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Sep 16, 2010
 
Statistics
KSE-100 Index
Previous Index 10,091.25
Current Index 10,046.57
Change % 0.44%
YTD (CY10) 7.02%
YTD (FY11) 3.33%

International Indicators
  Close %age
BSE-30 19,536.87 0.98
HANGSENG 21,725.64 1.34
NIKKEI 255 9,516.56 2.30
FTSE 5,555.56 (0.20)
DJIA 10,572.73 0.44
SSEC 2,673.08 (2.49)
NASDAQ 2,301.32 0.50

SCRA
Sep 14, 2010 1.20
Sep, 2010 -50.13
YTD (FY10) 84.24

Money Market Updates
6m T-bill 08-Sep-10 12.52%
12m T-bil 08-Sep-10 12.66%
3m KIBOR 12.74%
6m KIBOR 12.89%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 111.41
PKR/GBP 133.04
PKR/USD 85.92
PKR/OMR 220.3

Commodities
Oil $76.21/barrel
Change in % -1.26
Gold $1268.30/ounce
Change in % 1.32

Inflation
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 170.45mn
US$ Reserves (Aug 27, 2010) $16.12bn
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 Sep 15, 2010
Funds Offer Redemption
POAIIF 51.4425/-  50.9281/-
Daily Return 7.97%
POAIF 53.96/- 52.61/-
Daily Return -27.73%
POASF 52.50/- 51.19/-
Daily Return 106.64%
POAF 11.13 /-
Daily Return 10.7%
*Daily Returns are calculated as per MUFAP guidelines

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

SECP approves concept of MTS: more risk mitigating measures added
The Securities and Exchange Commission of Pakistan (SECP) has approved the concept of Margin Trading System (MTS) with additional risk mitigating measures. The SECP has approved the concept of the MTS in a meeting held here on Wednesday at the commission. more... (BR)

IMF approves $451 million emergency funding
International Monetary Fund has approved $451m emergency funding for Pakistan for the reconstruction and rehabilitation of flood victims on late Wednesday. According to a private TV channel, IMF in a statement from New York has approved emergency funding of 451 million dollars. This amount will be used for reconstruction and rehabilitation of flood affected areas. more... (BR)


FBR has no power to impose 'flood tax'

The Federal Board of Revenue (FBR) has no constitutional authority to impose one-time 'flood tax' on urban property and agricultural land to generate additional revenue for the flood victims. It has been reported that the government is expected to impose one-time flood tax on urban property and agricultural land, not affected by flood. more... (BR)

 

 

 

 

 

 

 

Politics

Zardari, Karzai vow warmer ties
Afghan President meets Pakistani counterpart
Both leaders agree to fight terrorism together
ISLAMABAD: Pakistan and Afghanistan Wednesday reiterated their determination to raise bilateral ties in multi-level avenues including economy, trade, business, security and war against terrorism. more... (TFD)

Musharraf says he’s litigation-proofNo legal action could be taken against me in Pakistan, says former president
Political party to be launched on Oct 1
HONG KONG: Former Pakistani president Pervez Musharraf said that some political elements are opposing him and making false accusations, however no action would be taken against him on his return to the country because there is no case against him in the courts of Pakistan. more... (TFD)

SC summons NBP presidentEmployees’ over Rs6bn provident fund case
NBP presidentEmployees’ over Rs6bn provident fund case. The Supreme Court of Pakistan Wednesday directed President of National Bank of Pakistan, Syed Ali Raza, to appear before it on September 17 to explain why court orders were not implemented in the retired employees provident fund case. more... (D)

 

 

 

 

 

 

 

Sector Briefing

Locally produced motor gasoline: government urged to link price with actual import parity price
Oil refineries have urged the government to link price of locally produced motor gasoline with actual import parity price to secure them from losses in kind of price difference. more... (BR)

Country's refinery output declines by 28 percent in August 2010

The country's refinery production has declined by 28 percent in August 2010 as compared to previous month mainly due to production stoppage at Parco after floods devastated the transportation network in the surrounding region. According to provisional figures, the refinery production in the first two months of FY11 witnessed a decline of 18 percent as compared to the same period of previous fiscal year. more... (BR)


Indian move causes panic buying of cotton; rates rise, may go up further

Panic buying of cotton and high rise in the rates were seen on the cotton market on Wednesday as India has extended date for registration for cotton exports, dealers said. The Karachi Cotton Association (KCA) official spot rate was maintained its upward move for the second day in a row, picking up Rs 150 to Rs 6,700, they said. more... (BR)

 

KSE Notices
 
 

Attock Refinery Limited
The meeting of Board of Directors will be held on Sep 29, 2010 in Syria to consider and approve the annual accounts for June 30, 2010. 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.