Feb 07 , 2011

KSE-100 Index
Previous Index 12,359.06
Current Index 12,415.35
Change % 0.46%
YTD (CY11) 3.27%
YTD (FY11) 27.70%

International Indicators
  Close %age
BSE-30 18,008.15 -2.40
HANGSENG 23,908.96 1.81
NIKKEI 255 10,543.52 1.08
FTSE 5,997.38 0.23
DJIA 12,092.15 0.25
SSEC 2,798.96 0.29
NASDAQ 2,769.308 0.56
TASI 6,584.85 0.82
KSE(Kuwait) 6,747.00 -0.41
BSE 1,450.76 0.58
MSM 6,885.98 0.43

Feb 03, 2011 2.22
Feb, 2011 -0.95
YTD (FY11) mn 199.80

Money Market Updates
6m T-bill 26-Jan-11 13.71%
12m T-bil 26-Jan-11 13.88%
3m KIBOR 13.61%
6m KIBOR 13.76%
10 yrs PIB 14.27%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 116.72
PKR/GBP 138.11
PKR/USD 85.60
PKR/OMR 222.07

Oil $89.20/barrel
Change in % -2.10
Gold $1,347.90/ounce
Change in % -0.20

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 52.4379/- 51.9135/-
Daily Return 9.65%
POIAAF 64.02/- 62.42/-
Daily Return 247.26%
POAAAF 61.20/- 59.67/-
Daily Return 190.62%
POAF 10.41/-
Daily Return 13.46%
*Daily Returns are calculated as per MUFAP guidelines

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

Exporters default on $316 million export proceeds
Exporters failed to bring back $316 million export proceeds in initials months of current fiscal year and the outstanding exports dues have mounted to $927 million. Sources in banking sector told Business Recorder that outstanding export bills amount is gradually increasing, as several exporters have delayed, or have not brought back their export proceeds--the amount earned with export of goods. more... (BR)

Issuing 'letter of comfort': IMF to wait for mission's report
The International Monetary Fund (IMF) will wait for its mission report on economic situation for deciding the crucial matter of issuing 'letter of comfort' (LoC) for Pakistan. . more... (BR)

Govt warned against injecting funds into PSM
The Senate Standing Committee on Industries and Production has said that Pakistan Steel Mills is like a bottomless pit and whatever goes into it will never come out. more... (D)





Government seriously implementing reforms agenda: PM
Prime Minister Yousuf Raza Gilani has said his government is seriously implementing a 10-point reforms agenda given by the PML-N last month. more... (D)

Pakistan, India agree to push talks forward

Pakistan and India have agreed to ‘carry forward' talks aimed at resuming the full-fledged peace dialogue between the arch rivals that was suspended in the wake of the 2008 Mumbai attacks. more... (BR)

Saarc body session: Pakistan reiterates support to regional co-operation
Foreign Secretary, Salman Bashir on Sunday affirmed Pakistan's support for comprehensive regional co-operation under South Asian Association for Regional Co-operation (Saarc) framework. The foreign secretary is leading Pakistan's delegation to the 38th session of Saarc standing committee, which started in Thimpu, Bhutan, said a message received here from Thimpu. more... (BR)

Cabinet resizing in consultation process: Gilani

Prime Minister Syed Yousuf Raza Gilani has said the re-sizing of federal cabinet is currently in consultation process. Talking to a nine-member journalists delegation here on Sunday, he said the ministers' performance was not the only criterion to re-size the federal cabinet, as other aspects including constitutional provisions, budgetary constraints as well as coalition partners' share was also kept very much in view. more... (BR)





Sector Briefing

Handing over of dormant gas fields: OGDC refuses to accept Sindh's demand

As the Sindh government is mounting pressure to get four dormant gas fields from the Oil and Gas Development Company Limited (OGDC), the latter has refused to accept the demand, and has asked the Sindh government to pay wellhead price of hydrocarbon resources as per petroleum concession (PC) agreement in light of the decision of Economic Co-ordination Committee of the Cabinet," Business Recorder has learnt. more... (BR)

Restoration of 16 percent ST on sugar: 'Plan-B' proposes new tax measures
The 'Plan-B' of the Federal Board of Revenue (FBR) has proposed new tax measures, including restoration of 16 percent sales tax on sugar, to generate additional revenue of nearly Rs 12 billion from sugar sector. more... (BR)

Urea sales drop by 21 percent due to price hike in January '
Fertilizer sales have dropped by 21 per cent in January 2011 as compared to corresponding period of last year due to Rs350 per 50-Kg bag increase in the price of Urea and profiteering in the country, agronomists told Business Recorder here on Sunday. . more... (BR)


KSE Notices

Pakistan Refinery Limited
The board of directors of the company are scheduled to meet on Monday Feb 14, 2010 to reveal the financial performance of 1HFY11. 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.