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Oct 12, 2010
 
Statistics
KSE-100 Index
Previous Index 10,260.48
Current Index 10,322.56
Change % 0.61%
YTD (CY10) 9.96%
YTD (FY11) 6.18%

International Indicators
  Close %age
BSE-30 20,339.89 0.44
HANGSENG 23,207.31 1.15
NIKKEI 255 9,588.88 (1.00)
FTSE 5,672.40 0.30
DJIA 11,010.34 0.04
SSEC 2,799.23 5.41
NASDAQ 2,402.33 0.02

SCRA
Oct 8, 2010 2.16
Oct, 2010 -1.05
YTD (FY10) 84.24

Money Market Updates
6m T-bill 22-Sep-10 13.0719%
12m T-bil 22-Sep-10 13.2175%
3m KIBOR 13.01%
6m KIBOR 13.22%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 119.84
PKR/GBP 136.47
PKR/USD 85.85
PKR/OMR 221.54

Commodities
Oil $81.71/barrel
Change in % -2.04
Gold $1350.2/ounce
Change in % -0.27

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 $ 1,1046
Population 170.45mn
US$ Reserves (Oct 07, 2010) $16.992bn
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 (Oct 1, 2010) Rs651.95bn

NAVs and Returns
as of Oct 11, 2010
Funds Offer Redemption
POAIIF 51.1254/- 50.6141/-
Daily Return 7.92%
POAIF 53.06/- 51.73/-
Daily Return -16.44%
POASF 52.49/- 50.18/-
Daily Return -2.38%
POAF 10.11/-
Daily Return 12.53%
*Daily Returns are calculated as per MUFAP guidelines

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

Food inflation rises to 21.24 percent in September
Food inflation rose to 21.24 percent in September, 2010 over the same period of last year on the back of steep increase in the prices of perishable items following floods. Official figures of monthly Consumer Price Indicators (CPI) released by the Federal Bureau of Statistics (FBS) on Monday showed an increase of 53.86 percent in the price of perishable food items and 16.04 percent in non-perishable food items that is feared to propel more people below the poverty line. more... (BR)

Sales tax under RGST: standard rate proposed
The standard rate of sales tax under the reformed general sales tax (RGST) has been proposed as 17 percent to avoid any major revenue shortfall during the remaining months of current fiscal (2010-11). Sources told Business Recorder here on Monday that the Federal Board of Revenue has also proposed standard rate of 17 percent for sales tax under the RGST. more... (BR)

‘Investors’ oppose introduction of MTS in stock
A group of small investors have approached the finance ministry and the capital markets regulator against the introduction of leverage product in stock markets on the ground that it could lead to another crash of the market engineered by some influential brokers. more... (D)

 

 

 

 

 

 

 

Politics

Zardari says govt will complete term
President Asif Ali Zardari has said the government will continue to serve the people and complete its five-year tenure despite all attacks and attempts to corner it. Addressing a gathering at the Zardari House here on Monday, he said every dictator had tried to harm the Pakistan People’s Party, but the country could not afford more of such misadventure. more... (D)

Sharif removed Musharraf after a phone call: Gen Butt
Eleven years after the fateful night that put an end to his military career, General (retd) Ziauddin Butt disclosed that General (retd) Pervez Musharraf had plans to topple the elected government since his inception as Chief of the Army Staff (COAS) in 1998. more... (D)


Govt has right to change counsel, says Babar
Federal Law Minister Babar Awan says the PPP is not being given its agreed share in the Punjab government but it will continue to be part of the coalition setup. “We have grievances but we will not quit the Punjab government for the sake of democracy,” he said. He was talking to the media after attending Punjab PPP parliamentary meeting here on Monday. more... (D)

 

 

 

 

 

 

 

 

Sector Briefing

OGDCL gets security forces nod to start drilling in Zin Block
Pakistan’s security forces have finally given clearance to the Oil and Gas Development Company Limited (OGDCL) to start drilling in one of the most prospective, but insurgency-hit parts of Balochistan, top company officials said on Monday.
OGDCL will initiate drilling of the first well in Zin Block of Dera Bugti district, to check the size and quality of gas reservoir more than six years after a survey suggested presence of hydrocarbon reserves there, they said. more... (N)

Norway has negligible investment in Pakistan's energy sector

Despite being the third largest oil and gas exporter in the world and in forefront of hydrocarbon industry, Norway has negligible investment in energy sector in Pakistan. These views were expressed by Robert Kvile, the Norwegian Ambassador to Pakistan while speaking at an interactive session on "Norway: Foreign Policy Priorities and Relations to Pakistan" organised by the Karachi Council on Foreign Relations, Economic Affairs and Law (KCFR) here on Monday. more... (BR)

'Tight Gas Petroleum Policy' soon: Naveed

Federal Minister for Petroleum and Natural Resources, Syed Naveed Qamar, on Monday said that the government will soon announce a "Tight Gas Petroleum Policy." Talking to the media after addressing "Fuelling Pakistan Conference" here, he said that the Federal Cabinet has been forwarded all its major components so that it could be approved without any further hitch. more... (BR)

 

KSE Notices
 
 

Ghani GasesLimited
The Board of Directors in the meeting held on Oct 11, 2010, has approved the financial statments of the company for the year ended 30 June, 2010.The company reported PAT:PKR24.16mn EPS 0.33. 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.