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Nov 24, 2010
 
Statistics
KSE-100 Index
Previous Index 11,205.84
Current Index 11,171.09
Change % -0.31%
YTD (CY10) 19.00%
YTD (FY11) 14.91%

International Indicators
  Close %age
BSE-30 19,691.84 -1.30
HANGSENG 22,896.14 -2.70
NIKKEI 255 10,115.19 0.90
FTSE 5,581.28 -1.80
DJIA 11,036.37 -1.27
SSEC 2,835.70 0.82
NASDAQ 2,494.95 -1.46

SCRA
Nov 22, 2010 7.60
Nov, 2010 49.58
YTD (FY11) mn 154.31

Money Market Updates
6m T-bill 3-Nov-10 13.1099%
12m T-bil 3-Nov-10 13.2353%
3m KIBOR 13.03%
6m KIBOR 13.30%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 116.15
PKR/GBP 136.33
PKR/USD 85.55
PKR/OMR 218.83

Commodities
Oil $81.6/barrel
Change in % 0.46
Gold $1357.6/ounce
Change in % 1.35

Inflation
CPI Gen. - YoY (Oct-10) 15.3%
CPI Gen. - FY11 (Jul- Oct 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 22, 2010) $16.91bn
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 12, 2010) Rs672.14bn

NAVs and Returns
as of Nov 23, 2010
Funds Offer Redemption
POAIIF 51.6168/- 51.1006/-
Daily Return 8.17%
POIAAF 57.74/- 56.30/-
Daily Return -109.88%
POAAF 56.82/- 55.40/-
Daily Return -78.89%
POAF 10.23/-
Daily Return 11.69%
*Daily Returns are calculated as per MUFAP guidelines

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

Senate body approves Reformed General Sales Tax
The Senate Standing Committee on Finance and Economic Affairs approved the Reformed General Sales Tax (RGST). Earlier, addressing the Senate, Federal Minister for Finance and Economic Affairs, Abdul Hafiz Shiakh said the government wanted to restructure tax system and end privileges. more... (BR)

Revised fiscal year 2011 revenue target would surge to Rs 1.65 trillion: FBR chief speaks about post-RGST scenario
Federal Board of Revenue Chairman Sohail Ahmed on Monday said the revenue collection target would be revised upward to Rs 1,655 billion for 2010-11 from slashed target of Rs 1,595 billion in case Parliament approves the Reformed General Sales Tax, 10 percent flood surcharge and 1 to 2 percent increase in rate of special excise duty (SED) on luxury items bills. more... (BR)

Food import bill swells to $1.65bn
The import and export of food items registered a sharp increase during the first four months (July-October) of this fiscal year amid crop losses caused by the floods. The imports under the food group swelled to $1.653 billion during July-October 2010 from $1.043 billion while exports of food items rose to $952 million from $856 million in the corresponding period of 2009. more... (D)

October exports hit record $1.98bn

The country achieved record monthly export of $1.989 billion in October 2010, which is 26.1 per cent higher over the corresponding month last year, official figures showed on Tuesday. more... (D)

 

 

 

 

 

Politics

Army chief orders probe into NLC financial scam
The Chief of Army Staff, Gen Ashfaq Parvez Kayani, ordered a high-level inquiry on Tuesday into charges of massive financial irregularities in National Logistics Cell (NLC). more... (D)

Govt to take on anti-tax lobby, claims Hafeez
Amid noises of the opposition and some volatile allies, the government told the Senate on Tuesday it would stand up to a “powerful lobby” opposing general sales tax (GST) reforms to protect their interests. more... (D)

Benazir murder probe: 32 questions to be sent to Musharraf
Federal Investigation Agency (FIA) has decided to expand the canvas of investigation in assassination of former Prime Minister Benazir Bhutto by bringing former president Pervez Musharraf into investigation net. more... (BR)

COAS orders probe into NLC frauds
The Chief of Army Staff, General Ashfaq Parvez Kayani, on Tuesday ordered a high level probe into multi billion rupees irregularities in country's public sector freight transportation company National Logistics Cell (NLC) managed by senior Army officers. more... (N)

 

 

 

 

 

 

 

 

Sector Briefing

January-October period: PSO market share substantially down
Washington has assessed $ 21.8 billion financial requirement for Pakistan's energy sector reforms meant to help it add 6950 MW electricity to national grid in the next three years. The US assessment report forwarded to Pakistan speaks about different projects to overcome its widening energy crisis. more... (BR)

Hydrocarbons encountered in Makori well
Pakistan Oilfields Limited (POL) on Monday announced that hydrocarbons have been encountered in its exploratory well, Makori East-1, in Tal Block, which is being drilled. In an information sent to Karachi Stock Exchange (KSE), the company said that in the Lockhart Formation, upper 50 meters of the drilled section produced around 3209bbls per day of oil (API gravity 37) and 10.7mmcfd gas during Barefoot DST 32/64 inches fixed choke size at flowing wellhead pressure of 3179 psi. more (BR)

TDAP plans to enter $2tr Halal food market
The Trade Development Authority of Pakistan (TDAP) has initiated measures to formally enter the global Halal food market having huge annual turnover of around $2 trillion. more... (D)

 

KSE Notices
 
 

Honda Atlas Cars (Pakistan) Limited
The Board of Directors announced financial results for secod quartar ended Sep 30, 2010 with LAT: PKR55.55mn with LPS of PKR0.39. more... (KSE)

Fateh Industries Limited
The Board of Directors announced financial results for year ended June 30, 2010 with LAT: PKR31.48mn with LPS of PKR15.75. more... (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.