BasedLine

Date: 09-April-2012
KSE-100 Index
Previous Index 13,831.47
Current Index 13,875.53
Change % 0.32%
YTD (CY11) 22.28%
YTD (FY12) 11.04%
KSE-100 Index
Previous Index 23,789.12
Current Index 23,820.54
Change % 0.13%
YTD (CY11) 18.29%
YTD (FY12) 13.78%
International Indicators
 
Close
%age
BSE-30 17,289.02 -1.10
HANGSENG 20,593.00 -0.95
NIKKEI 225 9,688.45 -0.81
FTSE 5,723.67 0.35
DJIA 13,060.10 -0.11
SSEC 2,302.18 -0.02
NASDAQ 3,080.50 0.50
 
Close
%age
TASI 7,717.72 -1.84
KSE(Kuwait) 6,153.60 0.13
BSE 1,143.05 0.16
MSM 5,841.50 0.25
ADX 2,558.14 -0.03
DFM 1,668.62 -1.06
QSE 8,778.27 -0.53
Capital Market Overview

Weekly review: Stock market all set to move up in the world

The market witnessed a mixed week after the benchmark KSE-100 index surged past the 14,000-point barrier only to be brought down again by profit-taking and posting a modest gain of 114 points (0.8 percent) to close at the 13,875 points, during the week ended April 6. more... (ET)

NAVs and Returns
as of April 06, 2012
Funds Offer Redemption
POGSF
10.2625/-
10.2625/-
YTD Return
10.94%
POAIIF
52.9831/-
52.4533/-
YTD Return
11.72%
POAAAF
52.94/-
51.62/-
YTD Return
2.18%
POIAAF
60.69/-
59.17/-
YTD Return
13.24%
POAF
11.23/-
YTD Return
11.66%
Funds Rating
AMC
AM3
POAIIF
A+ (f)
POAF
AA-
POAAAF
3 Star
POIAAF
5 Star
  Feb-12 Jan-12
MoM (%)
AUM's (PKR bn) 334.07 320.29 4.30%
No of AMCs 24 24 -
No of Funds 124 124 -
KSE Market Data
KSE Market Data
Capitalization
Volume
Traded Val.
KSE Return
 
(USD bn)
(Rs. bn)
(Sh. mn)
(Rs.bn)
(YTD)
KSE100
38.18
3,284
209.56
6.21
22.28%
KSE30
7.48
643
82.73
4.87
19.69%
KMI30
5.42
467
43.76
3.01
18.29%
KSE All
41.47
3,566
433.02
7.44
24.09%
April 06 , 2012
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
173.80
117.70
-12.79%
OGDC
16.35
168.61
148.03
10.21%
UBL
2.00
74.73
45.27
20.71%
LUCK
1.70
127.57
38.48
80.08%
April 06 , 2012
F.I.P.I.  
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
28.16
-136.74
-108.58
Foreign Corporates
98.44
-841.91
743.47
Overseas Pakistani
733.25
-989.38
256.14
Grand Total
859.85
-1,968.04
1,108.19
F.I.P.I.
Foreign Investment              
Foreign Investors Portfolio Investment (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
05-April-12
06-April-12
Change
Gross Buy
212.48
-21.55%
15.99
26.10%
2.54
0.86
-66.11%
Gross Sell
-197.67
-7.69%
-17.68
39.25%
-2.50
-1.97
21.16%
Net Buy/(Sell)
14.48
-75.05%
-1.65
-118.87%
0.04
-1.11
-2806.83%
S.C.R.A
Country
During the Period FY12TD
05-04-2012
Cumulative Inflow
Cumulative Outflow
Cumulative
Net flow
Inflow
Outflow
Net Flow
Equity
T-Bill
PIBs
Equity
T-Bill
PIBs
Equity
Equity
Hong Kong
11.17
-
-
15.17
-
-
-4.00
-
-
-
Luxembourg
29.83
-
-
33.00
-
-
-27.91
0.01
-
-
Switzerland
28.91
0.91
-
31.93
1.27
-
-3.38
0.01
0.08
-0.07
UAE
7.14
0.52
-
3.79
4.46
-
-1.12
-
-
-
UK
50.36
10.42
-
130.25
0.29
3.47
-73.26
0.18
1.54
-1.37
USA
153.62
-
-
235.31
-
19.06
-100.71
0.04
0.68
-0.64
Total
336.79
14.53
-
518.45
8.71
29.22
-205.59
5.97
2.31
3.66
News Clippings
Economy

SBP injects Rs222.8bn in the market

State Bank of Pakistan (SBP), in its reverse repo open market operation (OMO) in treasury bills and Pakistan Investment Bond, has injected Rs 222.800 billion on April 6, 2012. According to SBP here Friday, the offered amount was Rs 227.800 billion for 7-day reverse repo. The rate of return was 11.55 percent. more... (BR)

Aid and assistance: Govt expects substantial foreign flows in 3 months

As Pakistan and the United States inch towards improving relations, currently at the lowest ebb since 9/11, Islamabad has expressed hope that it will be able to get $3.5 billion in foreign assistance before the close of current financial year in June. more... (ET)

Redoing the revenue and expenditure policy

Weak fiscal structure is one of the major policy areas Pakistan seriously needs to concentrate on to strengthen its public finances. This was recommended by the International Monetary Fund (IMF) in its country report released in February 2012. IMF’s advice is not misplaced, especially in the context of the yawning fiscal deficit and low tax-to-GDP ratio. more... (ET)

Govt promises fiscal discipline in budget

Election years are a slippery slope for the country’s finances – but the government insists it will remain disciplined. For the next financial year 2012-13, the government plans to not only reduce its budget deficit by 0.5%, compared to the current fiscal year, but also increase the tax target to roughly Rs2,375 billion. more... (ET)

Company & Sector Update

Multinational cigarette-making cos: FBR to conduct focused study

Directorate General of Intelligence and Investigation Inland Revenue (IR) Federal Board of Revenue (FBR) has decided to conduct focused study of multinational cigarette manufacturing companies and in-depth research of tobacco sector with the help of Pakistan Tobacco Board (PTB) under the national drive to improve sales tax and Federal Excise Duty (FED) collection from cigarette industry. more..(BR)

Apple set to be the first $1 trillion firm?

The world’s insatiable appetite for all things Apple appears to be reaching new levels. Silicon Valley’s hottest company could soon become the world’s first trillion-dollar company, according to Wall Street analysts. more... (D)

Debt repayment to banks: Nine IPPs default

Deeply concerned over the deteriorating power sector's financial affairs, nine IPPs that had invoked GoP guarantees, have defaulted on debt repayment to banks due on March 31, 2012, well-informed sources in the Ministry of Water and Power told Business Recorder. more... (BR)

Work on Karachi Circular Railway to begin next year

Managing Director Karachi Urban Transport Corporation (KUTC) Aijaz Hussain Khilji has said that there were no big hurdles regarding the Karachi Circular Railway (KCR) project; however, such mega projects take time, as several factors need thorough study and investigation before the initiation. more... (DT)

Political

Zardari and Manmohan Singh agree to promote bilateral relations

President Asif Ali Zardari and Indian Prime Minister Dr. Manmohan Singh on Sunday discussed all bilateral issues and agreed to further improve and promote these ties. more... (BR)

US offers financial aid against reopening of NATO supply route

The US has offered a lucrative monetary favour to the coalition government led by the Pakistan Peoples’ Party (PPP) for the federal budget 2012-13 in exchange for resumption of supply routes of NATO forces stationed in Afghanistan, Daily Times has learnt. more... (DT)

Imran flays Zardari’s India visit amid Siachen tragedy


Pakistan Tehreek-e-Insaf chief Imran Khan criticised President Zardari’s visit to India in the wake of the tragedy afflicted on Pakistan army in Siachin. Addressing a public gathering at College Ground on Sunday where some 20,000 to 25,000 people were in attendance, Imran said: “The nation will not forgive leaders who have no respect for the nation and its institutions, and who do not know how to stand by the state in trying times.” more... (ET)

Filling ECP’s vacant slots a tricky business

The chief election commissioner’s (CECs) retirement, followed by the abrupt exit of a key man in the commission – its secretary – has vacated the two most important slots in the Election Commission of Pakistan (ECP). more... (ET)

GCC

Gulf banks’ assets see 9% growth to QR1.46tn: study

Banks in the Gulf have reported a 9% growth in their total assets to QR1.46tn, which is equivalent to 106% of the region’s gross domestic product (GDP), according to a study by QNB. This growth has been attributed to the economic boom in the region coming on the back of high oil prices. more... (Gulf Base)

Demand for affordable housing in Kingdom a prime concern: Experts

Lack of supply of affordable homes is a concern in the Middle East as a whole and no more so than Saudi Arabia, said Cityscape, the organizers of CityscapeConnect Business Breakfasts networking event. Leading real estate experts from the region are in Saudi Arabia for a key round table that discusses the Kingdom’s affordable housing issues and also ways to tackle the problem. more... (Gulf Base)

Emirates considers bond refinancing

Emirates airline could look at refinancing a $550 million (Dh2.02 billion) bond maturing in June as borrowing costs fall, according to a company executive. Gary Chapman, president of Emirates’ dnata unit and services, was quoted yesterday by Bloomberg as saying the airline will study the economics of both bonds and sukuk as refinancing options. more. (Zawya)

Key health projects awarded in Saudi Arabia

The Ministry of Health will implement three key medical projects in Riyadh at a total cost of over SR967.52 million. Riyadh Gov. Prince Sattam attended the contract signing ceremony held at his office here yesterday. Minister of Health Dr. Abdullah Al-Rabeeah signed the contracts that were awarded to Al-Fawzan Contracting Company. more... (Zawya)

Quote of the Day:

" Coming together is a beginning; keeping together is progress; working together is success."

Henry Ford







 
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-Feb 12)
$-2.95bn
Remittances (July 11- Feb 12)
$8.59bn
Foreign Investment (Jul 11-Feb 12)
$430.20mn
All Sch. Banks Deposit Base (Mar 02, 2012)
Rs824.99bn
Inflation
CPI Gen. - YoY (Mar-12) 10.8%
   
CPI Gen. - FY12 (Jul 11- Mar 12) 10.8%
   
NFNE Core INFL - YoY (Mar 12) 10.9%
   
NFNE Core INFL -FY12(Jul 11 - Mar 12) 10.4%

Money Market

 
Price
Change
06-Apr-12
05-Apr-12
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
84.15
-0.25%
12.29%
12.21%
7.70
     
06-Apr-12
05-Apr-12
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
882.77
880.34
2.43

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
11.53
11.67
11.74
11.84
Offer
12.03
11.92
11.99
12.34

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
11.80
11.70
11.75
11.75
11.90
11.95
Low  
11.00
11.65
11.65
11.65
11.75
11.85

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
91.10
119.50
1.11
144.50
24.85
1.07
0.73

T Bill Rates (%)
3 month
6 month
12 month
Avg.
11.83
11.90
11.96
Last Cut Off.
11.87
11.94
11.94
Bond Rates (%) Cut Off
Bid
Offer
Previous
Current
5-Y PIB
12.95
12.91
12.92
12.94
10 Y-PIB
13.23
13.21
13.22
13.20

10 Yr Govt bond (%)
Japan
Germany
US
UK
Australia
India
Pakistan
Yield
0.97
1.74
2.07
2.16
4.03
8.78
13.22
Change bps
-2.00
0.00
-5.00
0.00
-2.00
0.00
-2.00

Commodities

     
06-Apr-12
09-Apr-12
change
WTI (USD/bbl)    
103.31
102.14
-1.13%
     
Brent (USD/bbl)    
123.43
122.44
-0.80%
     
Arab Light (USD/bbl)    
122.54
123.54
-0.82%

Domestic
Current
Previous
Change
High Speed Diesel (litre)
108.16
103.46
4.54%
Furnace Oil (Rs/ton)
84,408.56
83,023.52
1.67%
Cement (Rs. Bag Avg)
434.75
428.25
1.52%
Urea Fertilizer (Rs/bag)
1,800.00
1,793.75
0.35%
Gold 24cr (Rs./10gm) Khi
48,514.00
48,598.61
0.71%
Rice IRRI -6(Rs/100kg)
3,489.00
3,566.00
-2.16%
KCA Cotton (Rs/mound)
5,400.00
5,300.00
1.89%
International
Current
Previous
Change
Coal Spot(USD/ton)
104.40
105.95
-1.46%
Gold Futures(USD/oz)
1,641.80
1,630.10
0.72%
Sugar 11 (USD/lb)
23.70
23.54
0.68%
Steel (USD/ton)
694.92
692.76
0.31%
Wheat (CBT) (USD/bu)
638.50
639.25
-0.12%
PTA (USD/ton)
1,170.00
1,150.00
1.74%
Copper (USD/ton)
8,382.00
8,358.50
0.28%

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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.