Oct 20, 2010
KSE-100 Index
Previous Index 10,484.39
Current Index 10,464.89
Change % -0.18%
YTD (CY10) 11.48%
YTD (FY11) 7.64%

International Indicators
  Close %age
BSE-30 19,983.13 (0.92)
HANGSENG 23,763.73 1.30
NIKKEI 255 9,539.45 0.40
FTSE 5,703.89 (0.70)
DJIA 10,978.62 (1.48)
SSEC 3038.48 3.12
NASDAQ 2,436.95 (1.76)

Oct 18, 2010 1.30
Oct, 2010 2.63
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 12.99%
6m KIBOR 13.21%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 119.73
PKR/GBP 136.47
PKR/OMR 221.92

Oil $80.15/barrel
Change in % -3.00
Gold $1340.2/ounce
Change in % -1.97

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 18, 2010) $16.969bn
Trade Balance Aug $(1.24)bn
Curr. A/C (Jul-Sep-10) $(545)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 19, 2010
Funds Offer Redemption
POAIIF 51.2169/- 50.7047/-
Daily Return 12.86%
POAIF 53.93/- 52.58/-
Daily Return -34.68%
POASF 53.71/- 52.37/-
Daily Return 6.97%
POAF 10.16/-
Daily Return 16.29%
*Daily Returns are calculated as per MUFAP guidelines

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

Mega projects to be given to Chinese companies: Zardari wants LPG pipeline to be laid from Gwadar to China
President Asif Ali Zardari has directed the ministries concerned to lay a pipeline from Gwadar to China and from Gwadar to his hometown Nawabshah for supply of liquefied petroleum gas (LPG) to Karachi, Hyderabad, Nawabshah and Sanghar, sources told Business Recorder. Progress on this project was recently discussed at a meeting recently held under the chairmanship of President Asif Ali Zardari. more... (BR)

Current account deficit narrows down by seven percent in first quarter
The country's current account deficit has narrowed down by 7 percent during first quarter of FY11 mainly due to heavy inflows of home remittances and decline in services deficit. The State Bank of Pakistan (SBP) statistics revealed on Tuesday that the country's CA deficit has declined by $42 million to $545 million during the July-September of current fiscal year as compared to $587 million in the corresponding period of last fiscal year. more... (BR)

1Q import bill swells 19pc to $9bn
Country’s imports of mostly all the sectors surged during the first quarter of fiscal year 2010-11, as import bill increased 19 per cent to $9.03 billion against $7.58 billion in Jul-Sept period of last year, mainly due to surge in commodity prices in international market along with higher demand of cotton, sugar and palm oil. more... (TFD)







There is a limit to tolerance: Altaf
Chief of the Muttahida Qaumi Movement (MQM) Altaf Hussain has said that a conspiracy has been hatched to sabotage peace and by-elections in Karachi. Hussain said the MQM was neither conspiring against the government nor deceiving it and if the government did not change its attitude of going back on its promises, then the MQM will go to the people and seek their opinion about continuing in the government. more... (T)

President Obama may surprise Pakistan
As an apparent balancing side-trip to his scheduled Indian tour early next month, US President Barack Obama may pay a surprise visit to Pakistan, The Express Tribune has learnt. A top foreign ministry official has confirmed that Islamabad was making hectic diplomatic efforts to ensure that the US president’s forthcoming trip to the region does include Pakistan. more... (T)

200 corruption files of PPP leaders missing: PML-N
The Pakistan Muslim League-Nawaz (PML-N) on Tuesday alleged that some 200 files containing the corruption investigation record of top Pakistan Peoples Party leadership have gone missing from the National Accountability Bureau (NAB) headquarters. more... (T)










Sector Briefing

Regulated, deregulated petroleum products: Cabinet's approval sought for empowerment of Orga to monitor prices
Ministry of Petroleum (MoP) has sought approval from Cabinet to empower Oil and Gas Regulatory Authority (Ogra) to monitor prices of regulated as well as de-regulated petroleum products, Business Recorder has learnt. In existing mechanism, Ogra is empowered to monitor only regulated products. "Petroleum Ministry has moved a summary to Cabinet to empower Ogra for monitoring prices of regulated as well as de-regulated petroleum products," sources maintained. more... (BR)

SSGC facing critical time owing to non-payment of dues

Sui Southern Gas Company (SSGC) will soon become white elephant if persisting trend of non-payment of dues continue by big consumers like KESC, Wapda and other government organisations, Dr Faizullah Abbasi, Managing Director SSGC informed industrialists. more... (BR)

Premier mulls $500 million bid for BP''s assets in Pakistan

UK-based explorer Premier Oil is mulling a $500 million bid for BP''s gas production business in Pakistan, the Times newspaper said on Tuesday. Citing people familiar with the talks, the newspaper said it is not certain whether Premier or Mubadala, the Abu Dhabi sovereign wealth fund which has also expressed an interest in the assets, will participate in the bidding next month. more... (BR)


KSE Notices

Askari General Insurance Co. Limited
The Board of Directors in the meeting held on Oct 19, 2010, has approved the financial statments of the company for the third quarter ended Sep 30, 2010. The company reported PAT:PKR15.298mn EPS 1.24. more... (KSE)

Sitara Chemicals Industries Limited
The Board of Directors in the meeting held on Oct 19, 2010, has approved the financial statments of the company for the third quarter ended Sep 30, 2010. The company reported PAT:PKR64.19mn EPS 3.05. 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.