BasedLine
Date: 2-Mar-2011
KSE-100 Index
Previous Index 11,289.23
Current Index 11,608.43
Change % 2.83%
YTD (CY11) -3.44%
YTD (FY11) 19.40%
KSE-100 Index
Previous Index 18,671.73
Current Index 19,227.57
Change % 2.98%
YTD (CY11) 2.25%
YTD (FY11) 31.51%
International Indicators
 
Close
%age
BSE-30 18,446.50 3.50
HANGSENG 23,396.42 0.25
NIKKEI 255 10,754.03 1.20
FTSE 5,935.76 -0.97
DJIA 12,058.02 -1.38
SSEC 2,918.92 0.48
NASDAQ 2,737.41 -1.61
 
Close
%age
TASI 5,538.72 -6.78
KSE(Kuwait) 6,321.40 -2.46
BSE 1,424.33 -0.45
MSM 6,401.48 4.22
ADX 2,574.32 -0.56
DFM 1,424.76 1.00
QSE 7,940.90 0.10
Capital Market Overview

Market watch: Stock market records bullish trend, jumps 319 points

The stock market made a massive recovery on Tuesday on the back of renewed buying interest from local and foreign investors.
The Karachi Stock Exchange's (KSE) benchmark 100-share index rose 2.83 per cent, or 319.2 points, to end at 11,608.43. more... (ET)

NAVs and Returns
as of Mar 1, 2011
Funds Offer Redemption
POAIIF
52.8570/-
52.3284/-
YTD Return
8.45%
POIAAF
63.34/-
61.76/-
YTD Return
29.30%
POAAAF
58.44/-
56.98/-
YTD Return
20.03%
POAF
10.35/-
YTD Return
-10.08%
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 AMCs 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
33.63
2,882
122.14
6.69
-3.44%
KSE30
6.62
567
100.02
6.35
-2.67%
KMI30
4.95
424
60.22
3.57
2.25%
KSE All
36.67
3,141
153.04
7.07
-3.15%
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
211.99
111.18
-6.20%
OGDC
17.75
152.25
151.80
-9.65%
UBL
2.00
62.60
42.76
-8.25%
LUCK
1.70
62.55
36.35
-17.47%
F.I.P.I.
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
99.18
(1,468.01)
(1,368.84)
Foreign Corporates
8,150.89
(10,591.49)
(2,440.60)
Overseas Paksitani
379.54
(404.17)
(24.64)
Grand Total
8,629.61
(12,463.68)
(3,834.07)
F.I.P.I.
Foregion Investment              
Foregion Investors Protfolio Investmest (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
28-Feb-11
1-Mar-11
Change
Gross Buy
196.85
143.30%
61.28
-47.70%
7.20
8.66
20.27%
Gross Sell
-127.08
31.56%
-59.61
-5.56%
-4.97
-12.51
151.71%
Net Buy/(Sell)
69.76
71.10%
1.67
-97.24%
2.24
-3.85
-71.88%
S.C.R.A
Country
During the Year July 10 to Date
28-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
32.62
0.104
-
27.91
-
-
4.82
0.005
-
0.005
Luxembourg
57.99
-
-
33.23
-
-
24.76
-
0.355
(0.355)
Switzerland
24.26
-
-
9.73
-
-
14.49
0.258
0.589
(0.331)
UAE
3.43
-
-
6.85
-
-
-3.82
-
-
-
UK
121.44
165.15
-
91.32
202.63
2.85
-14.36
0.559
0.577
(0.018)
USA
345.89
-
12.27
166.81
-
17.12
174.22
1.39
1.19
0.200
Total
592.88
165.25
12.27
345.25
202.63
21.54
195.95
2.25
2.72
(0.463)

News Clippings
Economy

Potential, actual WHT collection gap estimated at Rs 120 billion
There is a huge gap of approximately Rs 120 billion between the withholding tax potential and actual collection of the levy, pointing towards immediate measures to improve withholding tax collection generating additional revenue in 2010-11. more... (BR)

High furnace oil price to push up power tariff

The Karachi Electric Supply Company (KESC) has warned that recent increases in the price of furnace oil will drive up electricity tariff that consumers are subjected to. more... (ET)

Government allows import of seven more items from India

The government has expanded trade with India by allowing import of seven more items, taking the total tally to over 1,945 goods. .more... (ET)

Rs47.54bn raised via Sukuks

Government raised Rs47.54 billion ($555 million) by selling Islamic bonds in the domestic market, the central bank said Tuesday. The cut-off margin will be the six-month treasury bill weighted average yield, which in the last auction on February 23, was 13.6750 per cent. more... (TFD)

Value-added sectors to get gas 5day/wk

President Asif Ali Zardari on Tuesday asked gas supply companies to resume natural gas supply to value-added textile and fertiliser sectors from Wednesday for five days a week. more... (TFD)

Company & Sector Update

Sale of assets in Pakistan: BP forwards UEG''s $775 million offer

British Petroleum (BP) has forwarded to its partners, including OGDC, United Energy Group Limited''s offer of $775 million for its stakes in Pakistan''s oil and gas sector. more... (BR)

PSO may default on fuel supplies as crisis deepens: receivables swell to Rs 164.65 billion
The financial crisis of the cash strapped Pakistan State Oil (PSO) deepened further on Monday, as its receivables swelled to Rs 164.65 billion, leading the entity to possible default on fuel supplies mainly due to non-payment of dues by power sector. more... (BR)

NBP announces dividend and bonus shares
National Bank of Pakistan, the second largest bank by assets, posted a net profit of Rs17.56 billion in 2010, the same as the preceding year.more... (ET)

NIB Bank to increase capital by Rs. 8.575 billion
With the objective of keeping the bank well-capitalized, NIB has decided to issue 6,259,124,088 at Rs.1.37. more... (KSE)

 

Political

PML-N reorganisation: ‘PPP following Musharraf's policies'
Pakistan Muslim League-Nawaz (PML-N)'s Chief Mian Nawaz Sharif in his meeting with party workers hailing from Karachi division avoided making bellicose remarks against the MQM but spoke out much more forcefully against the alleged bogus cases being instituted against innocent Baloch nationals. He said that this should stop immediately. more... (ET)

PM accuses other parties of failing to suggest options

Justifying the latest petroleum price hike, Prime Minister Yousuf Raza Gilani said on Tuesday that the government could ill-afford a Rs5 billion shortfall every month, while parties opposing the increases failed to provide an alternative. more... (D)

No military action on Libya without UN mandate: France
France said Tuesday that there would be no international military action against Libya, including the imposition of a no-fly zone, without a “clear mandate” from the United Nations. more... (D)

Hike in POLP products'' prices: MQM holds out three-day ultimatum to government

Muttahida Qaumi Movement (MQM), sharply reacting to the hike in petroleum products'' prices on Tuesday, held out a three-day ultimatum to the government to rescind its fuel price hike decision. more... (BR)

GCC

Saudi shares dive 6.8% on Mideast unrest fears
Saudi shares dived 6.8 percent at close on Tuesday amid panic sell-off by investors concerned over unrest that has hit several Arab countries, traders said. more... (zawya)

UAE plans steps to tame prices of essential items
Amid concerns over rising global commodity prices, the UAE Ministry of Economy will step in to lower the prices of essential foodstuffs for a month with prices being reduced by up to 40 per cent, a ministry official said yesterday. more... (gulf news)

Marinas offer improved services to maintain occupancy levels
Rental rates for marina berths have remained steady over the past two years in Gulf countries, but managers are offering extra services and benefits to maintain occupancy levels. more... (gulf news)

 

Quote of the Day:

"I like to tell people that all of our products and business will go through three phases. There's vision, patience, and execution." Steve Ballmer

 

 

 

Economic Highlights
Economic Indicators
GDP Growth FY11E 4.10%
GDP -2010 $176 bn
Per Capita Income $ 1,051
Population 175.31mn
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 (Feb 4, 2011) Rs5,046.86bn
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
28-FEB-11
1-MAR-11
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
87.0643
-0.04%
10.46%
10.47%
1.20
     
28-FEB-11
1-MAR-11
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
1,042.33
1,046.73
4.40

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
12.78
13.34
13.51
13.76
Offer
13.28
13.59
13.76
14.26

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
13.25
13.00
13.00
13.30
13.45
13.45
Low  
12.50
12.85
12.80
13.05
13.15
13.20

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
85.71
117.83
1.044
138.12
23.33
1.38
0.46

T Bill Rates (%)
3 month
6 month
12 month
Avg.
13.35
13.60
13.78
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
1.21
3.14
3.28
3.62
5.49
8.00
12.56
14.15
Change bps
2.80
0.20
-2.50
2.00
2.30
-0.80
-3.10
0.00

Commodities

     
28-FEB-11
1-MAR-11
change
WTI (USD/bbl)    
97.41
100.32
2.99%
     
Brent (USD/bbl)    
112.44
115.83
3.01%
     
Arab Light (USD/bbl)    
108.41
112.46
3.74%

Domestic
Current
Previous
Change
High Speed Diesel ((litre)
86.09
78.33
9.91%
Furnace Oil (Rs/ton)
62,405.46
58,042.53
7.52%
Cement (Rs. Bag Avg)
357.13
355.14
0.56%
Urea Fertilizer (Rs/bag)
1,020.00
1,121.83
-9.07%
Gold 24cr (Rs./10grm) Khi
38,764.00
38,785.00
-0.05%
Rice IRRI -6(Rs/100kg)
3,342.00
3,343.00
-0.03%
KCA Cotton (Rs/mound)
12,000
11,800.00
1.69%
International
Current
Previous
Change
Coal Spot(USD/ton)
129.70
124.30
4.34%
Gold Futures (USD/oz)
1,430.70
1,413.40
1.22%
Sugar 11 (USD/lb)
29.26
29.45
-0.65%
Steel (USD/ton)
728.46
729.17
-0.10%
Wheat (CBT) (USD/bu)
808.25
819.50
-1.37%
PTA (USD/ton)
1,470.00
1,475.00
-0.34%
Copper (USD/ton)
9,845.00
9,879.00
-0.34%

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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.