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Dec 15, 2010
 
Statistics
KSE-100 Index
Previous Index 11,596.69
Current Index 11,672.64
Change % 0.65%
YTD (CY10) 24.35%
YTD (FY11) 20.06%

International Indicators
  Close %age
BSE-30 19,799.19 0.55
HANGSENG 23,431.19 0.49
NIKKEI 255 10,316.77 0.20
FTSE 5,891.21 0.50
DJIA 11,476.54 0.42
SSEC 2,924.34 0.25
NASDAQ 2,627.72 0.11
TASI 6,523.01 0.22
KSE(Kuwait) 6,788.30 0.02
BSE 1,427.14 0.20
MSM 6,650.73 -0.15

SCRA
Dec 13, 2010 1.02
Dec, 2010 33.06
YTD (FY11) mn 195.79

Money Market Updates
6m T-bill 02-Dec-10 13.39%
12m T-bil 02-Dec-10 13.67%
3m KIBOR 13.40%
6m KIBOR 13.60%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 114.89
PKR/GBP 136.11
PKR/USD 85.89
PKR/OMR 220.69

Commodities
Oil $87.64/barrel
Change in % -0.89
Gold $1,395.50/ounce
Change in % -0.73

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 - Nov 10) $4.43bn
Foreign Investment (Jul - Oct 10) $569mn
All Sch. Banks Deposit Base (Nov 19, 2010) Rs679.65bn

NAVs and Returns
as of Dec 14, 2010
Funds Offer Redemption
POAIIF 51.8765/- 51.3577/-
Daily Return 29.44%
POIAAF 59.64/- 58.15/-
Daily Return -68.92%
POAAAF 58.74/- 57.27/-
Daily Return 6.37%
POAF 10.37/-
Daily Return 11.14%
*Daily Returns are calculated as per MUFAP guidelines

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

Government reliance jeopardising monetary stability: SBP
The government reliance on banking system for financing need is a key risk factor in achieving the basic objective of the financial system in Pakistan jeopardising the monetary stability, long-term growth and investment, says the State Bank of Pakistan's Financial Stability Review 2009-10, released on Tuesday. more... (BR)

Financial system's size rose to Rs 9.2 trillion by June 2010: SBP
The country's financial system's size, in terms of assets, increased to Rs 9.2 trillion by end-June 2010 showing a robust growth of 20 percent from December 2008 level of Rs 7.71 trillion, says the State Bank's Financial Stability Review 2009-10, released on Tuesday. more... (BR)

5M net FIs fall 28pc to $746mn
Net foreign investment inflow in the country dropped 28.4 per cent to $745.8 million in first five months of fiscal year 2011 compared with $1.04 billion in same period last year, as per the State Bank of Pakistan. Out of total foreign investment, foreign direct investment (FDI) depicted a decline of 21.5 per cent to $573.3 million in 5MFY11 as compared to $730.4 million in 5MFY10. more... (TFD) .

FIPI inflow $19.51mn in Equity Market
Massive inflow of $19.51mn of FIPI was recorded in equity market on Dec 14, 2010.

 

 

 

 

 

 

 


Politics

Fazl ur Rehman to quit government
Reacting sharply to the dismissal of party leader from federal cabinet Jamiat Ulema-e-Islam (JUI-F) chief Maulana Fazlur Rehman Tuesday announced his decision to quit the coalition government. Maulana Fazlur Rehman announced the decision after chairing an emergency meeting of Majlis-e-Shura held to review termination of Azam Swati, Federal Minister for Information Technology. more... (BR)

PM calls for action against corruption
Prime Minister Syed Yousuf Raza Gilani has reiterated the commitment of his government to take all measures to eradicate corruption from government institutions to ensure the good governance. The government of PPP, he added is trying to solve the problems of the people, by promoting the culture of good governance. more... (TFD)

Bank accounts of Kazmi, officials frozen
The Federal Investigation Agency (FIA) on Tuesday froze the bank accounts of sacked minister Hamid Saeed Kazmi and four officials of the religious affairs ministry and put their names on the Exit Control List (ECL), barring them from travelling abroad. According to an FIA official, the action has been taken against Mr Kazmi, Religious Affairs Secretary Agha Sarwar Qazilbash, Haj Operations Director-General Rao Shakeel, Joint Secretary Raja Aftab Islam and Haj Director Behrullah Hazarvi and their names have also been put on the Exit Control List (ECL), barring them from travelling abroad. more... (D)

 

 

 

 

 

 

Sector Briefing

BP agrees to sell upstream interests in Pakistan to UEG
BP has announced that it has entered into an agreement to sell almost all of its exploration and production assets in Pakistan to United Energy Group Limited (UEG). According to a press release issued on Tuesday, the UEG will pay BP a total of $775 million in cash for these assets which consist of nine producing and exploration blocks in Sindh province and four offshore exploration blocks in the Arabian Sea. more... (BR)

Growing circular debt: oil drilling may slow down

Due to growing circular debt, the drilling activities in the country may slow down and the oil production is expected to remain range bound during the current fiscal year, analysts said. They said that circular debt is a big concern for Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDC) as being two largest state owned entities, risk of circular debt is higher on these two companies. more (BR)


Gas tariff hike: Ogra, SNGPL and SSGC enter legal battle
Oil and Gas Regulatory Authority (Ogra), Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company (SSGC) have entered a legal battle as the gas utilities have challenged the decision on gas tariff hike in Lahore High Court (LHC), Business Recorder has learnt. more... (BR)

 

 

KSE Notices
 
 

Grays Leasing Limited
The notice of Extra Ordinary General Meeting of the company have been scheduled on Jan 05, 2011 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.