Oct 14, 2010
KSE-100 Index
Previous Index 10,292.33
Current Index 10,389.97
Change % 0.94%
YTD (CY10) 10.68%
YTD (FY11) 6.87%

International Indicators
  Close %age
BSE-30 20,687.88 2.40
HANGSENG 23,457.69 1.40
NIKKEI 255 9,403.51 0.20
FTSE 5,747.35 1.50
DJIA 11,096.08 0.69
SSEC 2,873.84 1.18
NASDAQ 2,441.23 0.96

Oct 12, 2010 0.53
Oct, 2010 -0.74
YTD (FY10) 84.24

Money Market Updates
6m T-bill 08-Oct-10 13.0719%
12m T-bil 08-Oct-10 13.2175%
3m KIBOR 12.98%
6m KIBOR 13.21%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 120.18
PKR/GBP 136.16
PKR/USD 86.1
PKR/OMR 221.54

Oil $83.73/barrel
Change in % 1.98
Gold $1378.3/ounce
Change in % 1.55

CPI Gen. - YoY (Sep-10) 15.7%
CPI Gen. - FY11 (Jul- Sep 10) 13.80%
NFNE Core INFL - YoY (Sep 10) 9.4%
NFNE Core INFL - FY11 (Jul- Sep 10) 9.8%

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 (July - Sep 10) $2646.30mn
Foreign Investment (Jul - Sep 10) $267.1mn
All Sch. Banks Deposit Base (Oct 1, 2010) Rs651.95bn

NAVs and Returns
as of Oct 13, 2010
Funds Offer Redemption
POAIIF 51.1469/- 50.6354/-
Daily Return 8.10%
POAIF 53.59/- 52.25/-
Daily Return 324.19%
POASF 53.03/- 51.70/-
Daily Return 363.65%
POAF 10.11/-
Daily Return 12.65%
*Daily Returns are calculated as per MUFAP guidelines

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

Flood-hit areas rehabilitation: Centre cuts PSDP by 30 percent
The Federal government has reduced its Public Sector Development Programme (PSDP) by 30 percent, from Rs 280 billion to Rs 196 billion, for reconstruction and rehabilitation of flood affected areas, it is learnt. more... (BR)

EU duty relief: Ministry finalises list of 15 home textile, garment items
A list of 15 home textile and garment items has been finalised which will be provided to the European Union (EU) requesting for inclusion in the list of 75 items given duty concession. more... (BR)

MCR fixed at Rs 10 billion: SBP tightens criteria for setting up bank
The State Bank of Pakistan on Wednesday enhanced the minimum paid up capital requirement (MCR) (free of losses) by 400 percent, to Rs 10 billion, with immediate effect, with a view to tightening criteria for setting up a commercial bank. more... (BR)











Move termed violation of NRO verdict: SC
The Supreme Court pointed out to the government ‘in guarded language’ on Wednesday that its appointment of Justice (retd) Deedar Hussain Shah as chairman of the National Accountability Bureau was another violation of the court verdict on the National Reconciliation Ordinance because it had been done without consultation with the chief justice. more... (D)

Raisani offers Gwadar for Nato supplies
Balochistan Chief Minister Nawab Aslam Raisani said on Wednesday that a peaceful and stable Pakistan was necessary not only for peace in the region but also peace in the world. more... (D)

Two NRO beneficiaries' services terminated
Prime Minister Yousuf Raza Gilani has terminated the services of Mukarram-ul-Haq, Executive Director, Printing Corporation of Pakistan, from September 8, 2004, the date of his conviction by the Accountability Court. Mukarram-ul-Haq was a beneficiary of the NRO. more... (BR)










Sector Briefing

Engro Corp to launch TFCs worth Rs4 billion
Engro Corporation (Engro) is holding a press briefing today to present details of its forthcoming TFCs named ‘Engro Rupiya’. The instrument has been rated as AA by PACRA, while there is neither a pre IPO nor any underwriter for the issue.
Engro has already issued prospectus for public offering to mobilise Rs4 billion including a green shoe option of Rs2 billion. Proceeds from TFCs would be used by its subsidiaries in fertilisers and foods businesses. more... (TFD)

KESC tariff cut by 16 paisa/unit

National Electric Power Regulatory Authority (NEPRA) has issued notification of reduction in power tariff by 16 paisas per unit in respect of Karachi Electric Supply Company (KESC). The reduction in the tariff has been made under the head of monthly fuel adjustment surcharge. more... (TFD)

IP gas pipeline laying: no Russian company interested: envoy

Russia has ruled out involvement of any Russian company in laying gas pipeline under Iran-Pakistan (IP) gas pipeline project. "No Russian company is interested in executing gas project between Pakistan and Iran," Ambassador of Russia, Budnik Andrey, said while exclusively talking to Business Recorder. more... (BR)


KSE Notices

Descon Oxychem Limited
The Board of Directors in the meeting held on Oct 13, 2010, has approved the financial statments of the company for the first quarter ended Sep 30, 2010.The company reported LAT:PKR506.68mn LPS 0.41. more... (KSE)








(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily, (KSE) Karachi Stock Exchange
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.