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Nov 30, 2010
 
Statistics
KSE-100 Index
Previous Index 11,145.02
Current Index 11,163.43
Change % 0.16%
YTD (CY10) 18.92%
YTD (FY11) 14.82%

International Indicators
  Close %age
BSE-30 19,405.10 1.40
HANGSENG 23,166.22 1.30
NIKKEI 255 10,125.99 0.90
FTSE 5,550.95 -2.10
DJIA 11,052.49 -0.36
SSEC 2,778.87 -3.83
NASDAQ 2,525.22 -0.37
TASI 6332.43 0.35
KSE(Kuwait) 6,914.4 0.66
BSE 1,438.87 0.83
MSM 6,602.95 0.31

SCRA
Nov 26, 2010 -3.24
Nov, 2010 56.47
YTD (FY11) mn 161.02

Money Market Updates
6m T-bill 3-Nov-10 13.1099%
12m T-bil 3-Nov-10 13.2353%
3m KIBOR 13.14%
6m KIBOR 13.41%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 114.03
PKR/GBP 134.37
PKR/USD 86.1
PKR/OMR 220.9

Commodities
Oil $85.17/barrel
Change in % 1.03
Gold $1365.2/ounce
Change in % 0.19

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 Oct $(1.23)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 29, 2010
Funds Offer Redemption
POAIIF 51.6940/- 51.1771/-
Daily Return 8.58%
POIAAF 57.86/- 56.41/-
Daily Return -2.16%
POAAAF 56.69/- 55.27/-
Daily Return -8.80%
POAF 10.20/-
Daily Return -66.91%
*Daily Returns are calculated as per MUFAP guidelines

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

SBP raises policy rate by 50 bps to 14 percent
State Bank of Pakistan (SBP) has decided to raise its policy rate by 50 basis points to 14 percent with effect from Tuesday (Nov 30). This decision was taken at a meeting of SBP's Central Board of Directors held in Lahore ; with SBP Governor Shahid H. Kardar in the chair, said SBP statement here on Monday. more... (BR)

EU tariff cuts to help economy, says Fahim
The EU decision to grant Pakistan tariff concessions on 75 tariff lines would help the country to revive the economy in post flood situation. This was stated by the Federal Minister for Commerce Makhdoom Amin Fahim while talking to his Swedish counterpart Eva Bjorling who met with the Minister along with a sixteen member trade delegation in the Ministry of Commerce on Monday. more... (TFD)

Businessmen against lending to govt
Industrialists and traders have urged the central bank to avoid lending to the government above the set limit because excessive borrowing by the government was said to be the cause of high inflation. “The industries are taking the brunt of higher discount rate regime in the country,” said Zikarya Usman, vice president of Federation of Pakistan Chambers of Commerce & Industry (FPCCI). more... (TN)

 

 

 

 

 

 


Politics

Zardari ‘dirty', Nawaz ‘dangerous': Prince Nahyan
Wikileaks diplomatic cables have revealed that the Crown Prince of Abu Dhabi Mohammed bin Zayed bin Sultan al-Nahyan had described President Asif Ali Zardari as “dirty” but “not dangerous” and Nawaz Sharif as “dangerous” but “not dirty”. According to the leaked documents, the United States has told France that Israel could strike Iran without US military support but the operation might not be successful. more... (TN)

WikiLeaks claims Saudi King urged US to attack Iran
King Abdullah of Saudi Arabia urged the United States to attack Iran to destroy its nuclear programme, according to US documents revealed by WikiLeaks, published by the Guardian newspaper Sunday. A cable to Washington from the US embassy in Riyadh recorded the king's "frequent exhortations to the US to attack Iran and so put an end to its nuclear weapons program." more... (BR)

Pakistan, a private nightmare for Obama
US President Barack Obama considers Pakistan as his “private nightmare”, a front-line ally in the war against terrorism that could surprise the whole world waking up one morning to hear that the country had been taken over by the extremists. more... (TN)

 

 

 

 

 

 

 

Sector Briefing

PSO to suffer most after rate hike
Pakistan State Oil (PSO) stands to be the biggest loser in the petroleum industry with rise in the discount rate, analysts said on Monday. The financial charges of the state-run petroleum supplier on over Rs27 billion short term borrowings will increase with the hike in discount rate to 14 percent, they said. more... (TN)

Gas crisis may deepen in coming weeks: OGDC fails to revive Qadirpur field

Pakistan's gas crisis is likely to deepen in the coming weeks as the Oil and Gas Development Company (OGDC) has failed to revive the Qadirpur gas field even after spending around $30 million (Rs 2.5 billion) on its rescue plan by installing 14 compressors. more (BR)

Export price for Kabul unrealistic: closure of 50 percent cement units feared

Cement exports to Afghanistan are grossly under-valued due to intense competition, according to industry sources here. They told Business Recorder here on Saturday that $42 per ton price quoted for export to Afghanistan is not realistic. more... (BR)

Government set to increase oil prices
The government is all set to increase oil price in line with the hike in global oil prices effective December 1, 2010. Oil and Gas Regulatory Authority (Ogra) will notify the price rise today (Tuesday). more... (BR)

 

KSE Notices
 
 

JS Investments Limited
The Extraordinary General Meeting of JS Investments to be held on Dec 27, 2010. 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.