Dec 23, 2010
KSE-100 Index
Previous Index 11,825.06
Current Index 11,848.62
Change % 0.19%
YTD (CY10) 26.22%
YTD (FY11) 21.87%

International Indicators
  Close %age
BSE-30 20,015.80 -0.22
HANGSENG 23,045.19 0.22
NIKKEI 255 10,346.48 -0.20
FTSE 5,983.49 0.53
DJIA 11,559.49 0.23
SSEC 2,862.44 -1.41
NASDAQ 2,671.48 0.15
TASI 6,609.53 0.06
KSE(Kuwait) 6,865.80 0.68
BSE 1,408.07 -1.10
MSM 6,718.81 0.13

Dec 21, 2010 -2.13
Dec, 2010 30.81
YTD (FY11) mn 193.54

Money Market Updates
6m T-bill 15-Dec-10 13.39%
12m T-bil 15-Dec-10 13.69%
3m KIBOR 13.42%
6m KIBOR 13.61%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 112.71
PKR/GBP 132.84
PKR/USD 85.8
PKR/OMR 220.69

Oil $90.67/barrel
Change in % 1.18
Gold $1,388.70/ounce
Change in % -0.11

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 22, 2010
Funds Offer Redemption
POAIIF 51.9735/- 51.4538/-
Daily Return 8.81%
POIAAF 60.53/- 59.02/-
Daily Return -86.38%
POAAAF 59.02/- 57.54/-
Daily Return -101.21%
POAF 10.39/-
Daily Return 6.15%
*Daily Returns are calculated as per MUFAP guidelines

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

Import of 263 non-FTA items: China withdraws offer
China has reportedly withdrawn its unilateral offer to facilitate import of an additional 263 items from Pakistan out of Free Trade Agreement (FTA), sources in Commerce Ministry told Business Recorder . In the middle of current year, Commerce Secretary Zafar Mahmood had announced before the Advisory Council of Trade Policy that China would facilitate import of a number of additional items out of FTA. more... (BR)

5M services trade gap narrows 19pc
Country's services trade deficit dropped 18.5 per cent in first five-month of fiscal year-2011 over the same period of previous year. Trade gap in services stood at $1.02 billion in July-November 2010 against $1.26 billion in the corresponding period of previous fiscal, according to State Bank of Pakistan. more... (TFD)

KESC seeks cut in power tariffs
Karachi Electric Supply Company (KESC) has submitted to National Electric Power Regulatory Authority (NEPRA) an application to lower power tariffs by ten paisas. The company's bid to reduce power tariffs is meant for the month of November, for which Nepra will hold a meeting on December 29 media reported. more... (TFD)

Gulf states' 2011 growth outlook improves slightly
Prospects for growth in Gulf Arab economies in 2011 have improved slightly from forecasts three months ago, a Reuters poll showed on Tuesday, as rising oil prices and generous government spending underpin economic recovery more... (TN)




Consensus at work; NA adopts 19th Amendment
Relying on the consensus of an all-party parliamentary committee, the National Assembly made a quick work of a constitution amendment bill that meets most of the Supreme Court`s concerns over a new mode of appointing superior judiciary, but was denied unanimity in approving it with a single negative vote cast in an apparent punishable party defiance. more... (D)

JUI-F against toppling govt of Balochistan
A meeting of the Central Working Committee of JUI-F, presided over by Maulana Fazlur Rehman, endorsed the party's decision to quit the federal government in protest against the sacking of its minister Azam Khan Swati, but decided to continue to be in the PPP-led coalition government in Gilgit-Baltistan. more... (D)

Ex-CPO Pindi takes U-turn in BB case
Former CPO Rawalpindi Saud Aziz, involved in security arrangements and in subsequent investigation of assassination of former Prime Minister Benazir Bhutto, has taken U-turn on his statement regarding removal of security before the sad incident took place, Geo News reported Thursday. more... (TN)










Sector Briefing

Pepco expenditures: MoF stopped from granting blind approval
The Cabinet has imposed restrictions on the Finance Ministry on blind approvals of expenditures for the cash hungry Pakistan Electric Power Company (Pepco), sources told Business Recorder . Sources said that Pepco was made dysfunctional only rhetorically in an attempt to sideline Managing Director Tahir Basharat Cheema. more... (BR)

Pakistani IT firm 'on top of the world' in Blackberry apps
Photo editing software developed by Pakistani technology firm Five Rivers became the best selling paid-for application for the Blackberry, the firm said Wednesday. Lahore-based Five Rivers said its Photo Editor Suite had hit the top spot across all sectors on Blackberry's AppWorld store. more (BR)

DAP price up Rs100/bag
Engro has increased the prices of DAP fertiliser by Rs100 per bag to Rs3000 per 50kg bag from Rs2900 per bag as per industry sources revealed. The increase in price was mainly on the back of the upswing in international DAP prices, which have gone up to nearly $600 per tonne. According to industry sources, trial production has started at its new urea plant. Plant is expected to formally commence production in January 2011. more... (TFD)


KSE Notices

Habib Sugar Mills Limited
The company announced the financial results for the year ended Sep 30, 2010 with the PAT: PKR534.53mn EPS: PKR4.46 Dividend: PKR1.25/Share more... (KSE)




(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily, (KSE) Karachi Stock Exchange
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.