Jan 07, 2011
KSE-100 Index
Previous Index 12,140.26
Current Index 12,323.47
Change % 1.51%
YTD (CY10) 31.28%
YTD (FY11) 26.75%

International Indicators
  Close %age
BSE-30 20,301.10 -0.96
HANGSENG 23,786.30 0.12
NIKKEI 255 10,529.80 1.40
FTSE 6,019.51 -0.40
DJIA 11,697.30 -0.22
SSEC 2,852.65 1.58
NASDAQ 2,709.89 0.28
TASI 6,696.55 -0.05
KSE(Kuwait) 6,975.60 -0.34
BSE 1,430.04 0.45
MSM 6,926.16 0.42

Jan 05, 2010 -23.05
Jan, 2011 -14.57
YTD (FY11) mn 180.81

Money Market Updates
6m T-bill 29-Dec-10 13.41%
12m T-bil 29-Dec-10 13.73%
3m KIBOR 13.47%
6m KIBOR 13.65%
10 yrs PIB 14.31%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 115.10
PKR/GBP 134.60
PKR/USD 85.85
PKR/OMR 220.90

Oil $88.70/barrel
Change in % 1.72
Gold $1,370.1/ounce
Change in % -0.40

CPI Gen. - YoY (Nov-10) 15.5%
CPI Gen. - FY11 (Jul- Nov 10) 14.4%
NFNE Core INFL - YoY (Nov 10) 9.5%
NFNE Core INFL - FY11 (Jul- Nov 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 Jan 5, 2011
Funds Offer Redemption
POAIIF 52.1659/- 51.6442/-
Daily Return 9.39%
POIAAF 62.40/- 60.84/-
Daily Return 247.64%
POAAAF 60.32/- 58.81/-
Daily Return 212.25%
POAF 10.51/-
Daily Return 4.98%
*Daily Returns are calculated as per MUFAP guidelines

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

Government reverses fuel price rise
The government in the face of opposition pressure was left with no option but to reverse the recent increase in petroleum product prices. Prime Minister Syed Yousuf Raza Gilani made this announcement while addressing the National Assembly. He said, "I think that this task was extremely difficult and it became more difficult in the absence of support of political leadership. more... (BR)

Allegedly defaulted on delivery: centre provided list of eight sugar mills of influential politicians
The Trading Corporation of Pakistan (TCP) has provided a list of eight sugar mills of influential politicians to the federal government which allegedly defaulted on sugar delivery and led to sugar crisis in the country, official sources told Business Recorder here on Thursday. more... (BR)

Pakistan's foreign exchange reserves jump to $17.19 billion
The country's total liquid foreign reserves reached ever highest level of $17.19 billion because of payment of Collation Support Fund by US. According to the State Bank of Pakistan (SBP) that country's total liquid foreign reserves have posted an increase of $772.8 million to $17.197 billion on week ended on January 1, 2011 from $16.424 billion a week earlier.more... (BR)






PML-N to call for fresh polls sooner or later
The Pakistan Muslim League-Nawaz has finally decided to push the ruling PPP towards an early election. A top PML-N leader told Dawn that the party was now ready to face any eventuality in its efforts aimed at forcing an early election. more... (D)

PM plans ‘90' visit to woo back MQM

Prime Minister Yousuf Raza Gilani will extend an olive branch to his government's disgruntled coalition partner, the Muttahida Qaumi Movement, during a meeting with its leaders at the party's Nine Zero headquarters in Karachi on Friday. more... (D)

MQM decides to rejoin govt
The Pakistan People's Party's (PPP) estranged ally, Muttahida Qaumi Movement (MQM) in a late night meeting decided to come back to the fold if the Prime Minister Gilani took concrete steps to remove its reservations, Geo News reported. more... (TN)




Sector Briefing

SBP fixes credit card, personal loan limit at Rs five million
The State Bank of Pakistan has directed banks and DFIs to ensure that overall credit card and personal loan limits availed by a person from all banks/DFIs in aggregate should not exceed five million rupees. For implementation, the SBP has amended certain provisions of Prudential Regulations for Consumer Financing with immediate effect. more... (BR)

Development budget halved
Secretary Finance Dr Farooq Masood has informed the Senate Standing committee for Communication that its development budget of Rs240 billion has been reduced to Rs120 billion because of financial crunch. As per details the Standing Committee presided over by chairman Wali Ahmed Badini was briefed by secretary finance Dr Farooq Masood that due to financial crunch the development funds of the ministries have been slashed. more... (TFD)

Pakistan''s plea to EU Commission: redirect half of 114 million euros grant to budget support

The federal government has requested the European Union Commission to redirect half of 114 million euros grant allocated for reconstruction and rehabilitation of flood affected areas, for budget support, sources in the Economic Affairs Division disclosed. more... (BR)


KSE Notices

BYCO Petroleum Pakistan Limited
The BYCO Petroleum Pakistan has scheduled a board meeting which will be held on Monday Jan 17, 2011 to announce first quarterly performance of 2010-2011. 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.