Feb 11, 2011

KSE-100 Index
Previous Index 12,298.24
Current Index 12,187
Change % -0.91%
YTD (CY11) 1.37%
YTD (FY11) 25.36%

International Indicators
  Close %age
BSE-30 17,463.04 -0.74
HANGSENG 22,708.62 -1.97
NIKKEI 255 10,605.65 -0.10
FTSE 6,020.01 -0.50
DJIA 12,229.29 -0.09
SSEC 2,818.16 1.58
NASDAQ 2,790.45 0.05
TASI 6,611.60 0.14
KSE(Kuwait) 6,738.90 -0.29
BSE 1,467.08 0.03
MSM 6,914.97 -0.30

Feb 08, 2011 (5.44)
Feb, 2011 (3.45)
YTD (FY11) mn 197.29

Money Market Updates
6m T-bill 09-Feb-11 13.69%
12m T-bil 09-Feb-11 13.86%
3m KIBOR 13.63%
6m KIBOR 13.77%
10 yrs PIB 14.26%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 117.00
PKR/GBP 137.80
PKR/USD 85.55
PKR/OMR 221.00

Oil $87.12/barrel
Change in % 0.45
Gold $1,364/ounce
Change in % 0.14

CPI Gen. - YoY (Jan-11) 14.19%
CPI Gen. - FY11 (Jul- Jan 11) 14.55%
NFNE Core INFL - YoY (Jan 11) 9.4%
NFNE Core INFL - FY11 (Jul- Jan 11) 10.3%

Economic Indicators
GDP Growth FY10E 4.10%
Per Capita Income $ 1,051
Population 175.12mn
US$ Reserves (Jan 8, 2011) $17.31 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) $1.05bn
All Sch. Banks Deposit Base (Jan 21, 2010) Rs704.34bn

NAVs and Returns
as of Feb 10, 2011
Funds Offer Redemption
POAIIF 52.5072/- 51.9821/-
Daily Return 9.17%
POIAAF 63.49/- 61.90/-
Daily Return -146.82%
POAAAF 60.19/- 58.69/-
Daily Return -357.18%
POAF 10.37/-
Daily Return 6.54%
*Daily Returns are calculated as per MUFAP guidelines

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

Number of jobless rises to three million
ISLAMABAD: The number of unemployed people in the country has increased to around three million with the addition of 75,000 people during the year 2009-10, reveals an official survey.more... (Tribune)

Market watch: Bearish trend continues as index falls 112 points
KARACHI: Bearish trend continued on the stock market on Thursday as investors remained glued to the sidelines owing to escalating tensions with the US.The Karachi Stock Exchange benchmark 100-share index ended 0.91 per cent or 111.81 points lower at 12,187.47. more... (Tribune)

MCB Bank declares dividend, bonus shares
KARACHI: MCB Bank reported an increase of nine per cent in net profit to Rs16.9 billion in 2010, which came in line with market expectations. The jump in earnings was driven by a drop of 50 per cent in bad loans, strong non-interest income growth and an uptick in the Karachi Inter-bank Offered Rate (Kibor), according to JS Global Capital. more... (Tribune)

Foreign exchange: Reserves fall to $17.31 billion
KARACHI: Foreign exchange reserves fell to $17.31 billion in the week ended February 5, down from a record $17.38 billion the previous week, the central bank said on Thursday.. more... (Tribune)



Cabinet dissolution: Zardari accepts resignations
ISLAMABAD: As President Asif Ali Zardari on Thursday accepted resignations of outgoing ministers , speculation increased in the federal capital on the names that would make it to the new set-up – believed to be smaller and more disciplined than the over-sized cabinet it replaces. more... (Tribune)

Pilots flay PIA for giving up profitable routes

KARACHI: Pakistan International Airline's (PIA) decision to give up its passengers to Turkish Airlines will turn the national carrier into a ‘travel agency', President of the Pakistan Airline Pilots' Association (Palpa) Captain Sohail Baluch said on Thursday. more... (Tribune)

Hajj scam: Prime minister's son to be quizzed
ISLAMABAD: In an interesting twist to the Hajj scam, the Federal Investigation Agency (FIA) has formally decided to interrogate Prime Minister Yousaf Raza Gilani's son after they found evidence that he allegedly received a portion of the graft. more... (Tribune)

Sector Briefing

Afghan Transit Trade Rules 2011: conditions specified for air transit cargo procedure.

ISLAMABAD (February 11, 2011): The government of Pakistan will allow transportation of Afghan transit goods through air from only that international airport of Pakistan, which operates direct flight to an international airport in Afghanistan. This condition has been specified in the detailed procedure on the (Air-to-Air Transit of Goods) to Afghanistan under the new Afghan Transit Trade Rules 2011. more... (BR)

TAPI gas line project: Pakistan suggests uniform price in GSPA
ISLAMABAD (February 11, 2011): Pakistan has proposed to keep uniform price of imported gas for all countries including Afghanistan and India and emphasised that transportation charges and transit fee should not be made part of price under the US-backed TAPI gas pipeline project, Business Recorder has reliably learnt. Pakistan is expected to sign Gas Sales Purchase Agreement (GSPA) on the pipeline deal by April 30, 2011.more... (BR)

''Pakistan FDI likely to rise in second half''
LONDON (February 11, 2011): Foreign direct investment in Pakistan could return to a positive trend this year, but militancy is a deterrent to investors, the country''s investment minister said on Thursday. Floods last year caused nearly $10 billion in damages to Pakistan, and the country''s costly war against Islamist insurgents has also weighed on its efforts to attract foreign investment.more... (BR)


KSE Notices

IGI Investment Bank's Results
The company has posted a PAT of Rs. 23.18 million translating in to an EPS of Rs.0.11 for the period of half-year ended Dec 2010. more... (KSE)

Sigma Leasing Corporation
The company has posted a PAT of Rs.13.68 million translating in to an EPS of Rs.0.46 for the period of half-year ended Dec 2010. 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.