Nov 16, 2010
KSE-100 Index
Previous Index 10,874.02
Current Index 10,909.65
Change % 0.33%
YTD (CY10) 16.22%
YTD (FY11) 12.2%

International Indicators
  Close %age
BSE-30 20,309.69 0.76
HANGSENG 24,027.18 -0.81
NIKKEI 255 9,827.51 1.10
FTSE 5,824.41 0.40
DJIA 11,201.97 0.08
SSEC 2993.82 0.91
NASDAQ 2,513.82 -0.17

Nov 12, 2010 21.24
Nov, 2010 37.49
YTD (FY11) mn 321.81

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 117.03
PKR/GBP 137.92
PKR/USD 85.5
PKR/OMR 217.57

Oil $84.56/barrel
Change in % -0.55
Gold $1363.1/ounce
Change in % -0.28

CPI Gen. - YoY (Oct-10) 15.3%
CPI Gen. - FY11 (Jul- Sep 10) 14.2%
NFNE Core INFL - YoY (Oct 10) 9.3%
NFNE Core INFL - FY11 (Jul- Oct 10) 9.7%

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 (Nov 6, 2010) Rs668.17bn

NAVs and Returns
as of Nov 15, 2010
Funds Offer Redemption
POAIIF 51.5219/- 50.0067/-
Daily Return 8.58%
POIAAF 56.93/- 55.51/-
Daily Return 61.68%
POAAF 55.91/- 54.51/-
Daily Return 44.80%
POAF 10.21/-
Daily Return -61.26%
*Daily Returns are calculated as per MUFAP guidelines

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

US, Japan vow $1bn for rehab
US will provide $500 million to Pakistan immediately under the Kerry- Lugar Bill, while Japan will assist in the reconstruction and rehabilitation work of the flood affectees with $500 million in the form of grants, and Britain will provide Rs18 billion for the rehabilitation. more... (TFD)

S&P maintains B- rating to Pak
Standard & Poor's Monday maintained its ‘B-' rating on Pakistan's long-term sovereign debt and kept a stable outlook, helped by improved external liquidity. “The ratings affirmation takes into account Pakistan's improved external liquidity position, which was largely due to the International Monetary Fund standby loan agreement and other bilateral and multilateral support,” said Agost Benard, credit analyst at the rating agency. more... (TFD)

Electricity gets pricier by 2pc
The federal government has approved 2 per cent increase in electricity rates under agreement with IMF here on Monday. Notification has been issued in this regard. more... (TFD)

Fiscal deficit target set at 4.7 percent of GDP: revised budgetary framework presented

The government on Monday presented revised budgetary framework to the donors and development partners with fiscal deficit at 4.7 percent for the on-going fiscal year, which would be achieved by some additional revenue measures along with curtailing current and development expenditure. more (BR)









‘Nawaz asks Shahbaz not to support RGST'
PML-N chief Nawaz Sharif is reported to have asked Punjab Chief Minister Shahbaz Sharif not to support the PPP-led federal government on the issue of reformed general sales tax (RGST). more... (BR)

Musharraf, govt officials given clean chit in BB murder case
Almost 35 months after the assassination of former prime minister Benazir Bhutto, the PPP-led government submitted a challan to an anti-terrorism court in Rawalpindi on Monday. Surprisingly, the challan admitted the version of investigations carried out during the Musharraf government. more... (D)

Arrest of former chief: TCP officials in a state of shock
With the arrest of former Chairman of Trading Corporation of Pakistan (TCP), Abdul Malik, top officials (incumbent and retired) of corruption tainted state owned company are in a state of shock and seeking God's mercy. "Allah Hum Par Rahum Kary (God have mercy on us), I am expecting more arrests in wheat and sugar import deals as few big fish within the TCP are still at large," commented one TCP official. more... (BR)










Sector Briefing

Rs 46 billion dues: PSEs' defaults tarnishing SSGC image
Public sector defaults, to the tune of Rs 46 billion, led by privatised KESC, are tarnishing Sui Southern Gas Company's (SSGC) standing at international as well as country level, official sources told Business Recorder. The company has sought federal government's intervention to ensure payment to the international exploration and production (E&P) sector companies. more... (BR)

Banks stood firm in crisis: SBP
The banking sector in Pakistan has been able to withstand headwinds from weakening macroeconomic fundamentals since 2007. Although banks face increased credit risk, the overall sector is well placed to withstand modest shocks as they build their inventory of government securities. more (TFD)

Telecom industry
Pakistan Telecommunication Authority (PTA) chairman Dr Mohammed Yaseen has observed that companies are diverging into new grounds for the development of local contents and applications and it signifies a shift in telecom industry. more... (D)

State Bank's net profit falls to Rs186.73bn in 2009/10

The net profit of the State Bank of Pakistan (SBP) for the financial year ended on June 30 declined to Rs186.73 billion against the profit of Rs201.7 billion during the previous year, the central bank said on Monday. more... (N)


KSE Notices

Dandot Cement Company Limited
The Board of Directors has disclosed the financial statments of the company for the year ended Dec 30, 2009. The company reported LAT:PKR76.11mn LPS PKR0.8 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.