BasedLine

Date: 15-March-2012
KSE-100 Index
Previous Index 13,283.65
Current Index 13,360.67
Change % 0.58%
YTD (CY11) 17.74%
YTD (FY12) 6.92%
KSE-100 Index
Previous Index 22,934.77
Current Index 23,009.41
Change % 0.33%
YTD (CY11) 14.26%
YTD (FY12) 9.90%
International Indicators
 
Close
%age
BSE-30 17,919.30 0.59
HANGSENG 21,307.90 -0.15
NIKKEI 225 10,050.50 1.53
FTSE 5,945.43 0.18
DJIA 13,194.10 0.12
SSEC 2,388.26 -0.12
NASDAQ 3,040.73 0.03
 
Close
%age
TASI 7,567.98 0.62
KSE(Kuwait) 6,163.80 0.25
BSE 1,149.13 -0.27
MSM 5,975.31 0.30
ADX 2,630.11 0.27
DFM 1,691.00 0.53
QSE 8,627.34 -0.03
Capital Market Overview

Market watach: Stock market regains upward drive

The stock market recovered some of its recent bullishness, with volumes and levels improving during trading on Wednesday. The Karachi Stock Exchange’s (KSE) benchmark 100-share index rose 0.58% or 77.02 points to end at 13,360.67 point level. more... (ET)

NAVs and Returns
as of March 14, 2012
Funds Offer Redemption
POGSF
10.1996/-
10.1996/-
YTD Return
11.06%
POAIIF
52.7111/-
52.1840/-
YTD Return
12.05%
POAAAF
49.82/-
48.57-
YTD Return
-3.86%
POIAAF
56.93/-
55.51/-
YTD Return
6.24%
POAF
11.12/-
YTD Return
11.31%
Funds Rating
AMC
AM3
POAIIF
A+ (f)
POAF
AA-
POAAAF
3 Star
POIAAF
5 Star
  Jan-12 Dec-11
MoM (%)
AUM's (PKR bn) 320.28 264.26 20.56%
No of AMCs 24 24 -
No of Funds 124 123 0.81%
KSE Market Data
KSE Market Data
Capitalization
Volume
Traded Val.
KSE Return
 
(USD bn)
(Rs. bn)
(Sh. mn)
(Rs.bn)
(YTD)
KSE100
36.95
3,177
172.40
4.83
17.74%
KSE30
7.32
630
82.87
4.00
17.17%
KMI30
5.05
434
41.46
2.24
14.26%
KSE All
40.33
3,468
347.21
5.83
18.98%
March 14 , 2012
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
180.51
180.51
-9.43%
OGDC
16.50
165.34
165.34
8.07%
UBL
2.00
73.92
45.39
19.40%
LUCK
1.70
101.88
38.58
43.82%
March 14 , 2012
F.I.P.I.  
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
78.07
-355.09
-277.02
Foreign Corporates
2,777.64
-2,240.62
537.03
Overseas Pakistani
704.12
-542.73
161.39
Grand Total
3,559.83
-3,138.43
421.40
F.I.P.I.
Foreign Investment              
Foreign Investors Portfolio Investment (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
13-Mar-12
14-Mar-12
Change
Gross Buy
158.96
-25.83%
38.38
67.25%
3.51
3.56
1.42%
Gross Sell
-133.75
-14.42%
-21.07
16.22%
-2.53
-3.14
-24.05%
Net Buy/(Sell)
24.65
-58.50%
16.92
259.40%
0.99
0.42
-57.43%
S.C.R.A
Country
During the Period FY12TD
13-03-2012
Cumulative Inflow
Cumulative Outflow
Cumulative
Net flow
Inflow
Outflow
Net Flow
Equity
T-Bill
PIBs
Equity
T-Bill
PIBs
Equity
Equity
Hong Kong
8.31
-
-
14.30
-
-
-5.99
-
0.01
-0.01
Luxembourg
27.59
-
-
33.00
-
-
-27.88
0.42
0.01
0.41
Switzerland
27.19
0.40
-
29.67
1.27
-
-3.36
-
-
-
UAE
7.06
0.52
-
3.68
4.46
-
-1.09
-
-
-
UK
44.40
0.16
-
116.81
0.29
3.47
-76.04
0.15
0.84
-0.68
USA
143.70
-
-
220.06
-
19.06
-95.41
3.84
-
3.84
Total
303.48
3.77
-
471.54
8.71
29.22
-202.75
4.73
0.86
3.87
News Clippings
Economy

Frequent changes in legislation: Tax-to-GDP ratio lowered

The frequent changes in tax legislation have distorted the overall tax structure, which has played a key role in lowering tax-to-GDP ratio in Pakistan.Many changes in the tax system were either made to cater to the interest of specific economic sectors or firms, or introduced as matter of administrative convenience, as was the case of zero rating of five sectors. more... (BR)

After Karachi, British investment shifts to Punjab

After exploring investment avenues in Karachi, Britain is now interested in finding business opportunities in Punjab which has tremendous potential in many areas. In this regard, the British embassy will soon open an office in Lahore to look into investment matters. more... (ET)

Dollar surges vs rupee

The dollar moved up versus the rupee in the interbank market, dealers said Wednesday. It opened the day’s trading at Rs 90.73 for buying, gained two paisas and closed at Rs 90.75 for buying and Rs 90.80 for selling. The European currency posted losses against the rupee as it began the day’s trading at Rs 119.21 for buying, depreciated by 64 paisas and closed at Rs 118.57 for buying and Rs 118.77 for selling. more... (DT)

OICCI recommends broadening tax base, withdrawal of tax exemptions

Overseas Investors Chamber of Commerce and Industry (OICCI) stressed the need to document and tax all sectors of the economy to broaden the tax base and eradicate tax evasion. All legal entities including individuals, association of persons, corporate and NGOs/NPOs should file annual tax returns, In case the earned income falls under the exempt category then exemption may be claimed separately. more... (DT)

Company & Sector Update

Cellular subscription rose by 1.73 million in January

Mobile phone subscription saw a steep growth in January with a sale of 1.73 million subscriber identity modules (SIMs) by different cellular companies, Pakistan Telecommunication Authority (PTA) statistics said on Wednesday. The overall subscribers’ base has increased to 114 million with the tele-density at 66.5 percent by January 2012 throughout the country. more... (DT)

Govt considering doing away with bank secrecy rules

Federal government is reportedly considering doing away with bank secrecy regulations which according to the Federal Board of Revenue (FBR) are pretty much anachronistic and will obstruct Pakistan's efforts to integrate with the world economy in the years to come. more... (BR)

Country may need to import 1m cotton bales

President Dera Ghazi Khan Chamber of Commerce and Industry (DGKCCI) Khawaja Mohammad Anis said on Wednesday that textile sector is expected to consume 15 million bales of cotton and the country may have to import one million bales to meet the requirement. more... (BR)

3G auction date remains a mystery

The government could not finalise the new schedule for the auction of 3G licences on Wednesday as two key ministers were not present at the meeting.Pakistan Telecommunication Authority (PTA) could not present fresh dates for the auction and reiterated its old stance of completing the transaction in the third week of June, officials told The Express Tribune. more... (ET)

Political

Tough conditions’: NATO routes set to reopen

Pakistan appears to have given in to mounting Western pressure – finally. Islamabad is inching closer to unplugging the Nato supply routes that it had blocked in protest at the November 26, 2011 deadly Nato air raid on Pakistani border posts in Mohmand Agency. more... (ET)

US, Pakistan exploring terms of engagement

The United States and Pakistan explore new terms of engagement as they contemplate various options for rebuilding a relationship which has deteriorated rapidly since January 2011. more... (D)


Ishaq Dar new leader of opposition in Senate

Backed by all 24 opposition members, including seven from Jamiat Ulema-i-Islam (JUI-F), Ishaq Dar of the Pakistan Muslim League-Nawaz (PML-N) on Wednesday was declared as the new opposition leader in the Senate. more... (D)

Pakistan, Sweden vow to double bilateral trade

Pakistan and Sweden on Wednesday agreed to double their trade volume to $900 million from the current level of $450 million by 2014.
The understanding was reached at a meeting between Foreign Minister Hina Rabbani Khar and her Swedish counterpart Carl Bildt in Islamabad. more... (DT)

GCC

Middle East set for surge in mergers and acquisitions

Dubai The Middle East is set for a revival in mergers and acquisitions (M&As) this year following a long lull, according to a recent survey of business leaders by DLA Piper, a global law firm. The study based on data from 90 online interviews with DLA Piper's regional database showed the Gulf will witness a strong revival in M&As largely driven by improved liquidity, a pick-up in bank lending and the growing financial requirements for regional firms to expand. more... (Gulf News)

Iraq reaches $500m debt deal with Kuwait

Baghdad Iraq has reached a $500 million (Dh1.83 billion) agreement with Kuwait to resolve a standoff over Gulf War-era debts that had prevented Iraqi Airways from flying to destinations in the West, an aide to Prime Minister Nouri Al Maliki said Wednesday. more... (Gulf News)

Banking: GCC banks close to pre-crisis levels of profitability

Dubai Gulf banks are expected to return to pre-crisis levels of profitability this year, according to a study by A.T. Kearney, a global management consultant. The study reckoned that the ongoing European crisis notwithstanding, growth opportunities exist in a number of markets and sustained overall growth in GCC banking is expected. more. (Gulf News)

UAE economy could grow 2.3 per cent, IMF says

The International Monetary Fund said the UAE's real gross domestic product (GDP) will grow at 2.3 per cent this year, down from 4.9 per cent growth rate recorded last year, while inflation will remain at 1.5 per cent this year. more... (Gulf News)

Quote of the Day:

" Conquest is not in our principles. It is inconsistent with our government. "
Thomas Jefferson





 
Economic Highlights
Economic Indicators
GDP Growth FY12E
3.60%
GDP -2011
$180 bn
Per Capita Income FY11
$1,254
Population
178.09mn
US$ Reserves (Mar 02, 2012)
$16.34 bn
Trade Balance ( July-Feb 12)
$-14.60bn
Curr. A/C (July 11-Jan 12)
$-2.63bn
Remittances (July 11- Jan 12)
$7.44bn
Foreign Investment (Jul 11-Jan 12)
$4.46bn
All Sch. Banks Deposit Base (Mar 02, 2012)
Rs824.99bn
Inflation
CPI Gen. - YoY (Feb-12) 11.1%
   
CPI Gen. - FY12 (Jul 11- Feb 12) 10.8%
   
NFNE Core INFL - YoY (Feb 12) 10.6%
   
NFNE Core INFL -FY12(Jul 11 - Feb 12) 10.3%

Money Market

 
Price
Change
14-Mar-12
13-Mar-12
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
82.775
0.31%
12.72%
12.80%
-8.30
     
14-Mar-12
13-Mar-12
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
788.38
795.81
-7.43

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
11.48
11.63
11.69
11.79
Offer
11.98
11.88
11.94
12.29

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
9.15
11.40
11.70
11.75
11.80
11.85
Low  
9.05
11.25
11.55
11.60
11.65
11.70

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
91.00
119.50
1.10
142.80
24.90
1.19
0.74

T Bill Rates (%)
3 month
6 month
12 month
Avg.
11.77
11.87
11.92
Last Cut Off.
11.83
11.90
11.94
Bond Rates (%) Cut Off
Bid
Offer
Previous
Current
5-Y PIB
12.90
12.88
12.88
12.94
10 Y-PIB
13.10
13.06
13.06
13.20

10 Yr Govt bond (%)
Japan
Germany
US
UK
Australia
India
Pakistan
Yield
1.04
1.95
2.32
2.34
4.26
8.28
13.06
Change bps
4.00
13.00
18.00
17.00
23.00
-4.00
0.00

Commodities

     
14-Mar-12
15-Mar-12
change
WTI (USD/bbl)    
106.77
105.73
-0.16%
     
Brent (USD/bbl)    
126.10
125.00
-0.87%
     
Arab Light (USD/bbl)    
125.78
125.06
-0.57%

Domestic
Current
Previous
Change
High Speed Diesel (litre)
103.46
98.82
4.70%
Furnace Oil (Rs/ton)
82,228.92
80,283.60
2.42%
Cement (Rs. Bag Avg)
425.63
426.25
-0.15%
Urea Fertilizer (Rs/bag)
1,806.25
1,800.83
0.30%
Gold 24cr (Rs./10gm) Khi
49,524.90
49,537.16
-2.04%
Rice IRRI -6(Rs/100kg)
3,426.00
3,477.00
-1.47%
KCA Cotton (Rs/mound)
5,200.00
5,300.00
-1.89%
International
Current
Previous
Change
Coal Spot(USD/ton)
105.95
110.95
-4.51%
Gold Futures
1,644.88
1,674.10
-1.75%
Sugar 11 (USD/lb)
24.44
24.13
1.28%
Steel (USD/ton)
684.29
682.77
0.22%
Wheat (CBT) (USD/bu)
643.75
649.00
-0.81%
PTA (USD/ton)
1,205.00
1,210.00
-0.41%
Copper (USD/ton)
8,473.50
8,562.00
-1.03%

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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.