Jan 13, 2011
KSE-100 Index
Previous Index 12,267.21
Current Index 12,281.24
Change % 0.11%
YTD (CY11) 30.83%
YTD (FY11) 26.32%

International Indicators
  Close %age
BSE-30 19,522.49 1.70
HANGSENG 24,125.61 1.54
NIKKEI 255 10,512.80 0.02
FTSE 6,050.72 0.60
DJIA 11,755.40 0.72
SSEC 2,805.40 0.48
NASDAQ 2737.33 0.75
TASI 6,717.18 0.24
KSE(Kuwait) 6,948.40 -0.03
BSE 1,426.76 0.13
MSM 6,983.36 0.94

Jan 11, 2011 26.42
Jan, 2011 -10.50
YTD (FY11) mn 184.89

Money Market Updates
6m T-bill 12-Jan-11 13.37%
12m T-bil 12-Jan-11 13.50%
3m KIBOR 13.49%
6m KIBOR 13.67%
10 yrs PIB 14.26%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 111.64
PKR/GBP 134.27
PKR/USD 85.85
PKR/OMR 222.69

Oil $91.92/barrel
Change in % 0.80
Gold $1,385.5/ounce
Change in % 0.07

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 12, 2011
Funds Offer Redemption
POAIIF 52.2469/- 51.7244/-
Daily Return 9.61%
POIAAF 62.96/- 61.39/-
Daily Return 125.29%
POAAAF 60.65/- 59.13/-
Daily Return 24.71%
POAF 10.53/-
Daily Return 12.12%
*Daily Returns are calculated as per MUFAP guidelines

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

Cos profits to up 20pc this yr
Where robust foreign buying remains the major attraction for local bourses, corporate-earning is the other major factor that will cheer market-players this year. After 4 years (2007-2010), listed companies' profits are likely to post double digit earnings growth of 20 per cent in 2011. The growth will be led by energy and banks, followed by cement and consumer sectors. 20 per cent earnings growth estimate for 2011 excludes heavy weight OGDC, which is misleading the index. more... (TFD)

Desubsidising oil price vowed
Pakistan's ambassador to the United States defended government's decision last week to reverse an unpopular increase in fuel prices, insisting Pakistan has not abandoned efforts to reduce subsidies and raise taxes to bring its budget deficit under control. more... (TFD)

Tax evasion cases in fiscal year 2010 up 64.21 percent
There is a sudden increase in the number of under-assessment of income and tax evasion cases during 2009-10 as compared to the same period last fiscal year, reflecting massive misuse of the Universal Self Assessment Scheme (USAS). It is learnt here on Wednesday that the Directorate General of Internal Audit Inland Revenue is surprised over such a major increase in cases of under-assessment of income. more... (BR)






SECP takes brokerage house to court
The Securities and Exchange Commission of Pakistan (SECP) has filed a criminal complaint in a court against Eastern Capital Limited, ex-member of the Karachi Stock Exchange (KSE) and all those, including its director, involved in non-transfer of shares/funds and unauthorized pledges of client's shares and other prohibited activities under Section 24(2) of the Central Depositories Act 1997 as well as offences under relevant provisions of the Pakistan Penal Code (PPC). The warrants for all the accused have been issued. more... (TFD)

Corruption charges: Transparency International chief faces yet another probe

The Federal Investigation Agency (FIA) has initiated a nother inquiry against chairman of the Pakistan chapter of the Transparency International Syed Adil Gilani, The Express Tribune learnt reliably on Wednesday. more... (ET)

NP's delegation meets MQM
A five-member delegation of National Party (NP), led by vice-president Mir Hasil Bazinjo, held a meting with MQM's Deputy Convener Farooq Sattar here in metropolis and appealed for support of latter's party on issue of missing persons in Balochistan, Geo News reported Wednesday. more... (TN)






Sector Briefing

Rising incidence of NPLs: over 43 percent decline in recovery
Recovery against non-performing loans (NPLs) by banks and DFIs has been on a significantly slow pace as it registered a noticeable decline of 43.39 percent in the quarter ended on September 30, 2010. Sources in banking sector told Business Recorder on Wednesday that NPLs of banking system reached an all-time high level of Rs 508.832 billion in September 2010 from Rs 475.946 billion in June 2010, mainly due to floods, high interest rates and slow economic activities. more... (BR)

Bhasha dam project in dire straits: US rejects call for funds
Pakistan is facing problems in arranging funds for much-trumpeted Bhasha dam hydropower project as the Untied States, following multinational financial agencies such as the World Bank, has declined Pakistan's call for funds for this key project and help it plug growing power shortfall. more... (BR)

July - December 2010: nine percent decline in refineries' output
The country's refinery production has declined by 9 percent on year-on-year basis to stand at 3.79 million tons in the last six months (July-December) of 2010. Moreover, GRM's in the second quarter of FY11 remained weak on quarter-on-quarter basis suggesting a dull outlook for the sector earnings in the second quarter, analysts said. more... (BR)


KSE Notices

Attock Refinery Limited
The Board of Directors of the company will be held on January 27, 2011 to discuss the financial accounts. 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.