Nov 02, 2010
KSE-100 Index
Previous Index 10,598.40
Current Index 10,538.27
Change % -0.57%
YTD (CY10) 12.26%
YTD (FY11) 8.39%

International Indicators
  Close %age
BSE-30 20,355.63 1.61
HANGSENG 23,652.94 2.41
NIKKEI 255 9,154.72 (0.50)
FTSE 5,694.62 0.30
DJIA 11,124.62 0.06
SSEC 2967.22 3.18
NASDAQ 2,504.84 (0.10)

Oct 29, 2010 55.49
Oct, 2010 0.54
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 12.99%
6m KIBOR 13.24%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 120.16
PKR/GBP 138.04
PKR/USD 85.95
PKR/OMR 221.54

Oil $83.35/barrel
Change in % 1.42
Gold $1355.5/ounce
Change in % -0.27

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 Nov 1, 2010
Funds Offer Redemption
POAIIF 51.3623/- 50.8487/-
Daily Return 12.31%
POAIF 54.40/- 53.04/-
Daily Return -45.70%
POASF 54.12/- 52.77/-
Daily Return -91.53%
POAF 10.32/-
Daily Return 365.00%
*Daily Returns are calculated as per MUFAP guidelines

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

Turnover tax halved for refineries, OMCs
The federal government has reduced turnover tax from one percent to 0.5 percent for refineries, oil marketing companies (OMCs), gas companies and any category of taxpayer having annual turnover of over Rs 1 billion. more... (BR)

Power subsidies to go by end of fiscal year 2011: IMF assured
The government has assured the International Monetary Fund that it would eliminate subsidies on power sector by end of FY11 through passing on power tariff monthly or on quarterly basis to the consumers, it has been reliably learnt. more... (BR)

LPG king fined millions
A private company in which high-ranking Pakistan Peoples Party leaders as well as top civil and military officers have quotas and shares has been fined heavily by the Competition Commission of Pakistan, after the company was found to be involved in violating stipulated rules of fair play. . more... (ET)

Govt urged tax free LPG import
The price of imported Liquefied Petroleum Gas (LPG) has surged by Rs12000 to hit record high at Rs95000 per tonnes as Saudi Aramco Contract price (CP) climbed by $93 to $788 in the international market.. more... (TFD)

Haroon Askari appointed KSE 'Acting Managing Director'
Haroon Askari has been ap-pointed as 'Acting Managing Director' of Karachi Stock Exchange (KSE) with immediate effect. more... (BR)






18th amendment under review... again
Senator Raza Rabbani chaired a meeting of the parliamentary committee for constitutional reforms at the Parliament House today (Monday) to tackle and seek a solution to the long standing 18th amendment issue. In the meeting, the constitutional reforms committee decided to review judges appointment procedure on the Supreme Court's order. The meeting was attended by the representatives of all political parties and is expected to reconvene on November 10. more... (ET)

Hafeez to brief Zardari on talks today
Finance Minister Dr Abdul Hafeez Sheikh will brief President Asif Ali Zardari today (Tuesday) in Karachi about the ongoing talks with the International Monetary Fund (IMF), it is learnt. Sources in the Finance Ministry said discussions as per the programme would be on measures to be taken for rehabilitation and reconstruction of flood affected areas and possibility of imposition of flood tax in this regard. more... (BR)

PPP, PML-Q look to deflect threats to democracy
The Pakistan Peoples Party (PPP) and the Pakistan Muslim League-Quaid have reached a tacit understanding that the latter will support the governing party if any move is made to dislodge it from power at the centre. This cooperation is seen as deflecting threats to the PPP from various quarters, including one of its coalition partners in Sindh and the Centre. more... (ET)








Sector Briefing

AGP unearths huge revenue losses: role of FBR internal audit criticised
The Auditor General of Pakistan has unearthed huge revenue loss due to lack of internal controls within the Federal Board of Revenue (FBR) which resulted in the incorrect application of taxes, inadmissible exemptions, allowance of inadmissible input tax adjustments and overpayment of refunds. more... (BR)

32.51 percent decline in NSS investment
Investment in National Saving Schemes (NSS) registered a decline of 32.51 percent during the first quarter of current fiscal year mainly due to low rate of return. The State Bank of Pakistan on Monday said that investment in NSS stood at Rs 42.45 billion in July-September of current fiscal year as compared to Rs 62.91 billion in corresponding period of last fiscal year, depicting a cut of Rs 20.45 billion, or 32.51 percent. more... (BR)

1Q corporate profits up 15pc

Despite the devastating floods in country, corporate sector's profitability showed a decent growth of 15 per cent, as sectors less-affected by floods have surged in profitability during the period July to September 2010. According to the TFD Research — which includes 39 companies representing 78 per cent of the total market capitalisation of KSE 100-Index — total earnings of the companies mounted to Rs63.072 billion ($733 million) in 1QFY11 against Rs54.82 billion ($653 million) in the corresponding period last year. more... (TFD)


KSE Notices

Singer Pakistan Limited
The Board of Directors in the meeting held on Oct 30, 2010, has approved the financial statments of the company for the quarter ended Sep 30, 2010. The company reported PAT:PKR5.73mn EPS 0.17 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.