BasedLine

Date: 11-May-2012
KSE-100 Index
Previous Index 14,613.59
Current Index 14,420.19
Change % -1.32%
YTD (CY12) 27.08%
YTD (FY12) 15.40%
KSE-100 Index
Previous Index 25,124.00
Current Index 24,767.74
Change % -1.42%
YTD (CY12) 22.99%
YTD (FY12) 18.30%
International Indicators
 
Close
%age
BSE-30 16,420.05 -0.36
HANGSENG 20,227.28 -0.51
NIKKEI 225 9,009.65 -0.39
FTSE 5,543.95 0.25
DJIA 12,855.04 0.16
SSEC 2,410.23 0.06
NASDAQ 2,933.64 -0.04
 
Close
%age
TASI 7,221.50 -2.03
KSE(Kuwait) 6,446.80 -0.07
BSE 1,160.08 -0.02
MSM 5,746.28 0.06
ADX 2,478.15 -0.12
DFM 1,515.02 -0.78
QSE 8,548.26 -0.66
Capital Market Overview

Market watch: Stock market takes a beating

The stock market took a beating after a long time on Thursday following signs that the fertiliser industry earnings will drop massively in 2012.The Karachi Stock Exchange’s (KSE) benchmark 100-share index fell 1.32 per cent or 193.40 points to end at the 14,420.19 point level. more... (ET)

NAVs and Returns
as of May 10, 2012
Funds Offer Redemption
POGSF
10.0955/-
10.0955/-
YTD Return
10.64%
POAIIF
52.0448/-
51.5244/-
YTD Return
11.31%
POAAAF
54.24/-
52.88/-
YTD Return
4.67%
POIAAF
61.62/-
60.08/-
YTD Return
14.99%
POAF
11.27/-
YTD Return
10.79%
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
39.50
3,397
232.51
11.19
27.08%
KSE30
7.71
663
161.63
9.39
23.38%
KMI30
5.39
463
118.26
6.07
22.99%
KSE All
42.16
3,626
268.85
11.48
28.76%
May 10 , 2012
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
176.71
118.08
-11.33%
OGDC
17.50
164.76
158.95
7.69%
UBL
2.00
84.75
45.42
36.89%
LUCK
1.70
130.01
38.60
83.53%
May 10, 2012
F.I.P.I.  
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
110.71
-30.97
79.74
Foreign Corporates
8,515.60
-6,719.21
1,796.39
Overseas Pakistani
1,737.67
-1,592.71
144.95
Grand Total
10,363.97
-8,342.89
2,021.08
F.I.P.I.
Foreign Investment              
Foreign Investors Portfolio Investment (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
09-May-12
10-May-12
Change
Gross Buy
373.58
11.70%
79.11
317.73%
8.38
10.36
23.63%
Gross Sell
-298.43
10.57%
-43.02
92.84%
-12.24
-8.34
-31.86%
Net Buy/(Sell)
73.48
11.27%
35.28
-1170.27%
-3.86
2.02
-152.35%
S.C.R.A
Country
During the Period FY12TD
09-05-2012
Cumulative Inflow
Cumulative Outflow
Cumulative
Net flow
Inflow
Outflow
Net Flow
Equity
T-Bill
PIBs
Equity
T-Bill
PIBs
Equity
Equity
Hong Kong
13.86
-
-
15.78
-
-
-1.92
-
-
-
Luxembourg
47.23
-
-
33.00
-
-
-21.58
-
0.90
-0.90
Switzerland
42.70
0.91
-
35.35
1.27
-
6.99
-
0.13
-0.13
UAE
7.43
0.52
-
4.23
4.46
-
-1.27
-
-
-
UK
76.62
18.13
-
146.64
0.29
3.47
-55.71
3.32
0.76
2.56
USA
175.32
-
-
270.91
-
19.06
-114.64
0.05
1.20
-1.15
Total
441.52
22.24
-
596.24
8.71
29.22
-170.98
3.94
3.78
0.16
News Clippings
Economy

Pakistan economy to grow by 4 percent in 2012

The United Nation Economic and Social Survey of Asia and Pacific (ESCAP) projected the economy of Pakistan to grow by 4 percent during the year 2012. more... (BR)

Budget forecasts: Forex reserves to almost halve by June 2013

Next year’s fiscal forecasts for Pakistan are depressing at best.The country’s forex reserves are expected to almost halve by July 2013 – from the much-touted high of $16 billion during the current government’s tenure – and import bill to surge with the country’s imports growing twice as fast as exports. more... (ET)

Trade deficit overshoots annual estimate by $5.5b

The government is expected to miss its trade target set for this fiscal year, as the trade deficit widened to $17.7 billion in 10 months, $5.5 billion higher than the annual estimate with two months still to go, due to contraction in exports and double-digit growth in imports. more... (ET)

Remittances rise over 20% to $10.88 billion

Overseas Pakistanis remitted $10.88 billion in the first ten months of the current fiscal year 2011-12; recording impressive growth of 20.23% or $1830.38 million as compared to the same period last year. more... (ET)

Company & Sector Update

Govt intends to reduce GST on petroleum products

The Senate was informed Thursday that the government intends to reduce General Sales Tax on petroleum products to provide relief to the masses and consultation is underway with the provinces in this regard. more.. (BR)

Fauji Fertilizer cuts prices to regain market

In a bid to regain the local market, Fauji Fertilizer Company (FFC) has reduced urea prices to make its fertiliser competitive against cheaper imports.The fertiliser manufacturer cut down prices by 9% to Rs1,650/bag on Thursday, bringing the difference between the local and imported fertiliser to Rs50 per bag. more... (ET)

Indus Motor for gradual cut in import duties

Rejecting the Auto Industry Development Plan-II (AIDP) for 2013-2017 proposed by the Engineering Development Board (EDB), Indus Motor Company CEO Parvez Ghias has said the current difference of 17.5% between import duties of completely built units (CBU) and completely knocked down (CKD) kits should be maintained. more... (ET)

Emirates Group announces profit

The Emirates Group on Thursday announced its 24th consecutive year of profit and company wide growth amidst unprecedented economic pressure and record high fuel prices . more... (DT)

Political

Senate body to examine devolution process

The Upper House of Parliament on Thursday approved formation of a committee to examine various steps by the government in devolution process and also look into procedural problems in this regard. more... (BR)

Gilani urges British power companies to help Pakistan meet energy shortfall

Prime Minister Syed Yousuf Raza Gilani Thursday urged the British power companies to invest in country's energy sector and help Pakistan meet its energy shortfall. more... (BR)

State visit to UK: Britain pledges ‘enduring friendship’ with Pakistan

Prime Minister Yousaf Raza Gilani arrived at 10 Downing Street on Thursday to meet with his British counterpart David Cameron and review the progress made under the Enhanced Strategic Dialogue between Pakistan and the UK. more... (ET)

Sindh chief minister meets Pir Pagara

Sindh Chief Minister Syed Qaim Ali Shah meet Pakistan Muslim League-Functional (PML-F) chief and spiritual leader of Hurs, Pir Pagara, Pir Sadruddin Shah Rashdi at the Kingri House on Thursday. Adviser to Sindh Chief Minister Imtiaz Shaikh was also present. more... (DT)

GCC

Tasweeq seeks to diversify its funding outside Europe in 2013

Qatar International Petroleum Marketing Co (Tasweeq), the state marketer of oil and gas products, will seek to diversify its funding sources to include banks outside Europe in the next year, an official said.more... (Gulf Base)

Inflation rate edges down

The Kingdom’s consumer price inflation rate edged down to 5.3 percent year-on-year in April from 5.4 percent in March. Prices rose 0.2 percent in April from a month earlier. The inflation rate was recorded at 5.4 percent in February. more... (Gulf Base)

Dnata posts highest profit of Dh808m

Dubai Dnata, Emirates Group's ground handling and ticketing arm, made its highest profit in 52 years of operation at Dh808 million last fiscal year, on the back of its proven acquisition strategy, the company said in a statement. more. (Gulf News)

Mobile revenue boosts du profit

Dubai Telecoms operator du posted a 62 per cent rise in first-quarter net profit Thursday as new subscribers joined and mobile data revenues more than doubled. more... (Gulf News)

Quote of the Day:

" The only society that works today is also one founded on mutual respect, on a recognition that we have a responsibility collectively and individually, to help each other on the basis of each other's equal worth. A selfish society is a contradiction in terms. " Tony Blair




 
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 27, 2012)
$16.43 bn
Trade Balance ( July-Mar 12)
$-17.07bn
Curr. A/C (July 11-Mar 12)
$-3.08bn
Remittances (July 11- Mar 12)
$10.88bn
Foreign Investment (Jul 11-Mar 12)
$466.50mn
All Sch. Banks Deposit Base (Apr 13, 2012)
Rs811.83bn
Inflation
CPI Gen. - YoY (Apr-12) 11.3%
   
CPI Gen. - FY12 (Jul 11- Apr 12) 10.8%
   
NFNE Core INFL - YoY (Apr 12) 10.8%
   
NFNE Core INFL -FY12(Jul 11 - Mar 12) 10.4%

Money Market

 
Price
Change
10-May-12
09-May-12
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
87.36
-0.05%
11.23%
11.21%
1.80
     
10-May-12
09-May-12
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
853.45
852.95
0.50

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
11.50
11.68
11.76
11.88
Offer
12.00
11.93
12.01
12.38

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
11.90
11.65
11.70
11.80
11.90
12.00
Low  
11.75
11.60
11.60
11.65
11.75
11.80

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
91.60
119.75
1.15
148.10
24.85
0.98
0.73

T Bill Rates (%)
3 month
6 month
12 month
Avg.
11.82
11.90
11.98
Last Cut Off.
11.87
11.94
11.94
Bond Rates (%) Cut Off
Bid
Offer
Previous
Current
5-Y PIB
13.05
13.03
12.99
13.05
10 Y-PIB
13.32
13.28
13.25
13.32

10 Yr Govt bond (%)
Japan
Germany
US
UK
Australia
India
Pakistan
Yield
0.86
1.54
1.85
1.99
3.34
8.56
13.28
Change bps
0.00
2.00
-1.00
9.00
2.00
0.10
3.00

Commodities

     
10-May-12
11-May-12
change
WTI (USD/bbl)    
96.40
95.92
-0.50%
     
Brent (USD/bbl)    
112.65
111.92
-0.65%
     
Arab Light (USD/bbl)    
111.46
111.22
-0.22%

Domestic
Current
Previous
Change
High Speed Diesel (litre)
107.00
108.16
-1.07%
Furnace Oil (Rs/ton)
81,941.24
83,022.36
-1.30%
Cement (Rs. Bag Avg)
441.63
442.38
-0.17%
Urea Fertilizer (Rs/bag)
1,798.33
1,798.75
-0.02%
Gold 24cr (Rs./10gm) Khi
47,998.63
48,598.61
-1.23%
Rice IRRI -6(Rs/100kg)
3,396.00
3,397.00
-0.03%
KCA Cotton (Rs/mound)
6,200.00
6,300.00
-1.59%
International
Current
Previous
Change
Coal Spot(USD/ton)
99.95
101.55
-1.58%
Gold Futures(USD/oz)
1,586.50
1,592.40
-0.37%
Sugar 11 (USD/lb)
20.45
20.38
0.34%
Steel (USD/ton)
680.05
685.15
-0.74%
Wheat (CBT) (USD/bu)
601.25
600.00
0.21%
PTA (USD/ton)
1,175.00
1,165.00
0.86%
Copper (USD/ton)
8,207.00
8,165.00
0.51%

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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.