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Oct 08, 2010
 
Statistics
KSE-100 Index
Previous Index 10,029.36
Current Index 10,191.68
Change % 1.62%
YTD (CY10) 8.57%
YTD (FY11) 4.83%

International Indicators
  Close %age
BSE-30 21,206.77 1.10
HANGSENG 22,884.30 0.01
NIKKEI 255 9,684.81 (0.10)
FTSE 5,662.13 (0.30)
DJIA 10,948.58 0.17
SSEC 2,655.66 1.72
NASDAQ 2,383.67 0.13

SCRA
Oct 6 , 2010 -0.68
Oct, 2010 -3.36
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 13.00%
6m KIBOR 13.21%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 119.76
PKR/GBP 136.48
PKR/USD 86.05
PKR/OMR 221.25

Commodities
Oil $81.64/barrel
Change in % -2.16
Gold $1335.5/ounce
Change in % -1.36

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 7, 2010
Funds Offer Redemption
POAIIF 51.0677/- 50.5708/-
Daily Return 10.47%
POAIF 52.90/- 51.58/-
Daily Return 531.27%
POASF 52.22/- 50.91/-
Daily Return 575.32%
POAF 10.08/-
Daily Return 12.28%
*Daily Returns are calculated as per MUFAP guidelines

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

Major trade boost: $1.3 billion goods allowed into EU duty-free
Jeans, slippers and truffles will be among 900 million euros ($1.3 billion) in Pakistani goods allowed into the European Union duty-free from next year under EU plans for trade assistance to the flood-hit country. The scheme, unveiled on Thursday, will suspend tariffs on 75 types of Pakistani-made goods which account for about 27 percent of exports to the EU, boosting sales by about 100 million euros. more... (BR)

RGST implementation: World Bank for resolving ERS, pending refunds issue first
The World Bank has conveyed to the Federal Board of Revenue that effective implementation of the Expeditious Refund System (ERS) and the reduction of the stock of pending refund claims are critical problems which needed to be resolved prior to the approval of the forthcoming Reformed GST. more... (BR)

Pakistan foreign exchange reserves hit $16.99 billion record level
The country's foreign exchange reserves rose to a historic level of $16.99 billion during last week because of rising foreign inflows. The State Bank of Pakistan on Thursday revealed that the country's total liquid forex reserves posted an increase of $204 million to $16.992 billion on week ended October 1, 2010 from $16.788 billion a week earlier. more... (BR)

 

 

 

 

 

 

 

Politics

Taking part in politics is Musharraf’s right: Zardari
President Asif Ali Zardari has said that former military ruler Pervez Musharraf has a right to take part in politics, but he will have to follow the course “we have taken in our political struggle riddled with sacrifices”. more... (D)

Landmark Karachi shrine attacked
Two suspected suicide bombers blew themselves up at Karachi’s Abdullah Shah Ghazi shrine on Thursday, killing at least eight people and leaving more than 60 injured. The blasts took place about half an hour after sunset in quick succession, targeting visitors, including women and children. more... (D)


President shelves small dam projects
President Asif Ali Zardari has ordered an investigation into an unusual 180 per cent increase in the cost of five small dams in just a year and asked the authorities concerned to shelve the projects. The president was surprised to know that the cost estimates had increased because of inclusion of unnecessary and irrelevant components in feasibility studies. more... (D)

 

 

 

 

 

 

 

Sector Briefing

Rental power projects: Supreme Court asks ministry to furnish record of transactions
A three-member Supreme Court bench on Thursday directed water and power ministry to submit by October 22 a complete record of transactions made with regard to rental power projects (RPPs). more... (BR)

Oil consumption falls by seven percent in first quarter

The oil consumption in the country has declined to 4.7 million tons during the first quarter of FY11, 7 percent lower than the same quarter last year. The oil consumption continued to post weak data following the flash floods as demand dipped 6 percent in September 2010 as compared to the same month last year. more... (BR)

KESC concerned over SSGC's media campaign

The Karachi Electric Supply Company has expressed distress over the negative media campaign by Sui Southern Gas Company and advised the SSGC to give top priority to people of Karachi for gas supply to fulfil their power needs and keep the City's lights on. more... (BR)

 

KSE Notices
 
 

Jahangir Siddiqui & Company Limited
The Board of Directors in the meeting held on Oct 7, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported LAT:PKR8.98bn LPS 11.77. 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.