BasedLine

Date: 10-October-2011
KSE-100 Index
Previous Index 11,839.00
Current Index 11,853.84
Change % 0.13%
YTD (CY11) -1.40%
YTD (FY12) -5.14%
KSE-100 Index
Previous Index 21,659.06
Current Index 21,745.91
Change % -1.40%
YTD (CY11) 15.64%
YTD (FY12) 3.87%
International Indicators
 
Close
%age
BSE-30 16,232.50 2.79
HANGSENG 17,707.00 3.11
NIKKEI 225 8,605.62 0.98
FTSE 5,303.40 0.23
DJIA 11,103.10 0.18
SSEC 2,347.37 0.88
NASDAQ 2,479.35 1.10
 
Close
%age
TASI 6,099.77 0.25
KSE(Kuwait) 5,852.2 0.45
BSE 1,164.21 -0.13
MSM 5,564.34 0.53
ADX 2,499.66 0.21
DFM 1,398.28 0.20
QSE 8,267.62 0.31
Capital Market Overview

Weekly review: Rally continues for fourth straight week

The stock market’s rally continued for the fourth straight week led by fertiliser and cement stocks this time.The Karachi Stock Exchange’s (KSE) benchmark 100-share index gained 92 points or 0.8% on a weekly basis to 11,853 points. Investor interest rose as Engro increased fertiliser prices while cement manufactures increased prices of their product. more... (ET)

NAVs and Returns
as of October 07, 2011
Funds Offer Redemption
POGSF
10.2528/-
10.2528/-
YTD Return
13.49%
POAIIF
52.4621/-
51.9379/-
YTD Return
12.57%
POAAAF
49.52/-
48.28/-
YTD Return
-4.43%
POIAAF
54.59/-
53.23/-
YTD Return
1.88%
POAF
10.58/-
YTD Return
11.78%
Funds Rating
AMC
AM3
POAIIF
A+ (f)
POAF
AA-
POAAAF
5 Star
POIAAF
3 Star
  Jul-11 Aug -11
MoM (%)
AUM's (PKR bn) 216.00 225.15 4.24%
No of AMCs 26 26 -
No of Funds 122 122 -
KSE Market Data
KSE Market Data
Capitalization
Volume
Traded Val.
KSE Return
 
(USD bn)
(Rs. bn)
(Sh. mn)
(Rs.bn)
(YTD)
KSE100
33.63
2,892
60.44
2.57
-1.40%
KSE30
6.85
589
46.09
2.36
-1.91%
KMI30
5.08
437
34.18
1.62
15.64%
KSE All
36.35
3,126
70.48
2.65
-1.70%
October 07 , 2011
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
170.91
113.40
1.87%
OGDC
15.50
135.95
135.21
-29.86%
UBL
2.00
59.50
43.62
1.87%
LUCK
1.70
76.05
37.07
1.87%
October 07 , 2011
F.I.P.I.  
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
13.07
-4.54
8.53
Foreign Corporates
242.93
-2,887.48
-2,644.55
Overseas Pakistani
270.00
-130.67
139.33
Grand Total
526.00
-3022.69
-2,496.68
F.I.P.I.
Foreign Investment              
Foreign Investors Portfolio Investment (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
06-Oct-11
07-Oct-11
Change
Gross Buy
561.76
-38.54%
11.39
8.18%
1.47
0.53
-64.21%
Gross Sell
-580.11
10.24%
-14.09
55.95%
-2.41
-3.02
25.17%
Net Buy/(Sell)
-18.63
-104.63%
-2.73
-278.30%
-0.95
-2.50
164.17%
S.C.R.A
Country
During the Period FY12TD
07-10-2011
Cumulative Inflow
Cumulative Outflow
Cumulative
Net flow
Inflow
Outflow
Net Flow
Equity
T-Bill
PIBs
Equity
T-Bill
PIBs
Equity
Equity
Hong Kong
1.17
-
-
3.64
-
-
-2.44
-
0.22
-0.26
Luxembourg
9.56
-
-
27.82
-
-
-18.26
1.03
0.01
1.01
Switzerland
10.83
0.18
-
15.13
-
-
-4.11
-
-
-
UAE
1.73
0.52
-
2.39
4.18
-
-4.85
-
-
-
UK
17.22
0.16
-
50.20
-
-
-32.86
0.41
1.03
0.62
USA
58.62
-
-
95.02
-
0.85
-37.24
0.67
1.51
0.85
Total
112.05
0.86
-
204.16
4.18
0.85
-96.84
2.10
2.80
0.70
News Clippings
Economy

Monetary policy: State Bank cuts interest rates to 12%

In a move that shocked experts, the State Bank of Pakistan on Saturday decided to cut its benchmark discount rate from 13.5% to 12%, citing lower inflation numbers, a controversial action that is nonetheless likely to reduce borrowing costs throughout the economy. more... (ET)

Eurozone debt: Exporters to take biggest hit if crisis deepens

Wu Wenlong, a belt maker in China, has seen European orders slump 50 per cent as the region’s debt crisis hits demand for Chinese exports and threatens to tip major economies back into recession. more... (ET)

Rise in bank borrowings

the State Bank conducted auction of Treasury Bills of various maturities. It raised Rs177bn through the auction. From 12 month T-bills it raised Rs109bn, where the cut off yield was reduced to 12.83 from 13.31 per cent. An amount of Rs64bn was raised for 6-month T-bills at a cut off yield of 12.77 per cent, and the central bank raised Rs4bn for 3-month T-bills at 12.74 per cent, a cut off 32 basis points. T-bill rate have seen a significant reduction. more... (D)

Nominal increase in weekly inflation

The Sensitive Price Indicator (SPI) for the week ended on Oct 6 registered a nominal increase of 0.06 per cent for the lowest income group (up to Rs8,000) over the previous week. more... (D)

Company & Sector Update

Inter-corporate debt: After PSO, refineries seek release of funds

The Oil Companies Advisory Committee (OCAC) has asked the petroleum ministry to come to the rescue of oil companies which have been plagued by runaway inter-corporate debt. more... (ET)

Textile and weaving: Death looms for a sick industry

Faisalabad, the textile capital of Pakistan, has now become a paradise for scrap-dealers due to the increasing trend of selling of weaving machines or power looms which were badly hit by the energy crisis, increase in running cost of business, insecurity and law and order problems. more... (ET)

Pakistan Steel Mills: Losses mount as raw material supplies dry up

Poor supply chain management, it appears, are largely to blame for the colossal losses mounting at the state-owned Pakistan Steel Mills, the largest steel company in the country, a firm that has requested three bailouts over the last three financial to years and is unlikely to be able close the current year without substantial financial support. more... (ET)

Bailout package: PIA may get Rs20b on condition of restructuring

A special cabinet panel on Friday linked a Rs20 billion cash injection request by Pakistan International Airlines (PIA) with undertaking restructuring, as the national carrier added another Rs10.7 billion to losses in the first half of the current year. more... (ET)

Political

Controversial appointment: Zardari picks retired admiral as NAB chief

President Asif Zardari has picked Fasih Bokhari, a retired chief of naval staff admiral, as the new chief for the National Accountability Bureau (NAB). Presidency spokesperson Farhatullah Babar confirmed the news to The Express Tribune.The move was immediately denounced by Zardari’s political opponents and seems unlikely to please the Supreme Court. more... (ET)

Saarc summit: Gilani to take up Pakistan-Tajik road link project with Karzai

Prime Minister Yousaf Raza Gilani on Sunday said that he would take up the Pakistan-Tajikistan road project with Afghan President Hamid Karzai during the forthcoming summit meeting of the South Asian Association for Regional Cooperation (Saarc) to be held in the Maldives next month. more... (ET)

PML-Q dissident calls for dissolution of PA

Tahir Ali Javed of PML-Q's splinter (unification) group suggested to the Punjab government on Sunday to dissolve the provincial assembly, in an apparent bid to force early elections in the country. more... (D)

PM on mission to seek support for Senate polls

The PPP high command has called upon Prime Minister Yousuf Raza Gilani to use all available resources at his disposal to gear up support for the upcoming Senate elections, sources said on Sunday. . more... (D)

GCC

Bank financing made easy for SMEs

The governor of the Saudi Arabian Monetary AgencySaudi Arabian Monetary AgencySaudi Arabian Monetary Agency SAMA (SAMASAMA) on Sunday launched a new system to assess the performance of small and medium enterprises (SMEs) in order for banks to finance them with confidence and without hesitation. more... (Zawya)

Saudi oil price hike shows Asia demand strength

Saudi Arabia has now entered a new phase in the petrochemical industry characterized as a period of unprecedented growth, Prince Saud Bin Thunayan Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu and SABIC, said in a keynote address formally opening the Second Saudi International Petrochemical Exhibition and Forum in Dammam Sunday.more.. .(zawya)

Trade among Islamic states to grow 20%

The International Islamic Trade Finance Corporation (ITFC), an affiliate of the IDB Group, is making intense efforts to increase trade among members of the Organization of Islamic Cooperation (OIC) to 20 percent of their total trade by 2015. It has given $13 billion since 2008 to finance trade. more... (Zawya)

Saudi Arabia: SATORP's debut sukuk oversubscribed 3.5 times


Saudi Aramco Total Refining and Petrochemical Company a joint venture between Saudi Aramco and TotalTotal S.A. of France, issued its debut sukuk Sunday and there are signs that several other potential Saudi issuers are lining up to go to the market preferring to raise funds in this way despite the continuing turmoil in the global financial market and economy. more... (Zawya)

Quote of the Day:

“ Nobody can give you advice after you've been collecting for a while. If you don't enjoy making your own decisions, you're never going to be much of a collector anyway. ”

Charles Saatchi

 
Economic Highlights
Economic Indicators
GDP Growth FY12E
4.20%
GDP -2011
$180 bn
Per Capita Income FY11
$1,250
Population
177.1mn
US$ Reserves (Oct 06, 2011)
$17.35 bn
Trade Balance ( Aug 11)
$-2.43bn
Curr. A/C (July 11- Aug 11)
$-189mn
Remittances (July 11- Aug 11)
$2.41bn
Foreign Investment (Jul 11-Aug 11)
$65.2mn
All Sch. Banks Deposit Base (Sep 23, 2011)
Rs757.26bn
Inflation
CPI Gen. - YoY (Sep-11) 10.50%
   
CPI Gen. - FY11 (Jul 11- Sep 11) 13.4%
   
NFNE Core INFL - YoY (Sep 11) 10.60%
   
NFNE Core INFL -FY11 (Jul 11 - Sep 11) 8.6%

Money Market

 
Price
Change
06-Oct-11
07-Oct-11
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
80.087
-0.05%
13.15%
13.16%
1.60
     
06-Oct-11
07-Oct-11
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
1,187.01
1,179.12
-7.89

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
12.65
12.63
12.65
12.70
Offer
13.15
12.88
12.90
13.20

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
13.40
13.30
12.90
13.00
13.00
13.00
Low  
13.40
13.25
12.80
12.75
12.70
12.55

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
89.10
119.35
1.17
138.56
24.40
1.77
0.58

T Bill Rates (%)
3 month
6 month
12 month
Avg.
12.50
12.60
12.60
Last Cut Off.
12.75
12.78
12.84
Bond Rates (%) Cut Off
Bid
Offer
Previous
Current
5-Y PIB
12.65
12.60
12.65
12.60
10 Y-PIB
12.63
12.55
12.63
12.55

10 Yr Govt bond (%)
Japan
Germany
US
UK
Australia
India
Pakistan
Yield
0.99
2.00
2.08
2.47
4.29
8.58
12.55
Change bps
0.00
6.00
10.00
8.00
3.00
0.00
0.00

Commodities

     
07-OCT-11
10-OCT-11
change
WTI (USD/bbl)    
82.87
83.58
0.86%
     
Brent (USD/bbl)    
105.98
106.13
0.14%
     
Arab Light (USD/bbl)    
103.45
103.01
-0.43%

Domestic
Current
Previous
Change
High Speed Diesel (litre)
94.15
92.64
1.63%
Furnace Oil (Rs/ton)
70,574.72
71,663.64
-1.52%
Cement (Rs. Bag Avg)
412.88
414.75
-0.45%
Urea Fertilizer (Rs/bag)
1,695.00
1,595.42
6.24%
Gold 24cr (Rs./10gm) Khi
48,644.90
48119.48
1.09%
Rice IRRI -6(Rs/100kg)
3,538.00
3,544.00
-0.17%
KCA Cotton (Rs/mound)
6,300.00
6,100.00
3.28%
International
Current
Previous
Change
Coal Spot(USD/ton)
122.25
122.50
-0.20%
Gold Futures
1,653.10
1,635.00
1.11%
Sugar 11 (USD/lb)
25.16
24.64
2.11%
Steel (USD/ton)
725.22
727.10
-0.26%
Wheat (CBT) (USD/bu)
607.50
616.25
-1.38%
PTA (USD/ton)
1,215.00
1,270.00
-4.33%
Copper (USD/ton)
7,349.50
7,208.25
1.96%

Kindly Click here for PDF Version

(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.