BasedLine
Date: 28-Feb-2011
KSE-100 Index
Previous Index 11,539.62
Current Index 11,223.52
Change % -2.74%
YTD (CY11) -6.65%
YTD (FY11) 15.45%
KSE-100 Index
Previous Index 18,705.82
Current Index 18,298.92
Change % -2.18%
YTD (CY11) -2.69%
YTD (FY11) 25.16%
International Indicators
 
Close
%age
BSE-30 17,700.91 0.40
HANGSENG 23,012.37 1.80
NIKKEI 255 10,526.76 0.70
FTSE 6,001.20 1.40
DJIA 12,130.45 0.51
SSEC 2,878.56 -0.04
NASDAQ 2,781.05 1.56
 
Close
%age
TASI 5,950.64 -5.00
KSE(Kuwait) 6,481.10 0.22
BSE 1,436.55 0.28
MSM 6,458.37 -2.83
ADX 2,628.31 0.57
DFM 1,466.83 -0.86
QSE 8,193.98 -0.21
Capital Market Overview

KSE plummets 7% on political uncertainty

The stock market started the week under pressure and continued its downward spiral owing to continuous panic selling, in line with regional markets, following domestic and international political uncertainty. more... (ET)

NAVs and Returns
as of Feb 25, 2011
Funds Offer Redemption
POAIIF
52.8119/-
52.2838/-
YTD Return
8.41%
POIAAF
62.61/-
61.04/-
YTD Return
27.67%
POAAAF
57.04/-
55.61/-
YTD Return
16.22%
POAF
10.34/-
YTD Return
-10.41%
Funds Rating
AMC
AM3
POAIIF
A+ (f)
POAF
AA-
  Jan-11 Dec-10 MoM(%)
AUM's (PKR bn) 193.55 181.7 6.53%
No of AMC's 28 28  
No of Funds 113 113  
KSE Market Data
KSE Market Data
Capitilization
Volume
Traded Val.
KSE Return
 
(USD bn)
(Rs. bn)
(Sh. mn)
(Rs.bn)
(YTD)
KSE100
32.43
2,789
125.95
5.59
-6.65%
KSE30
6.29
540
101.23
5.32
-7.02%
KMI30
4.69
403
69.30
3.40
-2.69%
KSE All
35.36
3,040
158.84
5.84
-6.55%
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
200.08
110.89
-11.47%
OGDC
15.55
152.60
132.65
-9.44%
UBL
2.00
57.51
42.65
-15.71%
LUCK
1.70
60.32
36.25
-20.41%
F.I.P.I.
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
58.26
(9.05)
49.21
Foreign Corporates
3,025.32
(5,986.47)
(2,961.16)
Overseas Paksitani
347.16
(486.21)
(139.05)
Grand Total
3,430.74
(6,481.74)
(3,050.99)
F.I.P.I.
Foregion Investment              
Foregion Investors Protfolio Investmest (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
24-Feb-11
25-Feb-11
Change
Gross Buy
174.48
39.16%
45.07
-63.38%
3.48
3.43
-1.44%
Gross Sell
-108.11
15.07%
-41.80
-31.92%
-2.19
-6.48
195.89%
Net Buy/(Sell)
66.38
109.33%
3.27
-94.73%
1.29
-3.05
-136.43%
S.C.R.A
Country
During the Year July 10 to Date
24-Feb-2011
Cumulative Inflow
Cumulative Outflow
Cumulative
Net flow
Inflow
Outflow
Net Flow
Equity
T-Bill
PIBs
Equity
T-Bill
PIBs
Equity
Equity
Hong Kong
32.43
0.104
-
27.78
-
-
4.57
0.406
-
0.406
Luxembourg
57.97
-
-
32.87
-
-
25.10
0.042
-
0.042
Switzerland
23.99
-
-
9.15
-
-
14.81
-
0.139
(0.139)
UAE
3.43
-
-
6.85
-
-
-3.82
0.499
0.082
0.417
UK
120.52
165.15
-
90.38
202.63
2.85
-14.34
0.198
0.860
(0.662)
USA
342.99
-
12.27
162.50
-
17.12
175.63
1.50
3.77
(2.27)
Total
587.33
165.25
12.27
338.93
202.63
21.54
196.71
2.64
4.85
(2.21)

News Clippings
Economy

Power Tariff subsidy to continue till June: fuel differential to be passed on to consumers
The federal government has reportedly decided to extend Rs 30 billion subsidy every two months to keep power tariff frozen at least till June, 2011, sources told Business Recorder. "We will continue to extend Rs 30 billion subsidy every two months to Pakistan Electric Power Company (Pepco) as tariff differential. more... (BR)

Petrol prices set to increase 10-13%: Sources
Oil and Gas Regulatory Authority (Ogra) has advised 10 to 13 per cent increase in prices of petroleum products. According to sources, the finance ministry has endorsed recommendations made by Ogra, and the decision will be announced tomorrow. more... (ET)

FBR's proposals dropped: one percent surcharge, raise in WHT on imports

The government has dropped the proposals of the Federal Board of Revenue (FBR) to impose one percent import surcharge and 2 percent increase in withholding tax on imports due to possible violation of the World Trade Organisation (WTO) regime. more... (BR)

 

Company & Sector Update

Mining sector tapped as huge revenue potential sources
The Federal Board of Revenue (FBR) can examine/investigate mining sector as one of the most potential areas for increasing revenue collection and broadening the tax base under the national drive to discover new avenues of generating additional revenue in far flung areas. more... (BR)

Urea arrives to bridge demand-supply gap
The Trading Corporation of Pakistan (TCP) has imported 35,988 tons of urea in order to bridge the gap between demand and supply ahead of the Kharif crop season. more... (ET)

KESC blames extra loadshedding on erratic gas supply
The Karachi Electric Supply Company has claimed that it has been facing unpredictable fluctuation in gas supply during the past about one week. A press release here on Sunday said that KESC has been increasing and decreasing power generation as per the quantum of gas received. more... (BR)

 

Political

Political confrontation: PPP vows to ‘expose politics of turncoats'
The Pakistan Peoples Party (PPP) has decided to use the 15-day period afforded by the law requiring the governor for approving the summary to remove PPP ministers to “expose Pakistan Muslim League-Nawaz's politics of turncoats before the national audience,” more... (ET)

Faceoff in Punjab: Season of recrimination returns

A day after ordering the expulsion of the Pakistan Peoples Party (PPP) from the coalition government in Punjab, the Pakistan Muslim League-Nawaz (PML-N) found itself hurtling towards renewed political recrimination with its former ally. more... (ET)

‘Sharifs were pressured by PPP to support Dogar'
Punjab Chief Minister Shahbaz Sharif has alleged that President Asif Ali Zardari had once threatened that the Sharifs would be disqualified if the PML-N did not support Dogar (former chief justice Abdul Hameed Dogar) courts. more... (D)

"Crumbling Libyan regime: Rebels form council, seize more towns'
Rebels in easter­n Libya formed a nation­al counci­l on Sunday and pledge­d to help free areas. more... (ET)

GCC

Kingdom Holding leads Saudi shares lower
Yesterday's trade on the Saudi stock exchange in Riyadh sent the Tadawul All-Share Index (Tasi) 0.21 per cent lower to 6,263.79. Oil, petrochemical and construction shares fell the most. more... (zawya)

UAE sets up fund to finance Emiratisation programmes
The new fund aims to provide financial resources necessary to support programmes and policies for encouraging UAE citizens to join the job market and make most of job opportunities available in both the public and private sectors. more... (zawya)

Saudi Arabia gears up to employ more nationals
Saudi Arabia's concerned departments have begun a process of opening the door for employing more national cadres, particularly in the public sector. more... (gulf news)

 

Quote of the Day:

"You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets." Peter Lynch

 

 

 

 

 

 

Economic Highlights
Economic Indicators
GDP Growth FY11E 4.10%
GDP -2010 $176 bn
Per Capita Income $ 1,051
Population 175.27mn
US$ Reserves (Feb 19, 2011) $17.59 bn
Trade Balance Jul - Jan 11 $(9.32)bn
Curr. A/C (Jul 10-Jan-11) $(81)mn
Remittances (July 10- Jan 11) $6.12bn
Foreign Investment (Jul 10- Jan 11) $1.18bn
All Sch. Banks Deposit Base (Jan 21, 2010) Rs704.34bn
Inflation
CPI Gen. - YoY (Jan-11) 14.19%
   
CPI Gen. - FY11 (Jul- Jan 11) 14.55%
   
NFNE Core INFL - YoY (Jan 11) 9.40%
   
NFNE Core INFL - FY11 (Jul - Jan 11) 10.30%

Money Market

 
Price
Change
24-FEB-11
25-FEB-11
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
86.9475
0.08%
10.52%
10.50%
-1.70
     
24-FEB-11
25-FEB-11
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
1,068.04
1,048.22
-19.82

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
12.86
13.35
13.51
13.76
Offer
13.36
13.60
13.76
14.26

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
12.10
12.30
12.90
13.30
13.45
13.45
Low  
11.05
11.90
12.70
13.05
13.15
13.20

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
85.49
118.16
1.044
138.07
23.28
1.38
0.47

T Bill Rates (%)
3 month
6 month
12 month
Avg.
13.20
13.50
13.70
Last Cut Off.
13.49
13.69
13.86
Bond Rates (%) Cut Off
Bid
Offer
Previous
Current
5-Y PIB
14.23
14.18
14.30
14.29
10 Y-PIB
14.22
14.15
14.36
14.27

10 Yr Govt bond
Japan
Germony
US
UK
Australia
India
Brazil
Pakistan
Yield
1.18
3.12
3.39
3.61
5.51
8.07
12.59
14.15
Change bps
-7.10
-1.10
-16.80
-0.60
-3.40
0.40
9.00
0.00

Commodities

     
25-FEB-11
26-FEB-11
change
WTI (USD/bbl)    
97.63
99.66
2.08%
     
Brent (USD/bbl)    
112.50
114.35
1.64%
     
Arab Light (USD/bbl)    
110.11
110.02
-0.08%

Domestic
Current
Previous
Change
High Speed Diesel ((litre)
78.33
73.82
6.11%
Furnace Oil (Rs/ton)
62,405.46
58,042.53
7.52%
Cement (Rs. Bag Avg)
355.14
352.75
0.68%
Urea Fertilizer (Rs/bag)
1,121.83
1,123.33
-0.13%
Gold 24cr (Rs./10grm) Khi
38,571.00
38,485.00
0.22%
Rice IRRI -6(Rs/100kg)
3,284.00
3,300.00
-0.48%
KCA Cotton (Rs/mound)
11,800
12,000
-1.67%
International
Current
Previous
Change
Coal Spot(USD/ton)
124.30
126.75
-1.93%
Gold Futures (USD/oz)
1,407.40
1,411.90
-0.32%
Sugar 11 (USD/lb)
27.83
27.36
1.72%
Steel (USD/ton)
550.00
543.25
1.24%
Wheat (CBT) (USD/bu)
788.75
763.00
3.37%
PTA (USD/ton)
1,475.00
1,435.00
2.79%
Copper (USD/ton)
9,580.00
9,421.00
1.69%

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(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily, (KSE) Karachi Stock Exchange

Separator
Disclaimer:
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.