Jan 31, 2011

KSE-100 Index
Previous Index 12,477.00
Current Index 12,462.70
Change % -0.11%
YTD (CY11) 3.66%
YTD (FY11) 28.19%

International Indicators
  Close %age
BSE-30 18,395.97 -1.54
HANGSENG 23,617.00 -0.70
NIKKEI 255 10,360.34 -1.10
FTSE 5,881.37 -1.40
DJIA 11,823.70 -1.39
SSEC 2,752.75 0.23
NASDAQ 2,686.89 -2.48
TASI 6,421.97 2.47
KSE(Kuwait) 6,822.00 -1.76
BSE 1,451.49 -1.43
MSM 6,731.77 -3.02

Jan 28, 2011 0.55
Jan, 2011 2.90
YTD (FY11) mn 198.29

Money Market Updates
6m T-bill 26-Jan-11 13.71%
12m T-bil 26-Jan-11 13.88%
3m KIBOR 13.38%
6m KIBOR 13.90%
10 yrs PIB 14.20%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 116.79
PKR/GBP 136.13
PKR/USD 85.88
PKR/OMR 221.26

Oil $85.28/barrel
Change in % 5.5%
Gold $1,338.50/ounce
Change in % -0.54

CPI Gen. - YoY (Dec-10) 15.5%
CPI Gen. - FY11 (Jul- Dec 10) 14.6%
NFNE Core INFL - YoY (Dec 10) 9.5%
NFNE Core INFL - FY11 (Jul- Dec 10) 9.6%

Economic Indicators
GDP Growth FY10E 4.10%
Per Capita Income $ 1,1051
Population 174.86mn
US$ Reserves (Jan 8, 2011) $17.09 bn
Trade Balance Jul - Dec $(8.15)bn
Curr. A/C (Jul-Nov-10) $(504)mn
Remittances (July - Dec 10) $5.29bn
Foreign Investment (Jul - Dec 10) $746mn
All Sch. Banks Deposit Base (Nov 19, 2010) Rs679.65bn

NAVs and Returns
as of Jan 29, 2011
Funds Offer Redemption
POAIIF 52.3741/- 51.8504/-
Daily Return 9.82%
POIAAF 63.81/- 62.21/-
Daily Return -46.88%
POAAAF 61.20/- 59.67/-
Daily Return 61.27%
POAF 10.38/-
Daily Return -5.48%
*Daily Returns are calculated as per MUFAP guidelines

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

Lending rates will still go up: SBP maintains its key policy rate at 14 percent
Borrowing cost of private sector is bound to go up as the government shifts, albeit reluctantly, its borrowings for budgetary needs towards the commercial banks despite State Bank of Pakistan's decision to maintain its policy rate at 14 percent. more... (BR)

Government warned against subsidising POL prices
While terming the oil pricing issue as being politicised, a former chairman of Federal Board of Revenue (FBR), Abdullah Yusuf, has warned the government that decision to keep oil prices unchanged despite rising trend in global market would further worsen the circular debt issue. "The step would prove to be a ''bombshell'', leading to complete collapse of electricity and oil supply chain across the country," he said. more... (BR)

Only monetary policy cannot control inflation
Industrialists and economists have praised the State Bank of Pakistan (SBP) for keeping the interest rate unchanged, saying it indicates the growing realisation that high inflation cannot be controlled only through monetary policy . more... (ET)








Altaf backs demand for more provinces
Muttahida Qaumi Movement chief Altaf Hussain has strongly supported a demand for more provinces and said that if the Hazara or Seraiki or other people want provinces of their own they should get them. more... (D)

Nawaz cancels UK visit

Chief of his own faction of the Pakistan Muslim League (PML-N), Nawaz Sharif on Sunday postponed his scheduled tour to the UK. Sharif was supposed to leave on Monday on a private visit but he cancelled his plans owing to his current engagements. more... (ET)

Davis is entitled to full criminal immunity: US embassy
After having demanded 'immediate release' of Ramyond Davis, facing double-murder charges in Lahore, the US embassy on Sunday admitted he was member of 'technical and administrative' staff but had immunity under the Vienna Convention on Diplomatic Relations 1961. more... (BR)







Sector Briefing

12-year ''energy mix'' plan suggested: over $100 billion could be saved on oil & gas import
Pakistan could save over $100 billion being spent on the import of oil and gas, if the government devises an ''energy mix'' utilisation plan for next 12 years. Pakistan needs to increase nuclear, hydel, coal-based power projects in the country''s energy mix, encourage/facilitate private sector participation and foster development of renewable energy sources, energy experts said. more... (BR)

High-efficiency irrigation system to start from February
Federal Food and Agriculture Minister Nazar Mohammad Gondal has said that a high-efficiency irrigation system would kick off from next month. “The government is committed to implementing the much-needed modern irrigation system to enhance agricultural productivity and save water in the face of depleting water resources,” more... (ET)

Parliamentary body meeting: decision on oil prices hike likely today
The parliamentary committee on oil pricing is to meet on Monday to decide about increase in oil prices, it is learnt. According to sources, the Ministry of Petroleum is mulling to absorb the rising impact of petrol prices by about Rs 5 per litre by implementing the decision of the Economic Co-ordination Committee (ECC) to deregulate Inland Freight Equalisation Margin (IFEM). more... (BR)


KSE Notices

Attock Petroleum Limited
The company anounced the financial results for the half year ended on Dec 31, 2010 with the PAT: PKR1.74bn and EPS of PKR:25.22 and Cash Dividend PKR:11.50. more... (KSE)

Pakistan Oilfields Limited
The company anounced the financial results for the half year ended on Dec 31, 2010 with the PAT: PKR5.20bn and EPS of PKR:21.99 and Cash Dividend PKR:10.00. more... (KSE)

Habib Sugar Mills Limited
The company anounced the financial results for the quarter ended on Dec 31, 2010 with the PAT: PKR75.38mn and EPS of PKR:0.63. 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.