BasedLine

Date: 25-April-2012
KSE-100 Index
Previous Index 14,083.44
Current Index 14,132.59
Change % 0.35%
YTD (CY11) 24.54%
YTD (FY12) 13.10%
KSE-100 Index
Previous Index 24,382.23
Current Index 24,406.67
Change % 0.10%
YTD (CY11) 21.20%
YTD (FY12) 16.58%
International Indicators
 
Close
%age
BSE-30 17,207.29 0.65
HANGSENG 20,677.16 0.26
NIKKEI 225 9,468.04 -0.78
FTSE 5,709.49 0.78
DJIA 13,001.56 0.58
SSEC 2,388.83 0.01
NASDAQ 2,961.60 -0.30
 
Close
%age
TASI 7,512.26 -0.17
KSE(Kuwait) 6,327.60 0.02
BSE 1,148.10 -0.27
MSM 5,952.32 -0.11
ADX 2,505.09 0.23
DFM 1,670.05 1.80
QSE 8,664.20 -0.34
Capital Market Overview

Market Watch: Stocks close in the black, but with clipped gains

The stock market closed in the black on Tuesday, albeit with clipped gains. Much positivity was generated by rumours that the long-awaited Capital Gains Tax amnesty has been cleared by the law ministry and awaits the President’s approval. The Karachi Stock Exchange’s (KSE) benchmark 100-share index gained 0.35% or 49.15 points to end at the 14,132.59 point level. more... (ET)

NAVs and Returns
as of April 24, 2012
Funds Offer Redemption
POGSF
10.3028/-
10.3028/-
YTD Return
10.73%
POAIIF
53.1984/-
52.6664/-
YTD Return
11.51%
POAAAF
54.32/-
52.96/-
YTD Return
4.83%
POIAAF
61.70/-
60.16/-
YTD Return
15.14%
POAF
11.24/-
YTD Return
11.10%
Funds Rating
AMC
AM3
POAIIF
A+ (f)
POAF
AA-
POAAAF
3 Star
POIAAF
5 Star
  Mar-12 Feb-12
MoM (%)
AUM's (PKR bn) 330.78 360.15 -8.15%
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
38.74
3,332
212.85
8.21
24.54%
KSE30
7.60
654
130.93
6.89
21.65%
KMI30
5.54
477
83.30
4.58
21.20%
KSE All
41.86
3,600
297.16
8.86
26.41%
April 24 , 2012
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
176.57
117.94
-11.40%
OGDC
16.35
163.54
148.33
6.90%
UBL
2.00
83.37
45.36
34.66%
LUCK
1.70
133.59
38.56
88.58%
April 24 , 2012
F.I.P.I.  
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
284.30
-60.13
224.17
Foreign Corporates
6,333.70
-7,991.19
-1,657.49
Overseas Pakistani
1,224.66
-850.01
374.65
Grand Total
7,842.65
-8,901.33
-1,058.67
F.I.P.I.
Foreign Investment              
Foreign Investors Portfolio Investment (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
23-April-12
24-April-12
Change
Gross Buy
265.86
-10.46%
69.37
11.80%
1.49
7.84
425.85%
Gross Sell
-240.91
-0.46%
-60.92
33.82%
-1.00
-8.90
789.57%
Net Buy/(Sell)
24.39
-56.57%
8.26
-48.86%
0.49
-1.06
-315.71%
S.C.R.A
Country
During the Period FY12TD
20-04-2012
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
-
-
15.59
-
-
-4.42
-
-
-
Luxembourg
30.12
-
-
33.00
-
-
-28.36
0.22
0.01
0.21
Switzerland
30.67
0.91
-
33.70
1.27
-
-3.40
0.84
-
0.84
UAE
7.43
0.52
-
3.89
4.46
-
-0.93
-
-
-
UK
57.52
18.13
-
136.64
0.29
3.47
-64.81
1.65
1.82
-0.19
USA
162.60
-
-
253.56
-
19.06
-110.01
0.24
0.09
0.15
Total
356.94
22.24
-
550.89
8.71
29.22
-210.19
3.10
2.05
1.03
News Clippings
Economy

Pakistan to receive $13.5b in remittances

“Pakistan will receive a record $13.5 billion in foreign remittances – a sign of overseas Pakistanis’ confidence in the economic policies of the government, which have now put the national economy on the path to stability and growth,” Finance Minister Dr Abdul Hafeez Shaikh said on Monday. more... (ET)

Pakistan to test Korean development model

olicy-makers in Pakistan will now strengthen and upgrade country’s economic development policies by testing the Korean economic development model. The government has accepted an offer by the South Korean government to help policy makers under the Korean Knowledge Sharing Programme (KSP). more... (D)

Pro-poor expenditure posts 90pc growth in 1HFY12

The pro-poor expenditure by the federal and four provincial governments during the first half (July to January) period of the ongoing fiscal year 2011-12 has witnessed 90 percent increase and amounted to Rs 919.564 billion against the expenditure of Rs 482.815 billion in the same period of last fiscal year 2010-11. more... (DT)

Local business groups showing interest in foreign assets

With decrease of 46.6 percent and continuous downward trend of foreign direct investment (FDI), the Pakistani economy would have seen further pressure if local business houses had not shown interest in acquiring the assets and operations left by foreign investors, experts said while commenting on interest shown by local banks in HSBC operations. more... (DT)

Company & Sector Update

Textile exports drop as energy shortages bite

The energy crisis has left a devastating impact on the textile industry as exports of various products dropped in the range of 22% to 43% in March compared to the corresponding month of previous year. more..(ET)

Engro Fertilizer falls victim to gas shortage

Engro Fertilizer followed its peers and switched to a loss making regime amid significant decline in gas supply during the first three months of the current year. more... (ET)

Corporate Results: Banking sector off to a good start

The banking sector is off to a good start in 2012 as three of the country’s big five banks posted healthy profits in the first quarter of the year on Tuesday. Habib Bank and Allied Bank profits grew by 22% while MCB Bank followed with an increase of 12% during January to March 2012. more... (ET)

Inflationary trends badly hit cement industry: APCMA

An exhaustive analysis of inflationary trends in Pakistan interestingly reveals that ex-factory prices of cement per bag have not increased in proportion to other construction industry inputs in the last 10 years, which has rendered the balance sheets of most cement companies impaired and the industry has been recording huge financial losses. more... (ET)

Political

SC reserves verdict in contempt of court case against Gilani

The Supreme Court has reserved the verdict in the contempt of court case against Prime Minister Syed Yousuf Raza Gilani, the media reported on Monday. A seven-member special bench, headed by Justice Nasirul Mulk had resumed the hearing earlier in the day . more... (BR)

Ex-general tipped to head Pakistan Steel

The government has finally made up its mind to appoint Maj-Gen (retd) Mohammad Javed as chief executive of Pakistan Steel Mills after keeping the country’s largest but loss-making industrial unit without a leader for almost two years. more... (ET)

SRO on amnesty to be prepared

A meeting on alleged issuance of fake and flying invoices and raid and registration of FIRs against businessmen without taking the business community into confidence held. more... (DT)

Govt fails to justify withdrawal of Rs 15.70 billion from WWF

The government is still unclear in justifying withdrawal of Rs 15.70 billion from the Protector of Emigrants Workers Welfare Fund (WWF). The Ministry of Finance and relevant departments have also failed to submit any response to the Special Committee of Public Accounts Committee (PAC) of the National Assembly. more... (DT)

GCC

New transport system aims to generate major savings

The approval of the Council of Ministers on Monday of the implementation of the Public Transport Project (PTP) in Riyadh came after the High Authority for the Development of Riyadh (HADR) had formulated a comprehensive plan. more... (Zawya)

Integrated information zones opened in all Dubai airport terminals

Dubai Airports Monday launched integrated Information zones in the three terminals of Dubai International Airport (DIA), enabling passengers to navigate their way around the airport. more... (Gulf News)

KSA’s net foreign assets hit almost $600b in 2011

Saudi Arabia’s combined foreign assets grew rapidly in recent years to stand at $707 billion at the end of 2010, Jadwa Investment said Tuesday. With Saudi entities and individuals owing $213 billion to foreigners, total net foreign assets stood at $494 billion at the end of 2010. more. (Gulf Base)

KSA businesses stable on strong, resilient economy

Saudi business sector remains "resilient" and would continue to enjoy "stability" in the second quarter of this year, the National Commercial Bank (NCB) said Tuesday at the launch of its Business Optimism Index for Q2 2012, in association with Dun and Bradstreet South Asia Middle East Ltd. (D&B). more... (Gulf Base)

Quote of the Day:

"You will find the key to success under the alarm clock." Benjamin Franklin




 
Economic Highlights
Economic Indicators
GDP Growth FY12E
3.60%
GDP -2011
$180 bn
Per Capita Income FY11
$1,254
Population
178.09mn
US$ Reserves (Apr 06, 2012)
$16.52 bn
Trade Balance ( July-Mar 12)
$-16.09bn
Curr. A/C (July 11-Mar 12)
$-3.08bn
Remittances (July 11- Mar 12)
$9.73n
Foreign Investment (Jul 11-Mar 12)
$466.50mn
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
23-Apr-12
20-Apr-12
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
84.85
-0.02%
12.08%
12.07%
0.90
     
23-Apr-12
20-Apr-12
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
877.58
876.97
0.62

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
11.56
11.70
11.76
11.86
Offer
12.06
11.95
12.01
12.36

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
11.90
11.75
11.75
11.75
11.90
11.95
Low  
11.80
11.60
11.65
11.65
11.75
11.85

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
91.55
120.50
1.13
147.30
24.85
1.06
0.73

T Bill Rates (%)
3 month
6 month
12 month
Avg.
11.84
11.92
11.98
Last Cut Off.
11.87
11.94
11.94
Bond Rates (%) Cut Off
Bid
Offer
Previous
Current
5-Y PIB
13.05
12.95
12.95
12.94
10 Y-PIB
13.29
13.27
13.23
13.20

10 Yr Govt bond (%)
Japan
Germany
US
UK
Australia
India
Pakistan
Yield
0.92
1.64
1.92
2.12
3.66
8.57
13.27
Change bps
0.00
-7.00
-4.00
-6.00
-11.00
2.50
4.00

Commodities

     
24-Apr-12
25-Apr-12
change
WTI (USD/bbl)    
102.92
103.73
0.79%
     
Brent (USD/bbl)    
118.58
118.33
-0.21%
     
Arab Light (USD/bbl)    
118.71
117.23
-1.25%

Domestic
Current
Previous
Change
High Speed Diesel (litre)
108.16
103.46
4.54%
Furnace Oil (Rs/ton)
83,022.36
84,408.56
-1.64%
Cement (Rs. Bag Avg)
442.88
434.75
1.87%
Urea Fertilizer (Rs/bag)
1,793.33
1,797.50
-0.23%
Gold 24cr (Rs./10gm) Khi
48,684.32
48,315.76
0.76%
Rice IRRI -6(Rs/100kg)
3,475.00
3,479.00
-0.11%
KCA Cotton (Rs/mound)
6,000.00
5,800.00
2.56%
International
Current
Previous
Change
Coal Spot(USD/ton)
101.55
102.40
-0.83%
Gold Futures(USD/oz)
1,642.70
1,636.60
0.37%
Sugar 11 (USD/lb)
21.61
21.54
0.32%
Steel (USD/ton)
692.71
693.34
-0.09%
Wheat (CBT) (USD/bu)
632.50
623.00
1.52%
PTA (USD/ton)
1,170.00
1,165.00
0.43%
Copper (USD/ton)
8,124.00
8,240.00
-1.41%

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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.