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Oct 01, 2010
 
Statistics
KSE-100 Index
Previous Index 10,022.25
Current Index 9,934.04
Change % -0.88%
YTD (CY10) 5.82%
YTD (FY11) 2.18%

International Indicators
  Close %age
BSE-30 20,069.12 0.57
HANGSENG 22,358.17 (0.09)
NIKKEI 255 9,369.35 (2.00)
FTSE 5,548.62 (0.40)
DJIA 10,788.05 (0.44)
SSEC 2,655.66 1.72
NASDAQ 2,368.62 (0.33)

SCRA
Sep 29, 2010 0.13
Sep, 2010 -40.37
YTD (FY10) 84.24

Money Market Updates
6m T-bill 22-Sep-10 12.8464%
12m T-bil 22-Sep-10 12.7873%
3m KIBOR 13.09%
6m KIBOR 13.27%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 117.21
PKR/GBP 136.51
PKR/USD 86.2
PKR/OMR 221.73

Commodities
Oil $80.31/barrel
Change in % 3.41
Gold $1311.3/ounce
Change in % 0.15

Inflation
CPI Gen. - YoY (Aug-10) 13.2%
CPI Gen. - FY11 (Jul 10) 12.34%
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 (Sep 27, 2010) $16.632bn
Trade Balance Aug $(1.24)bn
Curr. A/C (Jul-Jun-10) $(635)bn
Remittances (Aug 10) $933.06mn
Foreign Investment (Jul 10) $144.80mn
All Sch. Banks Deposit Base (Aug 13, 2010) Rs653.42bn

NAVs and Returns
as of Sep 29, 2010
Funds Offer Redemption
POAIIF 51.6038/-  51.0878/-
Daily Return 10.44%
POAIF 53.54/- 52.20/-
Daily Return -90.67%
POASF 51.89/- 50.59/-
Daily Return -208.04%
POAF 10.20 /-
Daily Return 41.00%
*Daily Returns are calculated as per MUFAP guidelines

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

Seven percent increase in power tariff likely
The government is expected to announce increase in power tariff by 7 percent on Friday (today) as per the agreement with international financial institutions. "I have been told that the decision regarding 7 percent increase will the taken today," said an official of the Water and Power Ministry while talking to Business Recorder. more... (BR)

Banks can turn flood crisis into an opportunity, SBP head says
Shahid H Kardar, Governor State Bank of Pakistan has said that the recent floods provide an opportunity for the banking industry to increase financial inclusion, diversify its products on sustainable basis and play its due role in rebuilding the national economy. more... (TFD)

PTEA for continuation of zero-rated ST facility on exports
Continuation of zero rated sales tax facility on exports and emergent release of outstanding refund amounts will be treated on top priority to enable the textile exporters to retain their hard won export markets at this time of severe international recession and tough competition in international markets. more... (BR)

 

 

 

 

 

 

 

 

Politics

Violation of sovereignty unacceptable: President
President Asif Ali Zardari on Thursday said the Government of Pakistan strongly disapproves any incident of violation of its sovereignty. Any violation of internationally agreed principles is counter productive and unacceptable, he remarked. more... (BR)

Babri Mosque site trifurcated
In one of the longest-awaited and most controversial judgments in India’s history, the Lucknow bench of the Allahabad High Court decided against the claim by the Muslim community that they should be allowed to rebuild a 16th century mosque demolished by a mob of Hindu extremists in 1992. The site of the mosque would be split between two Hindu groups and one Muslim group, the judges said. The 2,000-page ruling ordered that status quo at the religious compound in Ayodhya at the centre of the dispute – currently under state control – would be maintained for three months. more... (TFD)

Pakistan halts Nato supplies after killing of three soldiers
Pakistani authorities blocked a vital supply route for Nato troops fighting in Afghanistan on Thursday after the killing of three soldiers in two Nato cross-border incursions, officials said. Trucks and fuel tankers for foreign forces in Afghanistan were stopped at the Torkham border post in the Khyber tribal region near the city of Peshawar, hours after the raid. more... (BR)

 

 

 

 

 

 

 

Sector Briefing

Petrol prices reduced nominally
The Pakistan Electric Power Company (Pepco) is reportedly charging 25 percent higher tariff from agriculture consumers for the last several months, on verbal instructions from Finance Ministry, official sources told Business Recorder. more... (BR)

Spot rate falls on cotton market

Official spot rate fell on the cotton market on Thursday, as a result of modest improvement in supplies of phutti, dealers said. The Karachi Cotton Association (KCA) official spot rate dropped sharply at Rs 7,050; they said. In the ready business, around 20,000 bales of cotton changed hands between Rs 6,700-7,100; they said. more... (BR)

Government decides to restrict public sector wheat procurement

Government has decided to restrict wheat procurement to the public sector in an effort to build strategic reserves at an indicative issue price of Rs 975 per 40 kg for the year 2010-11. Sources revealed to Business Recorder that the Economic Co-ordination Committee (ECC) of the Cabinet in its meeting held on September 21, 2010, had constituted a high level committee to review the existing purchase policy of wheat and in the next meeting it recommended restricting wheat purchase for maintaining strategic reserves to the public sector. more... (BR)

 

KSE Notices
 
 

Sui Southern Gas Company Limited
The Board of Directors in the meeting held on Sep 30, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported PAT:PKR4.399bn EPS of 6.55 Cash dividend PKR 1.5/share. more... (KSE)

Pakistan Oilfeilds Limited
The Board of Directors in the meeting held on Sep 30, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported PAT:PKR7.44bn EPS of 31.44 Cash dividend PKR 17.5. 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.