BasedLine
Date: 25-May-2011
KSE-100 Index
Previous Index 12,030.64
Current Index
12,130.58
Change % 1.31%
YTD (CY11) 0.90%
YTD (FY11) 24.78%
KSE-100 Index
Previous Index 20,296.86
Current Index 20,637.92
Change % 1.68%
YTD (CY11) 9.75%
YTD (FY11) 41.15%
International Indicators
 
Close
%age
BSE-30 18,011.97 0.10
HANGSENG 22,730.78 0.10
NIKKEI 225 9,477.17 0.20
FTSE 5,858.41 0.40
DJIA 12,356.21 0.20
SSEC 2,898.00 -0.28
NASDAQ 2,746.16 0.46
 
Close
%age
TASI 6,710.71 0.12
KSE(Kuwait) 6,410.60 -0.51
BSE 1,365.59 0.11
MSM 6,039.79 -0.51
ADX 2,616.29 -0.59
DFM 1,544.28 -0.15
QSE 8,381.39 -0.71
Capital Market Overview

Market watch: Bourse gains 100 points amid better volumes

The stock market continued its march upwards on Tuesday primarily due to renewed hopes that the upcoming budget may have some positives for a trigger-starved capital market. The Karachi Stock Exchange's (KSE) benchmark 100-share index gained 0.83 per cent or 100 points to end at 12,130.58 points. more... (ET)

NAVs and Returns
as of May 24, 2011
Funds Offer Redemption
POAIIF
52.4143/-
51.8902/-
YTD Return
9.22%
POIAAF
64.79/-
63.17/-
YTD Return
22.32%
POAAAF
59.70/-
58.21/-
YTD Return
15.84%
POAF
11.10/-
YTD Return
10.34%
Funds Rating
AMC
AM3
POAIIF
A+ (f)
POAF
AA-
  Apr-11 Mar-11
MoM(%)
AUM's (PKR bn) 208.80 198.91 4.97%
No of AMCs 28 28 -
No of Funds 112 112 -
KSE Market Data
KSE Market Data
Capitalization
Volume
Traded Val.
KSE Return
 
(USD bn)
(Rs. bn)
(Sh. mn)
(Rs.bn)
(YTD)
KSE100
34.81
2,981
61.12
2.42
0.90%
KSE30
6.89
590
32.25
2.05
1.44%
KMI30
5.19
444
19.41
1.09
9.75%
KSE All
37.54
3,214
70.11
1.74
0.86%
May 24, 2011
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
208.01
111.31
-0.01%
OGDC
16.32
151.05
139.73
-27.51%
UBL
2.00
64.58
42.81
-0.01%
LUCK
1.70
70.64
36.39
-0.01%
May 24 , 2011
F.I.P.I.  
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
9.50
(21.26)
(11.77)
Foreign Corporates
1078.04
(587.11)
(490.93)
Overseas Pakistani
103.88
(126.03)
(22.20)
Grand Total
1,191.41
(734.40)
(457.01)
F.I.P.I.
Foreign Investment              
Foreign Investors Portfolio Investment (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
23-May-11
24-May-11
Change
Gross Buy
357.04
-35.51%
43.38
-92.16%
0.69
1.20
73.91%
Gross Sell
-286.03
-8.45%
-17.40
-94.43%
-2.90
-0.73
-74.83%
Net Buy/(Sell)
71.02
-71.14%
25.98
-89.44%
-2.21
-0.46
-79.20%
S.C.R.A
Country
During the Year July 10 to Date
23-May-2011
Cumulative Inflow
Cumulative Outflow
Cumulative
Net flow
Inflow
Outflow
Net Flow
Equity
T-Bill
PIBs
Equity
T-Bill
PIBs
Equity
Equity
Hong Kong
55.21
0.10
-
37.90
-
-
17.42
0.13
-
0.13
Luxembourg
67.50
-
-
59.93
-
-
7.70
0.21
-
0.21
Switzerland
37.03
-
-
15.40
-
-
21.61
-
-
-
UAE
6.00
0.18
-
7.34
-
-
0.83
-
-
-
UK
145.30
192.14
-
131.52
202.63
2.85
-2.60
0.10
0.50
0.053
USA
415.20
-
28.45
235.90
-
17.12
190.80
0.66
2.04
4.70
Total
756.00
192.43
40.92
512.50
202.63
21.54
249.71
1.20
2.10
5.12
News Clippings
Economy

Budget 2011-12: current account deficit to be financed through FDIs

The government has decided to finance current account deficit in the fiscal year 2011-12 through foreign direct investments (FDIs) ie amounts anticipated from Etisalat -around $800 million--expected by the start of next fiscal year, grants and loans estimated at $2.1 billion and portfolio investment. more... (BR)

GST on more items planned in budget

In what appears to be a move aimed at avoiding pressure from influential businessmen and land owners, the government has decided in principle to confine new taxation measures to the imposition of general sales tax on more commodities in the next budget, Dawn has learnt. more... (D)

Revised budget estimates: Budget deficit set to swell

The government has not only overspent on non-development expenditure at the cost of development expenditure in the current financial year, it will also miss the revenue targets, causing the budget deficit to swell by 18 per cent, reveal official documents. more... (ET)

FBR drive to recover tax arrears

The Federal Board of Revenue (FBR) has initiated a major drive to recover billions of rupees in withholding tax from banks, official sources said on Tuesday. The banking companies have been served with notices for recovery of huge amount of withholding tax collected but not deposited in the national exchequer, sources added. in other cases, banks were not detecting withholding tax and under some other heads payments were not being made, revealed findings of a recent inquiry by the Large Taxpayers Unit (LTU) Karachi about withholding tax. more...(D)

 
Company & Sector Update

30pc GST likely on commercial, industrial power

The government is considering a proposal to increase the rate of general sales tax from 17 to 30% for industrial and commercial users of electricity in the next budget to raise additional revenue. Economic experts are of the opinion that the move will boost inflation because industries will pass on the increase to consumers. more... (D)

Govt to review Capital Gains Tax on stocks

The meeting between the Ministry of Finance, headed by Federal Finance Minister Abdul Hafeez Sheikh and the Pakistan Business Council (PBC) in Islamabad on Monday and Tuesday focused on several matters of interest and concern to the business community. The Capital Gains Tax on stocks–mainly the methodology of its collection came under consideration and also issues relating to the turnaround and privatisation of state-owned enterprises (SOEs). more... (D)

Banking system assets grow by 7.7pc to Rs7.1trn in Q4: SBP Report

The assets of the banking system grew by 7.7 percent to Rs 7.1 trillion during the October-December quarter of 2010. This growth in total assets, while in line with the established seasonal pattern of the fourth quarter, was particularly strong given the comparatively weak performance in the earlier three quarters of 2010. more... (BR)

Gas shortage may worsen in winter, committee told

The Senate Standing Committee on Interior was informed on Tuesday that the shortage of gas might worsen in winter because there was no possibility of additional gas coming into the system over the next two years. more... (D)

 
Political

AQ Khan says nuclear-armed Pakistan should deter of none

Atomic scientist Dr. Abdul Qadeer Khan has advised the rulers of Pakistan that their country is nuclear-armed therefore they should not be afraid of anyone, Geo News reported Tuesday. more... (N)

US behind PNS Mehran attack, says Nawaz Sharif

Pakistan Muslim League-Nawaz (PML-N) chief Nawaz Sharif, on Tuesday, blamed the US for Sunday night's brazen assault on PNS Mehran in Karachi, terming it a covert move to weaken Pakistan by attacking its vital installations more... (ET)

China denies citizens held hostage in PNS Mehran attack

China's Foreign Ministry on Wednesday denied that any of the country's citizens was held hostage in an attack by Taliban militants on a Pakistani naval base, although it said Chinese technicians were moved to safety because of the assault. more... (D)

 

 
GCC

Public sector deposits in banks drop

Public sector deposits in the banks dropped considerably between January and April this year with banking industry sources attributing the development to the government releasing funds for public spending. more... (Zawya)

Qatar, China, local investors interested

Bahrain Bay Development, or BBD, a unit of Arcapita Bank and developer of the $2.5bn Bahrain Bay project, is in talks with investors from Qatar, Bahrain and China who want to buy the remaining 35% of the plots of land in the real estate project, a Manama-based newspaper reported. BBD has already sold 65% of the plots of land, BBD said. more... (Gulbase)

Shaikh Mohammad Bin Rashid launches 'Customers Service Charter' for UAE federal government

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice- President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday launched the Customer Service Charter of the federal government that aims to meet the needs of customers through speed of service delivery and provision of efficient services. more... (Gulf News)


 

Quote of the Day:

" One of the things that may get in the way of people being lifelong learners is that they're not in touch with their passion. If you're passionate about what it is you do, then you're going to be looking for everything you can to get better at it. " - Jack Canfield



 
Economic Highlights
Economic Indicators
GDP Growth FY11E
2.50%
GDP -2010
$176 bn
Per Capita Income
$ 1,051
Population
176.05mn
US$ Reserves (May 14, 2011)
$16.97bn
Trade Balance (Jul 10- Apr 11)
($12.11bn)
Curr. A/C (Jul 10-Mar 11)
$99mn
Remittances (July 10- Apr 11)
$9.05bn
Foreign Investment (Jul 10- Mar 11)
$1.32bn
All Sch. Banks Deposit Base (May 13, 2011)
Rs712.05bn
Inflation
CPI Gen. - YoY (Apr-11) 13.00%
   
CPI Gen. - FY11 (Jul- Apr 11) 14.08%
   
NFNE Core INFL - YoY (Apr 11) 9.40%
   
NFNE Core INFL -FY11 (Jul- Apr 11) 9.50%

Money Market

 
Price
Change
23-MAY-11
24-MAY-11
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
88.8885
-0.49%
9.95%
10.08%
12.50
     
23-MAY-11
24-MAY-11
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
862.50
862.50
-

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
13.03
13.14
13.43
13.70
Offer
13.53
13.39
13.66
14.20

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
13.80
13.50
13.30
13.30
13.45
13.45
Low  
13.00
13.30
13.10
13.05
13.15
13.20

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
85.65
120.20
1.05
138.50
23.30
1.72
0.40

T Bill Rates (%)
3 month
6 month
12 month
Avg.
13.20
13.58
13.82
Last Cut Off.
13.21
13.60
13.84
Bond Rates (%) Cut Off
Bid
Offer
Previous
Current
5-Y PIB
14.05
13.90
14.11
14.07
10 Y-PIB
13.60
13.45
14.12
14.10

10 Yr Govt bond (%)
Japan
Germany
US
UK
Australia
India
Brazil
Pakistan
Yield
1.00
2.99
2.93
3.24
5.25
8.37
12.76
13.45
Change bps
-1.20
5.30
-1.70
3.70
1.50
3.10
-0.90
0.00

Commodities

     
23-MAY-11
24-MAY-11
change
WTI (USD/bbl)    
98.41
98.50
0.10%
     
Brent (USD/bbl)    
110.92
111.50
0.52%
     
Arab Light (USD/bbl)    
106.20
108.75
2.40%

Domestic
Current
Previous
Change
High Speed Diesel (litre)
97.31
92.89
4.76%
Furnace Oil (Rs/ton)
69,658.29
71,598.15
-2.71%
Cement (Rs. Bag Avg)
403.38
404.00
-0.15%
Urea Fertilizer (Rs/bag)
1,325.83
1,311.25
1.11%
Gold 24cr (Rs./10gm) Khi
42,257.00
42,214.00
0.10%
Rice IRRI -6(Rs/100kg)
3,629.00
3,631.00
-0.06%
KCA Cotton (Rs/mound)
8,500.00
9000.00
-5.56%
International
Current
Previous
Change
Coal Spot(USD/ton)
117.10
117.15
-0.04%
Gold Futures (USD/oz)
1,523.50
1,518.70
0.32%
Sugar 11 (USD/lb)
21.91
21.51
1.86%
Steel (USD/ton)
747.63
750.62
-0.39%
Wheat (CBT) (USD/bu)
785.50
806.00
-2.54%
PTA (USD/ton)
1,205.00
1,210.00
-0.41%
Copper (USD/ton)
8,849.00
8,776.00
0.83%

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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 Bizz Info 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 Bizz Info or any part of it should not be reproduced, published or distributed without prior permission.