BasedLine

Date: 24-May-2012
KSE-100 Index
Previous Index 14,142.08
Current Index 14,032.82
Change % -0.77%
YTD (CY12) 23.66%
YTD (FY12) 12.30%
KSE-100 Index
Previous Index 24,357.81
Current Index 24,209.30
Change % -0.61%
YTD (CY12) 20.22%
YTD (FY12) 15.63%
International Indicators
 
Close
%age
BSE-30 15,948.10 -0.49
HANGSENG 19,786.19 -1.33
NIKKEI 225 8,556.60 -1.98
FTSE 5,266.41 -2.53
DJIA 12,496.15 -0.05
SSEC 2,356.05 -0.31
NASDAQ 2,850.12 0.39
 
Close
%age
TASI 7,061.43 -0.59
KSE(Kuwait) 6,366.95 -0.22
BSE 1,137.65 -0.06
MSM 5,721.27 -0.51
ADX 2,475.52 0.18
DFM 1,480.10 -1.10
QSE 8,467.42 -0.37
Capital Market Overview

Market watch: Bourse plummets as violence grips city

The stock market fell on Wednesday as violence and strike calls crippled the financial capital for the second consecutive day.The Karachi Stock Exchange’s (KSE) benchmark 100-share index declined 0.77 per cent or 109.26 points to end at the 14,032.82 point level. more... (ET)

NAVs and Returns
as of May 23, 2012
Funds Offer Redemption
POGSF
10.1307/-
10.1307/-
YTD Return
10.60%
POAIIF
52.1969/-
51.6749/-
YTD Return
11.18%
POAAAF
52.75/-
51.43/-
YTD Return
1.80%
POIAAF
60.29/-
58.78/-
YTD Return
11.10%
POAF
11.30/-
YTD Return
10.66%
Funds Rating
AMC
AM3
POAIIF
A+ (f)
POAF
AA-
POAAAF
3 Star
POIAAF
5 Star
  Apr-12 Mar-12
MoM (%)
AUM's (PKR bn) 384.32 330.78 16.18
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
38.37
3,300
138.76
5.46
23.66%
KSE30
7.48
644
86.42
4.45
19.73%
KMI30
5.24
451
49.14
2.42
20.22%
KSE All
41.41
3,562
175.62
5.76
25.54%
May 23 , 2012
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
172.59
119.63
-13.40%
OGDC
17.50
161.11
161.04
5.31%
UBL
2.00
77.48
41.41
25.15%
LUCK
1.70
125.75
39.11
77.51%
May 23, 2012
F.I.P.I.  
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
18.90
-308.03
-289.13
Foreign Corporates
3,065.47
-2,091.07
974.41
Overseas Pakistani
501.14
-387.62
113.51
Grand Total
3,585.51
-2,786.71
798.80
F.I.P.I.
Foreign Investment              
Foreign Investors Portfolio Investment (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
22-May-12
23-May-12
Change
Gross Buy
408.80
17.55%
114.33
85.28%
3.43
3.59
4.67%
Gross Sell
-336.27
20.61%
-80.87
54.85%
-2.37
-2.79
-17.53%
Net Buy/(Sell)
70.91
0.50%
32.72
252.82%
1.05
0.80
-24.25%
S.C.R.A
Country
During the Period FY12TD
21-05-2012
Cumulative Inflow
Cumulative Outflow
Cumulative
Net flow
Inflow
Outflow
Net Flow
Equity
T-Bill
PIBs
Equity
T-Bill
PIBs
Equity
Equity
Hong Kong
14.12
-
-
17.19
-
-
-3.07
-
0.58
-0.58
Luxembourg
48.17
-
-
33.00
-
-
-22.85
0.11
-
0.11
Switzerland
42.71
1.00
-
40.96
1.27
-
1.47
-
-
-
UAE
7.55
0.52
-
4.78
4.46
-
-1.70
0.08
-
0.08
UK
91.93
18.13
-
161.85
0.29
3.47
-55.61
0.24
2.45
-2.21
USA
179.36
-
-
296.54
-
19.06
-136.23
1.08
1.57
-0.49
Total
472.81
22.33
-
648.74
8.71
29.22
-192.10
1.57
4.65
-3.08
News Clippings
Economy

TAPI pipeline: Indian and Pakistani firms sign gas purchase contract

State-owned energy companies from Pakistan and India have signed a ‘Gas Sales and Purchase Agreement’ with Turkmenistan’s national oil company Turkmengaz that will lead to the supply of up to 90 million cubic metres of natural gas a day (mcmd) via the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline. more... (ET)

Rupee sinks to new low for second straight day

The Pakistani rupee closed at 91.97/92.02 to the dollar in inter-bank trading on Wednesday, down from Tuesday’s close of 91.65/70 due to higher oil payments, dealers said. more... (ET)

Govt plans income tax relief in budget

In what appears to be an attempt to woo voters, the government has decided in principle to raise the income tax exemption limit and reduce the number of slabs for salaried and non-salaried taxpayers in the budget for 2012-13, sources say. more... (D)

Fiscal deficit surges to Rs1.286tr

Country’s total fiscal deficit in the first nine months of the current fiscal year (July 2011-March 2012) surged to Rs1.286 trillion, about 66 per cent higher than the budgetary limit of Rs849 billion, according to data released by the ministry of finance. more... (D)

Company & Sector Update

KESC launches Rs 2bn AZM TFCs

Karachi Electric Supply Company (KESC) has launched the public offering of Pakistan’s first-ever utility sector retail bond issue, ‘KESC AZM TFC’. This issue is listed, secured and rated, offered in multiple tenors having a total face value of Rs 2 billion and is available for subscription to the public for a three month period, starting from May 25, 2012 until August 24, 2012. more.. (DT)

PSO shifts focus towards local refiners

The Pakistan State Oil (PSO) has planned to increase the purchase of petroleum products from imported suppliers to local refineries as part of its future strategy. more... (DT)

No relief from government in four years: 130 percent hike in power tariff adds to woes of consumers

At least 130 percent increase in power tariff during the last four years and unscheduled loadshedding due to a widening gap between electricity generation and demand have added to the miseries of consumers. more... (BR)

PSDP for 2012-13 likely to be set at Rs 863bn

The National Economic Council (NEC) in its meeting today (Thursday) is likely to approve Rs 863 billion Public Sector Development Programme (PSDP) 2012-13 against last year’s allocation of Rs 730 billion, showing 18 percent increase. more... (DT)

Political

Nawaz blasts PPP govt’s policies

PML-N chief Mian Nawaz Sharif has criticised the PPP-led government for what he says the manner in which it is seeking an apology from the US over the Salala air strikes which left 24 Pakistani soldiers dead last year. more... (D)

DPC postpones long march against resumption of Nato supplies

Difa-i-Pakistan Council (DPC), an alliance of religious and political parties, has announced to postpone its long march scheduled from May 27 against reopening of the Nato supply routes to Afghanistan. more... (D)

Contempt case strategy: After huddle with Aitzaz, Premier Gilani approves draft appeal

Despite discord over whether the government should aim for an appeal or use the National Assembly speaker’s office as a strategy, Prime Minister Yousaf Raza Gilani has given his approval to a draft of the appeal prepared by his defence team. more... (ET)

US senators say Pakistan on path of confrontation

US lawmakers warned on Wednesday that Pakistan was moving rapidly on a path leading to a direct confrontation with the world’s sole superpower as Pakistan convicted and sentenced a man considered a hero in America. more... (D)

GCC

Donors pledge $4 bln aid to Yemen, bulk of it Saudi

Donors, with Saudi Arabia in the lead, pledged $4 billion (3.2 billion euros) in aid to impoverished Yemen on Wednesday as it grapples with a fragile political transition and struggles to contain a growing threat by Al-Qaeda. more... (Zawya)

S. Korea firm to sign $7.75 bn deal on Iraqi homes

Hanwha Group said Thursday it would soon sign a $7.75 billion contract to build 100,000 homes in a Baghdad suburb, in what it called the largest-ever overseas construction deal for a South Korean company. more... (Zawya)

Sanctions cost Syria almost $4 billion: oil minister

Western sanctions on Syria for its deadly crackdown on dissent have cost the country almost $4 billion and caused shortages in fuel products, Oil Minister Sufian Allaw said on Wednesday. more. (Zawya)

Bahrain Expects More Than $20 Billion in Energy Investments

Bahrain 's energy sector is posed for significant growth over the next several years, the country's Energy Minister Dr. Abdulhussain Mirza said. "Although being one of the smaller countries in the region, Bahrain, in its own right, will attract about $20 billion over the next 15 years," he said. more... (Zawya)

Quote of the Day:

" In all realms of life it takes courage to stretch your limits, express your power, and fulfill your potential.. it's no different in the financial realm." Suze Orman



 
Economic Highlights
Economic Indicators
GDP Growth FY12E
3.60%
GDP -2011
$180 bn
Per Capita Income FY11
$1,254
Population
178.09mn
US$ Reserves (May 11, 2012)
$16.41 bn
Trade Balance ( July-Apr 12)
$-17.65bn
Curr. A/C (July 11-Apr 12)
$-3.39bn
Remittances (July 11- Apr 12)
$10.88bn
Foreign Investment (Jul 11-Apr 12)
$563mn
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 - Apr 12) 10.4%

Money Market

 
Price
Change
23-May-12
23-May-12
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
86.52
-0.22%
11.57%
11.49%
8.00
     
23-May-12
23-May-12
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
0.00
934.12
-934.12

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
11.44
11.68
11.75
11.87
Offer
11.94
11.93
12.00
12.37

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
9.15
11.10
11.65
11.80
11.90
12.00
Low  
9.10
10.90
11.50
11.70
11.75
11.80

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
93.3
118.50
1.16
146.70
25.55
0.97
0.74

T Bill Rates (%)
3 month
6 month
12 month
Avg.
11.80
11.90
11.95
Last Cut Off.
11.87
11.94
11.95
Bond Rates (%) Cut Off
Bid
Offer
Previous
Current
5-Y PIB
13.04
13.01
12.99
13.05
10 Y-PIB
13.28
13.27
13.23
13.32

10 Yr Govt bond (%)
Japan
Germany
US
UK
Australia
India
Pakistan
Yield
0.86
1.38
1.75
1.77
3.14
8.51
13.27
Change bps
-1.00
-9.00
-1.00
-10.00
0.00
-1.10
4.00

Commodities

     
23-May-12
24-May-12
change
WTI (USD/bbl)    
91.29
90.52
-0.84%
     
Brent (USD/bbl)    
107.95
105.97
-1.83%
     
Arab Light (USD/bbl)    
107.86
105.16
-2.50%

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)
440.50
442.63
-0.48%
Urea Fertilizer (Rs/bag)
1,730.83
1,795.33
-3.57%
Gold 24cr (Rs./10gm) Khi
47,047.23
47,017.23
0.06%
Rice IRRI -6(Rs/100kg)
3,428.00
3,457.00
-0.84%
KCA Cotton (Rs/mound)
6,000.00
6,000.00
-1.64%
International
Current
Previous
Change
Coal Spot(USD/ton)
96.95
98.35
-1.42%
Gold Futures(USD/oz)
1,560.00
1,559.30
0.04%
Sugar 11 (USD/lb)
19.51
19.80
-1.46%
Steel (USD/ton)
666.15
667.96
-0.27%
Wheat (CBT) (USD/bu)
704.00
695.25
1.26%
PTA (USD/ton)
1,105.00
1,145.00
-3.49%
Copper (USD/ton)
7,790.00
7,702.00
1.14%

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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.