Feb 02, 2011

KSE-100 Index
Previous Index 12,359.36
Current Index 12,273.38
Change % -0.70%
YTD (CY11) 2.09%
YTD (FY11) 26.24%

International Indicators
  Close %age
BSE-30 18,022.22 -1.70
HANGSENG 23,482.95 0.15
NIKKEI 255 10,274.50 0.40
FTSE 5,957.82 1.60
DJIA 12,040.20 1.25
SSEC 2,798.96 0.80
NASDAQ 2,751.19 1.89
TASI 6,373.17 0.24
KSE(Kuwait) 6,805.20 -0.79
BSE 1,459.04 0.70
MSM 6,808.81 -0.44

Jan 31, 2011 2.47
Jan, 2011 5.26
YTD (FY11) mn 200.75

Money Market Updates
6m T-bill 26-Jan-11 13.71%
12m T-bil 26-Jan-11 13.88%
3m KIBOR 13.68%
6m KIBOR 13.82%
10 yrs PIB 14.19%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 117.73
PKR/GBP 137.70
PKR/USD 85.75
PKR/OMR 220.50

Oil $90.85/barrel
Change in % -1.25%
Gold $1,342.90/ounce
Change in % 0.33

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-Dec 10) $26mn
Remittances (July - Dec 10) $5.29bn
Foreign Investment (Jul - Dec 10) $746mn
All Sch. Banks Deposit Base (Jan 21, 2010) Rs704.34bn

NAVs and Returns
as of Feb 01, 2011
Funds Offer Redemption
POAIIF 52.4014/- 51.8774/-
Daily Return 0.42%
POIAAF 63.13/- 61.55/-
Daily Return -188.78%
POAAAF 60.10/- 58.60/-
Daily Return -424.78%
POAF 10.40/-
Daily Return 71.79%
*Daily Returns are calculated as per MUFAP guidelines

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

Widening budget deficit key challenge for Pakistan: IMF
Pakistan should act swiftly to reduce its widening budget deficit, a senior IMF official said on Tuesday, as the government struggles to hammer out a political consensus to revive an economy battered by militancy and floods. Analysts say Pakistan's fiscal deficit is likely to exceed 7 percent of economic output -- as against the 4.7 percent target for fiscal 2010/11 -- partly due to delays in implementing key tax reforms encouraged by the International Monetary Fund. more... (BR)

Tax target and collection gap widens
The gap between the tax and collection target is continuously widening with every passing month, as the tax machinery could only generate Rs763 billion in seven months, which is less than half of the annual target, compelling the government to borrow money. more... (ET)

Pakistan needs to reprioritise its fiscal front: ADB study
Pakistan needs to reprioritise its fiscal front after recent floods in order to expand its fiscal space for reconstruction, a recent study of the Asian Development Bank (ADB) states. According to the study, 'Asian Development Outlook 2010 Update: the Future of Growth in Asia', the government of Pakistan in the budget for FY2011 has already emphasised its commitment to fiscal consolidation and policies needed to support a robust expansion of the economy. more... (BR)








Political, trade bodies seek end to operation in Balochistan
The coordination committee of seven political parties and a trade organisation has demanded of the government to stop a `military operation` in the province and recover all missing people, including political workers and students. The demands were made by the committee through several resolutions adopted at a seminar held at the Zarif Shaheed auditorium the other day on issues faced by Balochistan. more... (D)

National Assembly: Pakistan not to bow to US on Davis trial

Top administration officials on Tuesday made another attempt to assure the parliament that the government will not bow to pressure and will seek a fair trial of the American who killed two Pakistanis last week.. more... (ET)

NA staff named in housing scam
Some 12 officials of the National Assembly, including a brother of a serving Supreme Court judge, are alleged to have made millions by defrauding the National Assembly Housing Society in a newly-surfaced scam, highly-placed sources told The Express Tribune. more... (ET)







Sector Briefing

Exploration companies to get 40-50 percent higher price: tight gas policy approved by CCI

The Council of Common Interests (CCI) on Tuesday approved in principle Tight Gas Policy that will offer 40 to 50 percent higher price than that of price announced in Exploration and Production Policy 2009 to attract the exploration companies to invest in tight gas fields, Business Recorder has learnt. more... (BR)

KESC hikes tariff by 96 paisa per unit
NEPRA has approved to Karachi Electric Supply Corporation (KESC) to hike power tariff by 96 paisa per unit, Geo News reported. According to the NEPRA official, KESC proposed to raise tariff by Rs 1.01. He said the hike granted in fuel adjustment charges and will be payable in upcoming electricity bills. more... (TN)

PSO's circular debt of Rs 145 billion: 'tariff rationalisation only recipe to overcome crisis'
Minister for Petroleum and Natural Resources, Syed Naveed Qamar told National Assembly on Tuesday that 'tariff rationalisation' was the only recipe he could offer to overcome Pakistan State Oil (PSO) circular debt of Rs 145 billion. more... (BR)



KSE Notices

Al-Abbas Sugar MillsLimited
The company anounced the financial results for the period ended on Dec 31, 2010 with the PAT: PKR57.40mn and EPS of PKR:3.31. more... (KSE)

JWD Sugar Mills Limited
The company anounced the financial results for the period ended on Dec 31, 2010 with the PAT: PKR691.50mn and EPS of PKR:14.12. more... (KSE)

Deewan Sugar Mills Limited
The company anounced the financial results for the period ended on Dec 31, 2010 with the LAT: PKR150.43mn and LPS of PKR:4.12. 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.