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Oct 26, 2010
 
Statistics
KSE-100 Index
Previous Index 10,652.48
Current Index 10,703.71
Change % 0.48%
YTD (CY10) 14.02%
YTD (FY11) 10.09%

International Indicators
  Close %age
BSE-30 20,303.12 0.68
HANGSENG 23,627.90 0.50
NIKKEI 255 9,401.16 (0.30)
FTSE 5,751.98 0.20
DJIA 11,164.05 0.28
SSEC 3,014.03 0.89
NASDAQ 2,490.85 0.46

SCRA
Oct 21, 2010 15.05
Oct, 2010 -1.98
YTD (FY10) 84.24

Money Market Updates
6m T-bill 20-Oct-10 13.1193%
12m T-bil 20-Oct-10 13.2353%
3m KIBOR 12.97%
6m KIBOR 13.20%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 120.69
PKR/GBP 135.41
PKR/USD 86
PKR/OMR 221.73

Commodities
Oil $82.45/barrel
Change in % -0.26
Gold $1340.3/ounce
Change in % 0.09

Inflation
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 21, 2010) $17.10bn
Trade Balance Sep $(0.59)bn
Curr. A/C (Jul-Sep-10) $(545)bn
Remittances (July - Sep 10) $2646.30mn
Foreign Investment (Jul - Sep 10) $455.1mn
All Sch. Banks Deposit Base (Oct 15, 2010) Rs661.65bn

NAVs and Returns
as of Oct 25, 2010
Funds Offer Redemption
POAIIF 51.2769/- 50.7641/-
Daily Return 7.20%
POAIF 55.21/- 53.83/-
Daily Return 81.92%
POASF 55.05/- 53.67/-
Daily Return 82.16%
POAF 10.18/-
Daily Return 12.16%
*Daily Returns are calculated as per MUFAP guidelines

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

SBP lowers FY 10/11 GDP growth forecast
State Bank of Pakistan (SBP) on Monday lowered its gross domestic product growth forecast to be between 2 percent and 3 percent for the 2010/11 fiscal year (July-June), following the devastating floods in August. Before the floods, the government's target was 4.5 percent. The macroeconomic framework embedded in the FY11 Annual Development Program targets have suffered a serious setback early into the year as large areas of the country were devastated by widespread rains and unprecedented floods. more... (BR)

Govt missed all fiscal targets in 2009-10: SBP
Fundamental structural weaknesses in the economy remained unaddressed and key reforms failed to gain traction during the outgoing fiscal year, said the State Bank of Pakistan (SBP) in its annual report on the state of the economy for the year 2009-10. more... (T)

Nepra cuts tariff by 36paisa/unit
National Electric Power Regulatory Authority (NEPRA) has reduced power tariff by 36 paisa per unit in respect of all the distribution companies (Discos). The new power tariff will take effect from September. Power distribution companies had demanded that power tariff be decreased by 23 paisas per unit. According to details, power distribution companies had filed applications with Nepra about reduction in power tariff and
monthly fuel adjustment charges. more... (TFD)

 

 

 

 

Politics

‘MQM leaders could be assassinated'
An interior ministry report revealed life threats to leaders of the Muttahida Quami Movement (MQM), following which they were instructed to limit their activities. The interior ministry cautioned the MQM leaders to be extra vigilant about their personal security. The report, which has been sent to MQM, says Farooq Sattar, Haider Abbas Rizvi and Mustafa Kamal face serious threats to their lives. more... (T)


Democracy hinges on House supremacy: PM
Political leadership serious towards national issues. Minimum deterrence to be maintained: Wyne meets Gilani. Prime Minister Syed Yousuf Raza Gilani has said that supremacy of the Parliament is imperative for promotion of the democratic culture and ensuring good governance in the country. He further said that the quality of debate and business of the Parliament show the seriousness of the political leadership towards national issues and their settlement. more... (TFD)

PPP cuts into the queue
Threatened by allies and enemies alike, the ruling Pakistan Peoples Party publicly opened dialogue with the internally-fractured Pakistan Muslim League-Quaid – which is still, on paper, the third largest party in the Centre with a crucial 52 seats. The dialogue also has great political relevance for the Punjab government, which is run by the PML-N. The PML-Q on paper has over 80 seats in the provincial assembly. more... (T)

 

 

 

 

 

 

 

Sector Briefing

TAPI gas pipeline project: Cabinet to approve revised GPFA on October 27
The Cabinet which is scheduled to meet on Wednesday (October 27) in Governor House Lahore will approve revised Gas Pipeline Framework Agreement (GPFA) of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. To be presided over by Prime Minister Yousuf Raza Gilani, the Cabinet will also give concurrence to the proposals of the Federal Board of Revenue with regard to taxation on the pipeline. more... (BR)


Five per cent rise in POL prices likely

With people already reeling under 16 per cent inflation, the prices of petroleum products are likely to be increased by more than five per cent (Rs3.5 to Rs4 per litre) on October 31 owing to a rising trend in the international market. more... (D)

Receivables top Rs 152 billion: PSO close to financial collapse

The cash-strapped Pakistan State Oil is close to financial collapse as its receivables have accumulated to Rs 152 billion while the new administration of Pakistan Electric Power Company (Pepco), the Ministry of Water and Power and the Finance Ministry are reluctant to inject money to bail PSO out from financial woes. more... (BR)

 

KSE Notices
 
 

Kot Addu Power Company Limited
The Board of Directors in the meeting held on Oct 25, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR2.037bn EPS 2.31. more... (KSE)

National Foods Limited
The Board of Directors in the meeting held on Oct 25, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR27.84mn EPS 0.67. more... (KSE)

Arif Habib Limited
The Board of Directors in the meeting held on Oct 25, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR22.14mn EPS 0.49. more... (KSE)

Lafarge Cement Limited
The Board of Directors in the meeting held on Oct 25, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported LAT:PKR341.96mn LPS 0.26. 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.