Nov 11, 2010
KSE-100 Index
Previous Index 10,992.28
Current Index 10,941.94
Change % 0.46%
YTD (CY10) 16.56%
YTD (FY11) 12.54%

International Indicators
  Close %age
BSE-30 20,875.71 0.27
HANGSENG 24,500.61 (0.85)
NIKKEI 255 9,830.52 1.40
FTSE 5,816.94 (1.00)
DJIA 11,356.20 0.09
SSEC 3,134.91. 1.11
NASDAQ 2,578.78 0.62

Nov 10, 2010 (18.56)
Nov, 2010 (16.28)
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 12.98%
6m KIBOR 13.24%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 117.61
PKR/GBP 136.72
PKR/USD 85.5
PKR/OMR 217.38

Oil $88.32/barrel
Change in % 2.16
Gold $1406.5/ounce
Change in % 0.57

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 10, 2010
Funds Offer Redemption
POAIIF 51.4669/- 50.9522/-
Daily Return 6.55%
POAIF 56.54/- 55.13/-
Daily Return -46.23%
POASF 55.91/- 54.51/-
Daily Return -83.32%
POAF 10.35/-
Daily Return 11.56%
*Daily Returns are calculated as per MUFAP guidelines

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

Federal Cabinet approves RGST Bill
Finance Minister Dr. Abdul Hafeez Shaikh said on Wednesday that the Federal Cabinet has approved the Reformed General Sales Tax (RGST) Bill and to be introduced in the National Assembly for approval during the current session. more... (BR)

Zardari highlights economic potential
President Asif Ali Zardari Wednesday said that Pakistan has great potential to achieve a much higher economic growth dramatically on a sustained basis. For this purpose innovative ideas are needed and international assistance in areas of trans-regional connectivity and infrastructure development which will open up Pakistan to Central Asia, China and countries in the region, on one hand, and with Turkey and the Middle Eastern region, on the other. more... (BR)

Pakistan qualifies for IMF fifth tranche
With formal approval from the federal cabinet and possible tabling of the bill for approval of Reformed General Sales Tax (RGST) from the parliament in next couple of days, the government has crossed the bridge to qualify for fifth tranche of $3.4 billion from the International Monetary Fund (IMF) under Standby Arrangement (SBA) by December 31. more... (BR)









Nawaz offers good rule recipe to Zardari
Pakistan Muslim League-N chief Nawaz Sharif has written a letter to President Asif Ali Zardari advising him to address the issues of corruption, inflation, lack of accountability and non-implementation of Supreme Court orders and to take measures to save large state-owned enterprises. more... (D)

PML-Q faces split over move for alliance with PPP
A recent meeting between federal Law Minister Babar Awan and Punjab PML-Q chief Chaudhry Pervaiz Elahi has led to speculations of a possible alliance between their parties but this may not be enough to provide a second lease of life to the Q League in the long run. more... (D)

Nahid out to expose Benazir's killers
Nahid Khan, the former political secretary to slain PPP chairperson Benazir Bhutto, has launched a campaign to press the government to uncover the assassins of Benazir Bhutto. On Wednesday, Nahid Khan was invited to a reception hosted by a PPP worker in Dhoke Ratta which eventually turned into a big corner meeting of political activists against the ruling PPP. more... (D)










Sector Briefing

Government earning Rs 24 billion from GST on sugar
The government is charging 8 percent GST on sugar, which accounts for Rs 2 billion per month revenue for the government or 24 billion rupees for the year, according to Ministry of Finance. Federal Board of Revenue (FBR) spokesman Israr Rauf said that 8 percent GST was applicable on ex-mill price as well as on sugar released in the market or to provinces by the Trading Corporation of Pakistan (TCP). more... (BR)

Funding to energy projects: 'ESDF' being set up with $1 billion credit line
With an objective to ensuring timely funding to energy projects, the government has decided to set up an Energy Sector Development Fund (ESDF) with a credit line of $1 billion and a guarantee line of another $1 billion. Sources in the ministry of Water and Power said the broader lines of the ESDF were finalised at Pak-US Strategic Dialogue held in Washington DC in September. more... (BR)

July-Oct monetary growth up by 100pc
Tight monetary policy remained ineffective in the first four months of the current fiscal year as monetary growth went up by 100 per cent than last year while the main inflation seems to be breaking the barrier. The State Bank reported on Wednesday that the monetary growth (M2) jumped up by 1.89 per cent during July-October, from 0.91pc growth of the same period last year. more... (D)


KSE Notices

Nadeem Textile Mills Limited
The Board of Directors has disclosed the financial statments of the company for the June ended June 30, 2010. The company reported PAT:PKR183.87mn EPS 15.30 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
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.