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Nov 10, 2010
 
Statistics
KSE-100 Index
Previous Index 10,882.00
Current Index 10,992.28
Change % 1.01%
YTD (CY10) 17.10%
YTD (FY11) 13.06%

International Indicators
  Close %age
BSE-30 20,932.48 0.38
HANGSENG 24,710.60 (1.02)
NIKKEI 255 9,694.49 (0.40)
FTSE 5,875.19 0.40
DJIA 11,347.43 0.53
SSEC 3,100.59. (1.58)
NASDAQ 2,562.98 (0.66)

SCRA
Nov 04, 2010 0.11
Nov, 2010 (1.27)
YTD (FY11) mn 267.65

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 13.23%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 119.3
PKR/GBP 137.95
PKR/USD 85.55
PKR/OMR 218.05

Commodities
Oil $86.45/barrel
Change in % 0.47
Gold $1398.4/ounce
Change in % 0.74

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 (Nov 4, 2010) $16.95bn
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 29, 2010) Rs656.95bn

NAVs and Returns
as of Nov 8, 2010
Funds Offer Redemption
POAIIF 51.4490/- 50.9345/-
Daily Return 12.67%
POAIF 56.69/- 55.27/-
Daily Return 108.83%
POASF 56.16/- 54.76/-
Daily Return 112.11%
POAF 10.34/-
Daily Return 11.05%
*Daily Returns are calculated as per MUFAP guidelines

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

Cabinet set to approve RGST today
The federal cabinet is set to approve a revised general sales tax framework on Wednesday. It seeks, among others, withdrawal of exemptions on textile and agriculture sectors. more... (D)

Pakistan has highest inflation rate in region
Prime Minister Yousaf Raza Gilani has directed Finance Minister Dr Abdul Hafeez Sheikh, Foreign Minister Shah Mahmood Qureshi and Minister of State for Economic Affairs Hina Rabbani Khar to formulate a ''joint strategy'' with regard to Pakistan Development Forum (PDF) for media and public consumption, official sources more... (BR)

Pakistan to finalize legislative framework for RGST
Pakistan has proposed the IMF mission to finalize legislative framework for the Reformed General Sales Tax (RGST) in the coming days for submission to the parliament. more... (D)

Sugar barons' clout in govt blamed for crisis
The Network for Consumer Protection has expressed concern at the dramatic increase in sugar price and alleged that sugar barons having clout in the government have created an artificial shortage. more... (D)

PC stops releasing funds for PSDP projects
The Planning Commission has stopped releasing funds to ministries and divisions for development projects till the final decision by Prime Minister Yousuf Raza Gilani regarding Rs 70 billion proposed cut in the Public Sector Development Programme (PSDP) 2010-11. more... (BR)

 

 

 

 

 

Politics

FIA points to Punjab govt's suspicious silence
Director Federal Investigation Agency Zafar Ahmad Qureshi has disclosed to the Supreme Court that he was being maligned by the Punjab government because he had the gall to summon top civilian aides of the Sharif brothers to record their statements for a probe into the alleged plot to murder the Chief Justice of Lahore High Court. more... (ET)

PML-N stops members from meeting govt reps
The Pakistan Muslim League-Nawaz (PML-N) has barred its parliamentarians from holding direct meetings with Prime Minister Yousaf Raza Gilani and other members of the federal cabinet without seeking prior permission from top party leaders .” more... (D)

Musharraf outlines his political strategy for Pakistan
Exiled former Pakistani President Pervez Musharraf, who plans to return home and head a new political party, on Tuesday, brought the case for his political revival to some of the most influential figures in US foreign policy. Musharraf told the Council on Foreign Relations in New York he believed he had “an even chance” of returning to political power in his country's 2013 general election and would seek to attract support of those who do not normally vote. more... (D)

 

 

 

 

 

 

 

Sector Briefing

PAC report against NIT in cold storage
The government has put on the backburner a report of the Public Accounts Committee (PAC) of the National Assembly in which action was recommended against the management of National Investment Trust (NIT) for irregular transfer of shares of a government entity to private investors. more... (D)

Remittances surge in July-Sept, says WB
Pakistani migrants abroad responded positively to the calls for help from their families and friends back home as flow of remittances recorded a surge following devastating monsoon floods, according to World Bank`s latest “Migration and Remittances Factbook 2011.” more... (D)

Oil consumption up 34 percent in October
After witnessing a slowdown in the first quarter of current fiscal year, the oil consumption in the local market significantly increased by 34 percent to 1.861 million tons in October. more... (BR)

 

KSE Notices
 
 

Deewan Salman Fibre Limited
The Board of Directors has disclosed the financial statments of the company for the quarter ended Sep 30, 2010. The company reported LAT:PKR246.01mn LPS 0.67 more... (KSE)

Balochistan Glass Limited
The Board of Directors has disclosed the financial statments of the company for the quarter ended Sep 30, 2010. The company reported LAT:PKR68.08mn LPS 0.79more... (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.