BasedLine

Date: 31-May-2012
KSE-100 Index
Previous Index 14,071.85
Current Index 13,871.75
Change % -1.42%
YTD (CY12) 22.24%
YTD (FY12) 11.01%
KSE-100 Index
Previous Index 24,371.14
Current Index 24,093.60
Change % -1.14%
YTD (CY12) 19.64%
YTD (FY12) 15.08%
International Indicators
 
Close
%age
BSE-30 16,312.15 -0.77
HANGSENG 18,690.22 -1.92
NIKKEI 225 8,633.19 -0.28
FTSE 5,297.28 -1.74
DJIA 12,419.86 -1.28
SSEC 2,373.66 -0.46
NASDAQ 2,837.36 -1.17
 
Close
%age
TASI 6,975.27 -0.82
KSE(Kuwait) 6,241.42 0.54
BSE 1,137.06 -0.25
MSM 5,786.66 0.57
ADX 2,449.73 -0.23
DFM 1,470.61 -0.30
QSE 8,473.05 -0.02
Capital Market Overview

Market watch: Stocks down on macroeconomic concerns, gas cess

The Karachi stock market closed on Wednesday deep in the red, as rumours regarding the rejection of an increase in the Gas Infrastructure Development Cess proved unfounded.The Karachi Stock Exchange’s (KSE) benchmark 100-share index plunged 1.42% or 200.10 points to end at the 13,871.75 points level. more... (ET)

NAVs and Returns
as of May 30, 2012
Funds Offer Redemption
POGSF
10.1484/-
10.1484/-
YTD Return
10.56%
POAIIF
52.2777/-
51.7549/-
YTD Return
11.11%
POAAAF
52.29/-
50.98/-
YTD Return
0.91%
POIAAF
60.75/-
59.23/-
YTD Return
13.36%
POAF
11.29/-
YTD Return
10.31%
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
37.89
3,259
88.23
5.28
22.24%
KSE30
7.38
635
50.19
4.45
18.10%
KMI30
5.22
449
31.34
3.13
19.64%
KSE All
41.19
3,543
129.27
5.64
24.37%
May 30 , 2012
GDR
GDR Closing
GDR (USD)
KSE(Rs)
LSE(Rs)
YTD Chg.
MCB
2.60
167.63
120.84
-15.89%
OGDC
17.50
158.09
162.66
3.33%
UBL
1.80
75.32
41.83
21.66%
LUCK
1.70
126.38
39.50
78.40%
May 30, 2012
F.I.P.I.  
(USD 000)
Buy Value
Sell Value
Net Value
Foreign Individiual
29.01
-10.52
18.49
Foreign Corporates
4,400.33
-1,341.71
3,058.62
Overseas Pakistani
393.62
-400.95
-7.33
Grand Total
4,822.96
-1,753.17
3,069.78
F.I.P.I.
Foreign Investment              
Foreign Investors Portfolio Investment (FIPI USD mn)
CYTD
YoY Chg
MTD
Mom Chg.
29-May-12
30-May-12
Change
Gross Buy
442.63
24.19%
148.15
51.20%
5.62
4.82
-14.12%
Gross Sell
-360.07
25.98%
-104.66
38.78%
-13.86
-1.75
-87.35%
Net Buy/(Sell)
80.72
11.73%
42.53
92.74%
-8.24
3.07
-137.25%
S.C.R.A
Country
During the Period FY12TD
29-05-2012
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
-
-
17.33
-
-
-3.21
-
0.13
-0.13
Luxembourg
49.13
-
-
33.00
-
-
-22.31
0.17
0.02
0.16
Switzerland
42.83
1.00
-
40.98
1.27
-
1.58
-
-
-
UAE
7.57
0.52
-
4.78
4.46
-
-1.68
-
-
-
UK
98.68
18.13
-
168.45
0.29
3.47
-55.47
0.98
1.54
-0.56
USA
180.54
-
-
303.40
-
19.06
-141.91
0.05
3.63
-3.59
Total
491.87
22.33
-
663.01
8.71
29.22
-187.31
2.99
5.35
-2.36
News Clippings
Economy

Govt envisages economic growth framework

The government has envisaged "Framework for Economic Growth", to achieve 5-9 per cent growth in short-medium-term and 7-8 per cent in long term. The high growth rate to be achieved by reforming the public sector enterprises (PSEs). more... (TFD)

Sovereign default: IPPs to serve fresh notices to govt for outstanding dues

Sovereign default: IPPs to serve fresh notices to govt for outstanding dues Eight Independent Power Producers (IPPs) are currently producing only 700MW; as the Ministry of Water and Power is sitting on Rs18 billion provided by the Ministry of Finance for a partial payment against a sovereign default of over Rs50 billion. more... (ET)

Inflation rate for 44 commodities at 9pc in April

The rate of inflation for 44 commodities including wheat, rice, pulses, meat, kitchen fuel and poultry products stood at nine percent in April 2012.This is a comparatively smaller increase than the 15 percent inflation rate in the same month last year. more... (DT)

Subsidies for most sectors likely to be reduced

The economic mangers have decided to cut down subsidies in the next budget on a majority of sectors in a bid to reduce budgetary constraints. However, subsidy to the power sector has been proposed to be raised. more... (D)

Company & Sector Update

Hubco settles tax dispute once and for all

Hub Power Company (HUBCO) has decided to end a standoff – which included freezing of its bank accounts – with the tax authority on Wednesday by paying off tax liability amounting to Rs1.65 billion. more.. (ET)

OGRA proposes cut in petroleum products’ prices

The Oil and Gas Regulatory Authority (OGRA) proposed massive decrease in the prices of petroleum, oil and lubricant (POL) products up to Rs 13.24 per litre for the month of June 2012. more... (Dt)

‘Auto sector can generate additional revenue of Rs 15 billion’

Extending the tax net to traders and importers of auto spare parts, the federal government can increase revenue collection by hefty amount of Rs 15 billion even without curbing the smuggling of same, sources in the industry said. more... (DT)

Higher budgetary allocations demanded for textile sector

Pakistan Ready-made Garments Manufacturers and Exporters Association (PRGMEA) on Wednesday termed the budgetary allocation of Rs 42 billion by the Ministry of Textile Industry for the next fiscal year 2012-13 as meager. more... (DT)

Political

Concealing Facts?: ‘Malik still enjoying British citizenship’

Interior Minister Rehman Malik has been attempting to conceal the fact that he still enjoys British citizenship, sources familiar with the matter revealed on Wednesday. more... (ET)

Top Pentagon official returning to lead talks with Pakistan

US Assistant Defence Secretary Peter Levoy is returning to Islamabad next week to lead the American team which is negotiating a resolution to the Nato routes dispute with Pakistan, diplomatic sources told Dawn. more... (D)

Budget presentation: PML-N anticipates face-off with PM

It’s an opportunity to finally face the premier in parliament after his conviction – and Pakistan Muslim League-Nawaz (PML-N) is waiting in anticipation. more... (ET)

Govt should cut defence expenditures, says Farooq Sattar

Federal Minister for Overseas Pakistanis Dr Farooq Sattar has said that the government would have to cut defence expenditures in the budget for the welfare of the people. more... (DT)

GCC

.No ceiling on credit card interest rates: UAE Central Bank

The UAE Central Bank has put an end to widespread speculation on imminent plans to set a ceiling on credit card interest rates, saying there is no such plan on the grounds these cards carry big risks to banks. more... (Zawya)

Danube plans SR300 million investment in Saudi operations

Danube, a regional leader in construction, building materials and shop fitting industries, has announced plans to invest SR300 million into its Saudi operations in the coming years. more... (Zawya)

Iraq wraps up energy auction after slow first day

Iraq will hold the second and final day of an auction for a dozen oil and gas exploration blocks on Thursday, after hopes for the sale were dampened when just one deal was made on the first day. more. (Zawya)

Emirates to expand multi-aircraft docking facility in Dubai

Emirates airline has signed a contract with local UAE firm Excel, based in Ajman, supported by Gunzburger Steigtechnik of Germany, to develop an additional multi-aircraft docking system in their Dubai engineering facility. more... (Gulf Base)

Quote of the Day:

"The majority see the obstacles; the few see the objectives; history records the successes of the latter, while oblivion is the reward of the former." Alfred Armand Montapert




 
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 (May 18, 2012)
Rs810.63bn
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
30-May-12
29-May-12
bps
Pakistan Euro Bond Price Yield (Maturity 2016)
86.58
0.12%
11.55%
11.59%
-3.30
     
30-May-12
29-May-12
bps
Pakistan Credit Default Swap (CDS 5 year) (USD)    
945.31
959.80
-14.49

KIBOR Rates (%)
1 month
3 month
6 month
1 Year
Bid
11.54
11.70
11.77
11.88
Offer
12.04
11.95
12.02
12.38

Inter Bank Money Market Rates (Last closing ) (%)
Overnight
1 Week
1-Month
3-Month
6-Month
1-Year
High  
11.75
11.65
11.70
11.80
11.90
12.00
Low  
11.25
11.55
11.60
11.70
11.75
11.80

Key Fx Rates
PKR/USD
PKR/EURO
PKR/JPY
PKR/GBP
PKR/AED
EURIBOR
LIBOR
Closing
93.90
118.10
1.17
147.00
25.65
0.97
0.74

T Bill Rates (%)
3 month
6 month
12 month
Avg.
11.84
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
13.01
13.05
10 Y-PIB
13.32
13.28
13.26
13.32

10 Yr Govt bond (%)
Japan
Germany
US
UK
Australia
India
Pakistan
Yield
0.85
1.36
1.72
1.78
3.08
8.52
13.28
Change bps
-1.00
0.00
-3.00
2.00
-6.00
0.60
2.00

Commodities

     
30-May-12
30-May-12
change
WTI (USD/bbl)    
90.44
87.57
-3.17%
     
Brent (USD/bbl)    
106.42
103.17
-3.05%
     
Arab Light (USD/bbl)    
106.43
102.68
-3.52%

Domestic
Current
Previous
Change
High Speed Diesel (litre)
107.00
108.16
-1.07%
Furnace Oil (Rs/ton)
79,333.56
81,941.24
-3.18%
Cement (Rs. Bag Avg)
441.75
440.50
0.28%
Urea Fertilizer (Rs/bag)
1,693.33
1,730.83
-2.17%
Gold 24cr (Rs./10gm) Khi
47,485.00
47,614.0
-0.27%
Rice IRRI -6(Rs/100kg)
3,395.00
3,398.00
-0.09%
KCA Cotton (Rs/mound)
5,700.00
5,800.00
-1.72%
International
Current
Previous
Change
Coal Spot(USD/ton)
91.85
96.95
-5.26%
Gold Futures(USD/oz)
1,561.70
1,549.50
0.79%
Sugar 11 (USD/lb)
19.53
19.53
-0.46%
Steel (USD/ton)
655.79
656.08
-0.04%
Wheat (CBT) (USD/bu)
656.75
680.00
-3.42%
PTA (USD/ton)
1,105.00
1,145.00
-3.49%
Copper (USD/ton)
7,680.00
7,712.00
-0.42%

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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.