed critique
PM Gilani refutes any extra-constitutional step Pagara, Imran put their weight behind Altaf 'N' to submit privilege motion against MQM: Nisar Special Correspondent / Agencies more... (TFD)

President Zardari defends gov't flood response
Pakistan's president defended the government's much-criticized response to the country's record-breaking flood crisis as emergency workers worked frantically to shore up a system of levees protecting two southern cities. more... (D)

Damage caused by floods: economists dispute government claim over GDP dip, inflation rise

The accurate extent of flood damage would be known only after completion of the 'Damaged Need Assessment' (DNA), probably by November, 2010, sources said. Economists dispute the claim of Ministry of Finance that floods would bring the GDP growth rate to zero, and inflation would go up by 25 percent in the current fiscal year. more... (BR)






Sector Briefing

Floods inflict Rs 2.9 billion loss on PSO
The Pakistan State Oil (PSO) has suffered a loss of Rs 2.9 billion due to damage to infrastructure caused by devastating floods triggered by monsoon rains, said a presentation submitted to World Bank. The loss to Mahmood Kot installation has been estimated at around Rs 42 million. This is joint installation of the oil marketing companies (OMCs) connected with white oil pipeline and Parco refinery. more... (BR)

Lint prices recover as firm trend obtains on cotton market
Steadier trend was seen on the cotton market on Monday as mills continued massive buying to cover the short-term and forward needs as well, due to apprehended uncertainties after floods, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 6,300, they said. more... (BR)

Europe, Mediterranean, Gulf, Far East routes: Indian shipping line to begin operations from Pakistan
For the first time in the history of Indo-Pak relations the Indian national flag carrier would start container shipping services from Pakistan from next month. The Shipping Corporation of India (SCI) has added Pakistan to its global network and would be commencing its container services from the neighbouring country to regions like Europe, Mediterranean, Gulf, Far East and India. more... (BR)


KSE Notices

Packages Limited - Financial Results for the Half Year Ended JUne 30, 2010
Board of Directors announces the financial results for the half year ended June 30, 2010 for Packages Limited. PAT: PKR278.75mn EPS:3.30 more... (KSE)

Maple Leaf Cement Factory Limited

Acquisition of 153.846mn ordinary shares of Maple Leaf Cement Factory Limited by Kohinoor Textile Mills Limited. more... (KSE)



(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.