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Dec 08, 2010
 
Statistics
KSE-100 Index
Previous Index 11,440.07
Current Index 11,431.01
Change % -0.08%
YTD (CY10) 21.77%
YTD (FY11) 17.77%

International Indicators
  Close %age
BSE-30 19,934.64 -0.23
HANGSENG 23,428.00 0.80
NIKKEI 255 10,141.10 -0.30
FTSE 5,808.45 0.70
DJIA 11,359.46 -0.02
SSEC 2,847.78 0.35
NASDAQ 2,598.49 0.14
TASI 6,436.64 0.56
KSE(Kuwait) 6,867.70 0.03
BSE 1,429.44 0.51
MSM 6,717.26 0.30

SCRA
Dec 03, 2010 8.76
Dec, 2010 9.68
YTD (FY11) mn 172.41

Money Market Updates
6m T-bill 02-Dec-10 13.39%
12m T-bil 02-Dec-10 13.67%
3m KIBOR 13.36%
6m KIBOR 13.59%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 114.59
PKR/GBP 135.25
PKR/USD 85.9
PKR/OMR 220.03

Commodities
Oil $87.92/barrel
Change in % -1.32
Gold $1,395.80/ounce
Change in % -1.84

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 $ 1,1051
Population 171.25mn
US$ Reserves (Dec 3, 2010) $16.74 bn
Trade Balance Oct $(1.23)bn
Curr. A/C (Jul-Oct-10) $(533)mn
Remittances (July - Oct 10) $3.5bn
Foreign Investment (Jul - Oct 10) $569mn
All Sch. Banks Deposit Base (Nov 19, 2010) Rs679.65bn

NAVs and Returns
as of Dec 07, 2010
Funds Offer Redemption
POAIIF 51.7890/- 51.2711/-
Daily Return 9.85%
POIAAF 58.49/- 57.03/-
Daily Return 6.40%
POAAAF 57.60/- 56.16/-
Daily Return -25.98%
POAF 10.20/-
Daily Return 12.94%
*Daily Returns are calculated as per MUFAP guidelines

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

Rental power projects: Supreme Court asks counsel to return advance payment
The Supreme Court on Tuesday asked counsels for Walters Power International to consult the concerned authorities and record a statement on Wednesday (today) about return of total amount along with mark up which they had taken as advance payment over Nadudero-II and Guddu power projects. more... (BR)

Private wheat export ban off
The Economic Coordination Committee (ECC) of the Cabinet decided Tuesday to allow the private sector to export one million tonne of wheat — lifting a three-year ban — after a bumper crop led to a market surplus. The Economic Coordination Committee of the Cabinet met here with the Federal Minister for Finance, Dr Abdul Hafeez Shaikh in the chair. more... (TFD)

Domestic debt up at record Rs5.2tn
Pakistan outstanding stock of domestic debt and liabilities has soared by 6.5 per cent or Rs341.6 billion during the first four months of current fiscal year (4MFY11), according to the State Bank of Pakistan (SBP). Domestic debt and liabilities recorded at a historical level of Rs5.23 trillion during the period, from Rs4.89 trillion on June 30, 2010, due to a significant rise in budget deficit. Similarly, domestic debt alone rose by Rs354.7 billion at Rs5.01 trillion in 4MFY11 as against Rs4.65 trillion in June 2010. more... (TFD)

 

 

 

 

 

 

 


Politics

Karzai advocates Zardari before US: Leaks
Afghan President Hamid Karzai urged the Senators to secure strong U.S. support for Pakistan President Zardari in his efforts to free his country from extremism, Wikileaks cables revealed. According to the cable sent to Washington from US embassy in Kabul, accompanied by the Charge d'Affaires, Senators John McCain, Joseph Lieberman and Lindsey Graham dined with President Karzai at the Presidential Palace December 6 2008. more... (TN)

Kayani trying to distance army from Musharraf
This has become increasingly urgent because of the expanding insurgency in the tribal areas and attacks against GOP targets. We need to bring more discipline to the Coalition Support Funds (CSF), FMF and IMET programs we established in the wake of Sept 11 so they better support our counter-terrorism objectives. more... (D)

Cables reveal how Musharraf was eased out
A series of political and strategic blunders by former president Gen Pervez Musharraf had given the cause and justification to both Asif Ali Zardari and new army chief Gen Ashfaq Parvez Kayani to work separately for his “honourable exit”, a couple of freshly released WikiLeaks cables reveal. In two separate cables written by the-then US ambassador to Islamabad, Anne W. Patterson, details have been given about how the new army chief, General Kayani, and leader of the majority party in the new National Assembly, Asif Zardari, had systematically started to distance themselves from President Musharraf. more... (D)

 

 

 

 

 

 

Sector Briefing

FO supplies distribution margin: Pepco lodges protest with PSO over one percent increase
Pakistan Electric Power Company (Pepco) has lodged a protest with Pakistan State Oil (PSO) over increase in distribution margin from 2.75 to 3.75 percent for furnace oil supplies which may give rise to serious audit objections, sources close to Managing Director, Pepco told Business Recorder. more... (BR)

Rs 7.5 billion provided for textile policy initiatives

The Ministry of Finance has provided Rs 7.5 billion on account of textile policy (2010-14) initiatives. According to documents available with Business Recorder, Rs 4.2 billion, out of Rs 7.5 billion, has been released to the State Bank of Pakistan for disbursement on different schemes announced under the textile policy. The remainder amount will be disbursed in the next half of the year. more (BR)

Nov cement sales decline 2.5pc YoY

After witnessing massive decline in August sales and devastating floods in the country, cement sector managed to improve its performance in the month of November despite a 2.5 per cent decline in sales on YoY basis. The reason behind improvement was surge in local cement dispatches by 1.2 per cent to 1.73 million tonnes against 1.71 million tonnes previously, according to the data released by All Pakistan Cement Manufacturers Association (APCMA). more... (TFD)

 

 

KSE Notices
 
 

Mehran Sugar Mills Limited
The company announced the financial results for the year ended Sep 30, 2010 with the PAT: PKR241.98mn EPS: PKR16.93 Cash Dividend PKR1.00 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.