BasedLine
LOGO
Oct 06, 2010
 
Statistics
KSE-100 Index
Previous Index 10,045.03
Current Index 10,024.86
Change % (0.20)%
YTD (CY10) 6.79%
YTD (FY11) 3.11%

International Indicators
  Close %age
BSE-30 20,407.71 (0.33)
HANGSENG 22,639.14 0.10
NIKKEI 255 9,518.76 1.50
FTSE 5,635.76 1.40
DJIA 10,944.72 1.80
SSEC 2,655.66 1.72
NASDAQ 2,399.83 2.36

SCRA
Oct 4 , 2010 0.24
Oct, 2010 2.58
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 13.05%
6m KIBOR 13.20%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 117.77
PKR/GBP 136.44
PKR/USD 86.25
PKR/OMR 221.73

Commodities
Oil $82.89/barrel
Change in % 1.72
Gold $1349.5/ounce
Change in % 2.75

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 Oct 5, 2010
Funds Offer Redemption
POAIIF 51.0572 50.5466
Daily Return -
POAIF 51.94/- 50.64/-
Daily Return 21.64%
POASF 51.19/- 49.91/-
Daily Return -65.70%
POAF 10.08/-
Daily Return 844.44%
*Daily Returns are calculated as per MUFAP guidelines

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

State Bank tightens banks ratings criteria
Pakistan’s central bank has tightened ratings criteria for all banks and development finance institutions for better disclosure. The banks could only use solicited ratings, for capital adequacy, given by recognised external credit assessment institutions, a statement said on Tuesday. more... (N)

Concerted efforts required to overcome circular debt
Karachi Electric Supply Company (KESC) strongly rebuts the recent news release and advertisement issued by SSGC to the media which is primarily based on factual inaccuracies. In the first place it is necessary to clarify the impression that KESC is not making any payments against its gas purchases. more... (BR)

AEDB asked to process EOBI's two wind energy power projects
The Minister for Water and Power, Pervez Ashraf, has asked the Alternative Energy Development Board (AEDB) to immediately process the proposals of Employees Oldage Benefit Institution (EOBI) for setting up of 200 to 500 MW wind energy project in the country. He said this while presiding over the inter-ministerial meeting for setting up of wind energy project with local manufacturing. more... (BR)

 

 

 

 

 

 

 

Politics

Musharraf admits to training militants
Former president Pervez Musharraf has told a German magazine that his forces trained militant groups to fight in Indian-held Kashmir. He told the Der Spiegel the Nawaz Sharif government turned a blind eye because it wanted to put pressure on India to enter talks. more... (D)

Bench-bar row ends as judge sent on leave
Finally the row between the bar and the bench ended on Tuesday after Lahore High Court (LHC) Chief Justice Khwaja Muhammad Sharif sent Lahore District and Sessions Judge (D&SJ) Zawwar Ahmad Sheikh on four months leave, and the judicial officers withdrew their resignations after holding a meeting with Justice Khwaja. more... (N)


Gilani orders completion of devolution process
The nine-member Parliamentary Implementation Commission on 18th Amendment resolved on Tuesday that the deadline of June 30, 2011, for completion of the devolution process would be met at all costs. A meeting of the commission, presided over by Prime Minister Yousuf Raza Gilani at his Parliament House chamber, reviewed the process of devolution of powers following the abolition of the Concurrent List. more... (D)

 

 

 

 

 

 

 

Sector Briefing

UFG benchmark for SSGC raised to seven percent
The Oil and Gas Regulatory Authority (Ogra) has increased the benchmark for calculating Unaccounted for Gas (UFG) for Sui Southern Gas Company (SSGC) to 7 percent from the current year target of five percent, it is reliably learnt. After hearing the SSGC petition the regulator gave relaxation of two percent. An official notification is expected to be issued soon, sources said. more... (BR)

Petroleum, Natural resources National Assembly body sub-committee to meet today

The sub-committee of National Assembly Standing Committee on Petroleum and Natural Resources is scheduled to meet on Wednesday (today) to probe the agreement between Jamshoro Joint Venture Limited (JJVL) and Sui Southern Gas Company (SSGC). The sub committee is working on LPG issues for the last two years and will submit its report to National Assembly Standing Committee on Petroleum to be laid in parliament. more... (BR)

Amendment to empower Nepra to impose tariff

The proposed amendment to the National Electric Power Regulatory Authority (Nepra) will lead to monthly adjustments in consumer-end electricity tariff which will stand automatically implemented soon after the determination by the regulator. more... (D)

 

KSE Notices
 
 

B.R.R Guardian Modaraba
The Board of Directors in the meeting held on Oct 4, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported LAT:PKR161.23mn LPS 2.07. 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.