Nov 12, 2010
KSE-100 Index
Previous Index 10,941.94
Current Index 10,905.24
Change % -0.34%
YTD (CY10) 16.17%
YTD (FY11) 12.17%

International Indicators
  Close %age
BSE-30 20,589.09 -1.37
HANGSENG 24,700.30 0.82
NIKKEI 255 9,861.46 0.30
FTSE 5,815.23 -0.15
DJIA 11,283.10 -0.65
SSEC 3,134.91. -1.87
NASDAQ 2,555.52 -0.90

Nov 08, 2010 (18.56)
Nov, 2010 (16.28)
YTD (FY11) mn 267.65

Money Market Updates
6m T-bill 3-Nov-10 13.1099%
12m T-bil 3-Nov-10 13.2353%
3m KIBOR 12.98%
6m KIBOR 13.24%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 118.05
PKR/GBP 138.13
PKR/USD 85.5
PKR/OMR 217.38

Oil $86.63/barrel
Change in % 1.91
Gold $1388.6/ounce
Change in % -1.27

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 (Nov 4, 2010) $16.95bn
Trade Balance Sep $(0.59)bn
Curr. A/C (Jul-Sep-10) $(545)bn
Remittances (July - Oct 10) $3.5bn
Foreign Investment (Jul - Sep 10) $455.1mn
All Sch. Banks Deposit Base (Oct 29, 2010) Rs656.95bn

NAVs and Returns
as of Nov 11, 2010
Funds Offer Redemption
POAIIF 51.4773/- 50.9625/-
Daily Return 7.66%
POAIF 56.43/- 55.02/-
Daily Return -72.83%
POASF 55.72/- 54.33/-
Daily Return -120.53%
POAF 10.35/-
Daily Return 11.16%
*Daily Returns are calculated as per MUFAP guidelines

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

Remittances rise over 13pc to $3.5 billion in July-Oct
Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of $3,501.40 million was received in the first four months (July-Oct) of the current fiscal year, showing an increase of $411.61 million or 13.32 percent over the same period of the last fiscal. more... (BR)

Inflation rises to 15.33pc in October
Led by a robust growth in food prices, Pakistan`s inflation edged up to a 16-month high in October owing to recent devastating floods that not only damaged the standing crops but also disrupted food supply chain to market. Ahead of the implementation of the revised general sales tax (RGST) from the next year, the rising food prices could be one of most critical problem for the government as proposed consumption tax would further accelerate food inflation. more... (D)

Trade gap narrows by 11 per cent
The balance of trade decelerates more than 11 per cent in October as imports become costlier due to imposition of regulatory duties and devaluation of rupee, suggests data of federal bureau of statistics issued on Thursday. As a result, exports rose at a faster clip than imports in the month under review over the corresponding month last year indicating a slower domestic demand for imports due to enforcement of the IMF-led austerity measures by the government. more... (D)









20 killed, more than 130 injured in Karachi blast
A massive explosion ripped through CID civil lines building on Thursday, killing at least 20 people and injuring more than 130, Aaj News reported. One government official said a group of militants first opened fire before detonating a bomb, comparing the explosion to a massive attack that killed 60 people at the five-star Marriott hotel in Islamabad in September 2008. more... (BR)

RGST, flood surcharge to harm economy: MQM
The Muttahida Quami Movement stepped up its opposition to the Reformed General Sales Tax (RGST) and flood surcharge on Thursday, terming the measures the last nail in the coffin of national economy. more... (D)

Transparency is no quick fix: Hafeez's reply to foreign media
Finance Minister Dr Abdul Hafeez on Thursday said several measures have been taken to allay the concerns of our own people and lending countries with respect to transparent utilisation of funds for flood victims. more... (BR)










Sector Briefing

Kapco deleted from MSCI FMI
Morgan Stanley Capital International (MSCI) Barra, a leading provider of benchmark indices and risk management analytical products – announces the results of the November 2010 Semi-Annual Index Review of its indices in which Pakistan will continue to be classified into MSCI Frontier Markets Index. Furthermore, Kot Addu Power Company limited (KACPO) has been deleted from MSCI Pakistan Index while no new company has been added. more... (TFD)

Pepco gets Rs30bn loan to address fiscal woes
The ministry of finance on Thursday quietly lent Rs30 billion over its budgetary allocations to the Pakistan Electric Power Company (Pepco) to alleviate financial woes of the company. According to the ministry officials it is a loan, which the company would hopefully recover by increasing cost of electricity in the next eight months, and be able to pay back. At least, that is what the lending hypothesis is, they said. more... (D)

'Tight gas policy' ready to be tabled before CCI: Naveed
Federal Minister for Petroleum and Natural Resources Syed Naveed Qamar on Wednesday said that 'tight gas policy' is ready to be tabled before the Council of Common Interests (CCI) scheduled to meet within a month. The minister stated this while addressing the Annual Technical Conference of the Society of Petroleum Engineers (SPE) and Pakistan Association of Petroleum Geoscientists (PAPG) 2010, here. more... (BR)


KSE Notices

Salman Noman Enterprises Limited
The Board of Directors has disclosed the financial statments of the company for the year ended June 30, 2010. The company reported PAT:PKR47.174mn 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.