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Dec 22, 2010
 
Statistics
KSE-100 Index
Previous Index 11,843.65
Current Index 11,825.06
Change % -0.16%
YTD (CY10) 25.97%
YTD (FY11) 21.63%

International Indicators
  Close %age
BSE-30 20,060.32 0.86
HANGSENG 22,993.86 1.57
NIKKEI 255 10,370.53 1.50
FTSE 5,951.80 1.09
DJIA 11,533.16 0.48
SSEC 2,903.34 0.91
NASDAQ 2,667.61 0.68
TASI 6,605.47 0.15
KSE(Kuwait) 6,819.50 0.32
BSE 1,423.69 -0.24
MSM 6,709.86 0.38

SCRA
Dec 20, 2010 9.79
Dec, 2010 32.95
YTD (FY11) mn 195.67

Money Market Updates
6m T-bill 15-Dec-10 13.39%
12m T-bil 15-Dec-10 13.69%
3m KIBOR 13.41%
6m KIBOR 13.61%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 113.11
PKR/GBP 133.53
PKR/USD 85.83
PKR/OMR 220.69

Commodities
Oil $89.61/barrel
Change in % -0.36
Gold $1,390.2/ounce
Change in % 0.09

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 21, 2010
Funds Offer Redemption
POAIIF 51.9615/- 51.4419/-
Daily Return 8.81%
POIAAF 60.68/- 59.16/-
Daily Return 235.96%
POAAAF 59.18/- 57.70/-
Daily Return 44.33%
POAF 10.39/-
Daily Return 12.29%
*Daily Returns are calculated as per MUFAP guidelines

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

Repatriation of profit rises 3.3pc
Repatriation of profit by the foreign companies has increased 3.3 per cent in first five-month of the fiscal year 2011, according to the State Bank of Pakistan data on sector-wise repatriation of profit. From July to November 2010, the repatriation of profit by foreign companies in Pakistan surged to $288 million against $279 million witnessed in the corresponding period last year.more... (TFD)

30k pounds raised for Pak flood in Derby
A fund raising event in the northeast English city of Derby raised 30,000 pounds for the victims of Pakistan floods. Organisers from a local voluntary group, Reflection Project raised the money for the rehabilitation work carried out by Minhaj Welfare Foundation (MWF) in the different areas affected by the summer floods. more... (TN)

Tehran trumpets $6.5 billion gas contracts
Iran has signed new contracts in the gas sector worth $6.5 billion; a senior official was quoted as saying on Tuesday, without giving precise details. In a statement designed to show Iran's gas sector was not hampered by international sanctions, Javad Oji, head of the National Iranian Gas Co (NIGC) said several big pipeline and refinery deals had been signed in recent weeks. more... (TFD)

 

 

 

 

 

 


Politics

MQM, JI discuss political situation
Jamaat-e-Islami and MQM Tuesday discussed the current political situation and agreed that all the political parties should strive to meet the challenges confronting the country. This was stated by MQM Deputy Convenor and Federal Minister Dr Farooq Sattar and JI Secretary General Liaqat Baloch while talking to the media at Mansoorah after a meeting between delegations of two parties. more... (TN)

Nineteenth Amendment Bill to address concerns of SC
A proposed constitution Nineteenth Amendment, meeting most of the Supreme Court's concerns over a new mode of appointing the superior judiciary, came to parliament on Tuesday in the form of an all-party committee's unanimous report and a draft bill presented to the National Assembly and hailed as historic across party lines. more... (D)

Shaikh says no rush on RGST
Federal Finance Minister Dr Hafeez Shaikh said Tuesday that government is in no hurry to get RGST passed from the National Assembly, added it would be approved only with consensus by taking all the political parties on board. Meanwhile it is learnt here that Government has officially asked 9-month time from the Fund in order to get RGST passed. more... (TFD)

 

 

 

 

 

 

 

Sector Briefing

OGDCL losses hit $2bn in 3yrs
Oil and Gas Development Company (OGDCL) has suffered the losses of over $2 billion during the three years due to delay in development work to generate the revenue. This was informed by the Managing Director of OGDCL in the meeting of Senate Standing Committee on Petroleum and Natural Resources held here on Tuesday. more... (TFD)

Govt. plans PSM's privatization
The government is all set to partially privatize the Pakistan Steel Mills (PSM) by outsourcing its management along with floating 10 to 20 percent shares to Chinese and Russians. more (TN)


SBP approves Atlas Bank, Summit Bank merger
The State Bank of Pakistan has accorded sanction to the scheme of amalgamation of Atlas Bank Ltd with and into Summit Bank Ltd (SBL), formerly Arif Habib Bank Ltd under Banking Company Ordinance 1962.
.more... (BR)

 

KSE Notices
 
 

Gharibwal Cement Limited
The Board of Directors meeting of the company to be held on Dec 22, 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.