International Karachi, Saturday, March 5, 2011, Rabi-ul-Awwal 29, Price Rs12 Pages 12
Singh says let's comb out the Kashmir tangles See on Page 12
Foreign Debt (Dec 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Dec 10) LSM Growth (Dec 10)
GDP Growth FY10E Per Capita Income FY10 Population
$17.50bn 14.55% $13.23bn $22.55bn $(9.32)bn $(81)mn $6.12bn $1.18bn Rs 765bn $58.39bn Rs 5497.4bn $338.2mn -1.57% 4.10% $1,051 175.35mn
199.52 3.58 1.84 2987
Total Portfolio Invest (19-Feb-2011)
NCCPL (U.S $ in million)
FIPI (04-Mar-2011) Local Companies (04-Mar-2011) Banks / DFI (04-Mar-2011) Mutual Funds (04-Mar-2011) NBFC (04-Mar-2011) Local Investors (04-Mar-2011) Other Organization (04-Mar-2011)
4.84 -0.32 -5.71 -1.65 0.18 3.10 -0.44
Global Indices Index Close KSE 100 12,000.03 Nikkei 225 10,693.66 Hang Seng 23,408.86 Sensex 30 18,486.45 ADX 2,529.82 SSE COMP. 2,942.31 FTSE 100 5,984.98 *Dow Jones 12,203.56 *Last Updated 20:00 PST
Change 238.03 107.64 286.44 3.31 2.42 39.33 20.11 54.64
GDR update $.Price PKR/Shares 2.60 111.09 15.86 135.53 2.00 42.73 1.70 36.32 11.63 39.75
Money Market Update 23-Feb-2011 23-Feb-2011 23-Feb-2011 29-Nov-2010 04-Mar-2011 04-Mar-2011 04-Mar-2011 04-Mar-2011 04-Mar-2011 04-Mar-2011 04-Mar-2011 04-Mar-2011 04-Mar-2011 04-Mar-2011 04-Mar-2011
13.49% 13.69% 13.86% 14.00% 13.34% 13.60% 13.76% 14.14% 14.26% 14.18% 14.20% 14.19% 14.56% 14.77% 14.97%
Commodities *Crude Oil (brent)$/bbl 115.79 *Crude Oil (WTI)$/bbl 103.56 *Cotton $/lb 212.70 *Gold $/ozs 1,430.00 *Silver $/ozs 35.24 Malaysian Palm $ 1,207 GOLD (NCEL) PKR 39,022 KHI Cotton 40Kg PKR 12,860 *Last Updated 20:00 PST Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 86.40 Canadian $ 87.25 Danish Krone 15.70 Euro 118.10 Hong Kong $ 10.50 Japanese Yen 1.031 Saudi Riyal 22.80 Singapore $ 67.10 Swedish Korona 13.20 Swiss Franc 91.80 U.A.E Dirham 23.30 UK Pound 139.00 US $ 85.45
87.40 88.25 15.90 119.60 11.00 1.057 23.00 68.10 13.40 93.00 23.50 140.40 85.75
Inter-Bank Currency Rates Symbols
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
86.51 87.79 15.98 119.18 10.96 1.044 22.77 67.35 13.53 91.59 23.25 139.01 85.45
86.72 88.00 16.02 119.46 10.99 1.046 22.82 67.51 13.56 91.80 23.31 139.34 85.64
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
19°C 29°C 22°C 19°C 15°C 18°C
See on Page 12
Malik, Sherry, Fouzia on top of TTP hit list, NA told
SCRA(U.S $ in million)
Yearly(Jul, 2010 up to 3-Mar-2011) Monthly(Mar, 2011 up to 03-Mar-2011) Daily (3-Mar-2011)
T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
See on Page 12
We’d see Afghans through, says Hina
I’ll go, if lapse proved: Malik
Portfolio Investment
Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
See on Page 12
Tripoli mosques launch protesters
Dasti seeks Malik’s resignation over security lapse
Economic Indicators Forex Reserves (26-Feb-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Jan 11) Imports (Jul 10-Jan 11) Trade Balance (Jul 10-Jan 11) Current A/C (Jul 10- Jan 11) Remittances (Jul 10 - Jan 11) Foreign Invest (Jul 10-Jan 11) Revenue (Jul 10 Jan 11)
Won’t let investors in B'stan down: PM
MIN
8°C 17°C 10°C 9°C 11°C 9°C
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ISLAMABAD: PM Syed Yousuf Raza Gilani talking to officials during the funeral prayers for Shahbaz Bhatti at Fatima Church.-Online
Govt hurts reforms to make MQM happy
All Pakistanis have equal rights
Budget deficit may go thru IMF ceiling
Altaf says only MQM struggling to save Pakistan
Shaikh forecasts more burden on govt ISLAMABAD/KARACHI: The fragile coalition government was forced to compromise with a key partner over a fuel price hike on Friday, a move likely to ensure, for now, political stability at the cost of vital economic reforms. Analysts say economically torn country is likely to overshoot a revised budget deficit target of 4.7 per cent agreed with the IMF. The decision to reduce to almost 5 per cent a 9.9 per cent increase in fuel prices announced this week is likely to disappoint the International Monetary Fund (IMF), which has said Pakistan must raise taxes and end subsidies if it wants to continue receiving an economic bailout package. But the reduction appears to
have mollified the Muttahida Quami Movement (MQM), the third-biggest party in the ruling coalition which quit the government in protest over the last fuel price increase in January. It rejoined after the government caved in and reversed that rise. "By reducing the recent fuel price rise by 50 per cent on the demand of the MQM, the government has given a big relief to the people," MQM chief Altaf Hussain said in a statement. The party had given the government three days to scrap the increase that was announced on March 1. Implementing financial reforms is a condition for the IMF to disburse an $11 billion See # 5 Page 11
Ogra issues notification
POL price hike decreased 50pc ISLAMABAD: After the successful negotiations between Pakistan Peoples Party and MQM, Oil and Gas Regulatory Authority has notified a 50 per cent decrease in the levy on petroleum prices. As per notification, the downward revision in prices would take effect from March 5. The new price of petrol would be Rs76.58 instead of Rs80.19 as the government previously increased it by Rs7.23 but after reduction it now stands at Rs 3.61 per liter. The new price of high speed diesel would be Rs82.21 instead of Rs86.09 as Rs3.88
has been reduced from the original increase of Rs7.76. Similarly light diesel will be available in the open market at Rs69.91 instead of (old price) Rs73.21, as it would go down by Rs 3.30. Likewise the cost of HOBC would also fall from Rs95.25 to Rs90.96 with a deduction of Rs4.29 from an increase of Rs8.58. The new price of kerosene oil would be Rs74.45 rather than (old price) Rs77.95 after a cut of Rs3.50 in the original hike of Rs7.00. It is pertinent to mention here the cost of petroleum products See # 12 Page 11
Shaikh briefs Zardari on economy
Private sector seen as growth engine ISLAMABAD: Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh said Friday that reliance on the private and business sectors should be adopted as growth strategy to ensure sustainable economic growth in the country. "The private sector functioning has produced good results," he said while delivering a lecture on "Economy of Pakistan: Challenges and Prospects," at National Defence University adding the private sector needed to be brought forward to sustain growth. He said that there was a need
to come out of the strategy where domination of state apparatus is present everywhere which, he said, blocks genuine forces to utilise their potential and abilities for economic development. Shaikh said that the government should be responsible for policy making while the private sector should be facilitated and provided an atmosphere conducive to businesses and companies operations. The privatisation of banks and telecommunication sector has shown the results in the form of improvement in the See # 8 Page 11
KARACHI: Muttahida Qaumi Movement (MQM) Quaid Altaf Hussain has said that I want to know what is the meaning of blasphemy. Addressing the Muttahida Qaumi Movement (MQM)'s Defence Clifton Residence Committee (DCRC) here on Friday, Altaf Hussain said that intolerance and extremism are hurting the image of Pakistan and Islam. MQM Quaid added that it was MQM which for the first time sounded alarm on the rising Talibanisation in Karachi. Altaf Hussain was of the view that MQM is the only political party which is practically struggling to save Pakistan and it is the only ray of hope. Altaf directed MQM workers and office-bearers to continue to work indefatigably for the message of the party and never be See # 13 Page 11
Pallbearers hand over Bhatti to his grave
ISLAMABAD: Interior Minister Rehman Malik Friday said he himself is on top of the hitlist of Tehrik-e-Taliban Pakistan (TTP) while Sherry Rehman and Fouzia Wahab are at number two and three respectively. "I am at number one, Sherry at two and Fouzia Wahab at three. Next time you may not find me here," he said while winding up debate in National Assembly on assassination of Minister for Minorities Affairs Shahbaz Bhatti. The minister categorically mentioned that he never said Bhatti was responsible for his own assassination, however, the slain minister should have availed the security he was being offered by the government. He said "there wasn't any security lapse on behalf of the government or the police. If the investigation teams find any security lapse I would resign from the Ministry, he added.
Malik said that there weren't any security lapses in the tragic event as had been voiced by different quarters. "I would resign if any security lapse is found on part of the government or police," he added. The Minister said 15 to 16 security personnel both from police and FC were assigned to guard Shahbaz Bhatti, but he himself chose not to avail the security while visiting his mother, who lives a few yards away from his official residence. Malik said Bhatti had shared with him the threats he was receiving in different ways including letters and phone calls. “We were in touch”, the minister said and added that it had already been decided to provide Bhatti a “Box Security”. Malik said President Asif Ali Zardari called the Prime Minister and him (Malik) especially and issued directives to provide foolproof security to
Fed directed to issue extension notification
SC blesses Addl Judges with 1yr ISLAMABAD: The Supreme Court on Friday while setting aside Parliamentary Committee' recommendations for rejection of one-year extension to six Additional Judges of the Lahore High Court and the Sindh High Court, directed the Federation to issue a notification in this regard. A four-Judge bench comprising Justice Mahmmod Akhtar Shahid Siddiqui, Justice Jawwad S. Khawja, Justice
Khilji Arif Hussain and Justice Tariq Parvez announced its finding after conclusion of arguments of parties concerned. The Federation was also directed to issue notification endorsing one year further extension to these Judges as recommended by the Judicial Commission in its last month meeting. The additional Judges of the See # 4 Page 11
Bhatti. He said the government was facing financial challenges, despite that the process to provide bulletproof vehicle to Bhatti was underway. Meanwhile, he said, the President had requested one of his friend to provide Bhatti a bulletproof vehicle and it was provided too but the slain minister refused to take it saying he wanted a new one. Earlier, Pakistan People's Party (PPP) MNA Jamshed Dasti Friday demanded the resignation of Interior Minister Rehman Malik following the murder of Federal Minorities Minister Shahbaz Bhatti. Taking part in a debate at the National Assembly on Bhatti's assassination, Dasti said Interior Minister should be replaced with any political figure. PML-N's Hanif Abbasi said the Interior Minister should See # 3 Page 11
Nowshehra bombing takes 10 lives NOWSHEHRA: A powerful blast at the shrine of Akhund Panji Baba left at least 10 people dead and over 28 injured in Akbarpura District Nowshehra. The blast took place at a time when distribution charity and 'langar' was going on after Friday prayer in the mosque of the shrine. Police sources confirmed the blast in Akbarpura, Nowshehra, See # 9 Page 11
ISLAMABAD: Slain federal minister for minorities affairs Shahbaz Bhatti, assassinated on Wednesday in the Federal Capital, was laid to rest in his native village Khushpur near Smundari on Friday. Before burial in his native village, Bhatti's last rites were performed in Islamabad’s main church. Prime Minister Syed Yousuf Raza Gilani, Information Minister Firdaus Ashiq Awan, Interior Minister Rehman Malik, parliamentarians, important government officials and foreign diplomats including US ambassador Cameron Munter, friends and family members attended his funeral. Speaking on the occasion, See # 6 Page 11
Saleem Baig named PIO Ministry of Information Special Correspondent ISLAMABAD: Mohammad Saleem Baig has been appointed as the new Principal Information Officer at the Ministry Of Information, it is learnt. Previously he had been working as the Deputy Director General at the same ministry.
Look out for the March issue
2
Saturday, March 05, 2011
Int'l steel mills inaugurated Plans to raise Rs3bn through public offerings
KARACHI: A CNG Station seen closed at Nagan Chourangi during a strike called by traders, transporters, religious and political parties against the upsurge in the prices of petroleum products due to which major business activity and transport service remained suspended.-Online
BoI-STX MoU for energy generation ISLAMABAD: Saleem H. Mandviwalla, Chairman, Board of Investment, signed the MoU with STX of South Korea for collaboration in infrastructure and energy sectors. On the occasion he said that as a result of such developments both the parties would exchange the information on Investment policies and
To assist businessmen
Police cell set up at Federation House KARACHI: The Capital City Police Karachi has set up an Emergency Police Cell at Federation House, Clifton with a DSP as liaison officer for Business Community here Friday. This was informed to Sindh Home Minister, Dr. Zulfiqar Ali Mirza, in a report prepared by Consultant on Home Affairs, Sharfuddin Memon who will coordinate with the business community with regard to strategy aimed at curbing crime in the business and trade areas. Mirza had directed Sharfuddin Memon to coordinate with the business community with regard to strategy to curb crime in the business and trade area. Memon also referred to the letter issued by Capital City Police officer (CCPO) in which DSP Muhammad Azam Khan Durrani has been transferred and posted at Emergency Police Cell at Federation House, with immediate effect. The said Police Officer would be responsible for keeping close liaison with the business community and help redress their problems related to crimes, the report added.-APP
TV PROGRAMMES SATURDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere Maya Kay Sath 11:10 Tafteesh (Rpt) 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz (Rpt) 15:00 News 16:10 Faisla Aap Ka (Rpt) 17:30 Samaa Metro 18:00 News 18:30 Aap Ki Baat 19:00 News 19:05 Mutasareen 19:30 Taxi News 20:05 Tafteesh 21:00 News 22:03 Faisla Aap Ka 23:00 News 23:03 Awam Ki Awaz (Rpt)
projects, regular sharing of information on investment and related areas, research and development, exchange of executives for a strong interaction and organising and conduct of investment seminars and conferences in the two countries. About a meeting with Korea Southern Power Co Ltd (KOSPO), Chairman Board of
Investment told that MoU was recently signed with KOSPO for collaboration including a 2 Giga Watt mega wind power project in the area of Sindh. During the visit, Chairman also met other Korean conglomerates such as SAMBU construction which is engaged in constructing the Lowari tunnel Online
Mohsin Khalid appointed new IESCO chief ISLAMABAD: President of Islamabad Chamber of Commerce Industry (ICCI) while chairing a meeting of the Energy Committee of ICCI said that it was a pride for business community that a very young and talented businessman Mohsin Khalid has been appointed by the Prime Minister as the Chairman of Islamabad Electric Supply Company Ltd. (IESCO). The government has taken a right decision in nominating an enterprising person as the Board's Chief, said Mahfooz Elahi,. He was of the view that educated young generation should be given the opportunity to come forward and perform, because they are the future leaders and possess great potential to bring the country out of trouble
waters. President hoped that new Chief would help in transforming IESCO in a more proficient organization, as he holds a rich experience and represented Pakistan at a number of important national and international forums. Mohsin Khalid, being the former President of Islamabad Chamber of Commerce and Industry had also performed tremendously and gave a new vision to the Chamber, said Elahi. In the era of fast development, Pakistan should pace up itself in line with the world changing requirements giving opportunities to young generation. He said that youth of Pakistan possess great capabilities and talent that must be used to taking Pakistan at a higher level.- NNI
KARACHI: A Shehri delegation met with members of the Sindh Assembly in Karachi Friday to express their concern over the proposed 'Protection and Prohibition of Amenity Plots Bill 2009' that will allow the government to convert the city's open spaces into other use. Photo shows, Amber Alibhai and Nazim F Haji in conversation with legislators, Nusrat Seher Abbasi, Shehryar Khan Mahar and Chetal Das. Also present were Shehri members Noorudin Ahmed and Sameer Hamid Dodhy.-Staff photo
KARACHI: International Steels Limited (ISL) plans to raise as much as three billion rupees through public offering. It was disclosed here on Friday at ISL's inauguration ceremony by the Managing Director, Towfiq Habib Chinoy. Earlier, the Rs. 8.7 billion steel mill was inaugurated by Mrs. Almas Chinoy, wife of the late Amir Chinoy who was the founding Managing Director of International Industries Limited The inauguration ceremony was also attended by Kazuhisa Togashi, Senior Managing Director of Sumitomo Corporation, Takashi Okabe, Executive Assistant and General Manager JFE Steel Japan, Kluas Grimm, Senior Specialist at SMS-Siemag and representatives from the International Finance Corporation (IFC). International Finance Corporation and Sumitomo Corporation of Japan have already invested in ISL underlining the strategic importance of ISL in the steel industry. Further, ISL
will benefit from Sumitomo's participation by getting expertise in the areas of maintaining highest quality standards, cost management, inventory procurement and resource management. International Industries Limited (IIL), the sponsor of ISL, is a premium producer of steel tubing and galvanized pipes in the country. Pakistan Cables is part of the group which is a prominent manufacturer of cables and wires. ISL is the most recent addition to the family and has been established to engage in the business of manufacturing Cold Rolled Coils (CRC) and Hot Dipped Galvanized Coils (HDGC). The facility spread over an area of 32 acres in Landhi, Karachi is equipped with state-of-theart technology to manufacture CRC and HDGC. The Company has achieved Commercial Operations in January 2011. ISL is the largest private investment in the valueadded flat-rolled and coated steel industry in Pakistan.
Etihad backs up young leaders for int'l summit
‘Businessmen can pull Pakistan out of economic crisis’
TFD Report
Staff Correspondent
KARACHI: Etihad Airways is once again sponsoring young leaders from all over the world to take part in the 2011 Mosaic International Summit in Qatar. The Summit will provide a selected group of young individuals with a unique opportunity to share knowledge and experience that will support their careers and communities. Delegates from the Pakistan, Africa, East Asia and the Middle East will spend 10 days in an exciting leadership development programme, which includes world class speakers, leadership workshops and an opportunity to become members of a vibrant international network of young leaders committed to positive change. Etihad Airways employees will be among those invited to apply for the opportunity to represent the United Arab Emirates at the summit which is being held for the first time in the Middle East. James Hogan, Etihad Airways' Chief Executive Officer, said: "We are extremely proud to support these young men and women who are travelling from across the globe to be part of this once-in-a-lifetime opportunity. The knowledge and experience each of these talented individuals will gain during their journey with Mosaic will greatly benefit their companies and communities and we are delighted to be a part of it."
LAHORE: Business community has all the abilities and desire to pull the country out of economic mire but it lacks due backing from the government in shape consistency in policies. These views were expressed by the former Member National Assembly and former President of Karachi Chamber of Commerce and Industry Qaiser Ahmad Sheikh while speaking at a business gathering here on Friday. The PIAF Chairman Sohail Lashari, LCCI former President Mian Shafqat Ali, Senior Vice President Sheikh Mohammad Arshad, former Senior Vice President Tahir Javed Malik, former PIAF Chairman Irfan Qaiser Sheikh, LCCI Executive Committee members and a large number of industrialists were present on the occasion. Qaiser Ahmad Sheikh said that if the government brings transparency in its policies and Parliamentarians play their role effective nothing can stop Pakistan from attaining the status of business hub of the world. The former MNA said that the people at large were expecting that the present government would be bringing a positive change but unfortunately the rulers have broken all the previous
The project will unlock the dormant potential for developing the country's engineering and hi-tech manufacturing industries. This bold investment will create numerous jobs, both as direct employment by ISL and related job opportunities in associated support industries. Pakistan's demand for cold rolled coils is estimated at more than 500,000 tons per annum. Local production for cold rolled coil is estimated at 70,000 tons by Pakistan Steel Mills and 40,000 by IIL catering to 14% of the domestic demand. The balance requirement is currently being met through imports. Similarly demand for HDG Coils in the country during 2009-10 was estimated at 300,000 tons. Out of this, Pakistan Steel Mills supplies a meager 30,000 tons, while the balance is imported. The products manufactured by ISL will be sold to wholesalers and directly to the Industrial customers as well.-NNI
records of borrowings and these massive borrowings are one of the major reasons of fast escalating inflation in the country. He said that for arresting the decline in economy and fast increasing graph of unemployment, the government would have to come up business friendly policies. Sector-specific industrialization is the only answer to many problems being faced by the trade and industry but to achieve the goal, government would have to initiate handholding of the business community, he added. Qaiser Ahmad Sheikh, however, urged the business community to increase their interaction and liaison with the Policy makers so that they could be able to have an enabling business atmosphere in the country. He said that there are no two opinions about that in the absence of continuous supply of electricity and availability of cheaper money, both the local and foreign investments in the country would remain stagnant. He said that government has to initiate mega project like Kalabagh Dam as it is only solution to overcome the menace of load shedding. He said that Kalabagh Dam is a mega project of national interest as it could end the water shortage and could generate more than 3.5 GW cheap electricity.
Call for construction bank to ensure low cost houses KARACHI: Member Senate's Standing Committee on Housing and Works Senator Muhammad Humayun Khan Mandokhel has called for setting up of Construction Bank on the pattern of Agricultural Development Bank to ensure soft loans for small housing units. There is a big gap between demand and supply of houses in the country that needs revolutionary steps, and coordinated and serious efforts both by the public and private sectors, he said while talking to APP here. Mandokhel is also the Chairman of Senate's Standing Committee on Environment and member of Senate's Water and Power committee.
The Senator urged for effective public-private partnership to provide residential units at affordable cost to lower and middle class families. "Around 1.5 million units backlog is there. Today, housing facility is beyond reach of the common man," he remarked. He suggested that the government should provide free land for the well-planned housing schemes and allow construction of more floors to provide a maximum accommodation in such projects. The housing units should be simple and very much affordable for the lower income group people. There are many sites available for construction of low cost housing
units in the cities and towns throughout the country. Karachi, Islamabad and Punjab has more demand for housing. He said there is a big potential and scope of housing industry in the country. The government should introduce more incentives and facilities for strengthening and promotion of this industry. Besides catering to the need for shelter to the people, it supports other industries like cement, steel, chemicals. Thus, it provides direct and indirect employment to millions of people. He said the government should control the prices of cement which is the main ingredient of the housing and works industry. He said he had been and would be
trying his best for new legislation in the upper house aimed at promoting housing/construction sector. Senator Muhammad Humayun Khan Mandokhel also emphasized on redesigning of tendering procedures/systems to ensure award of public sector projects contracts to right construction companies enjoying good repute and excellence in the field. "There should be a pool of tenders under competent authority and these should be awarded on merit after their thorough valuation. Personal contact between the contractors and Government officials involved in processing tenders till their acceptance or rejection be minimized," he asserted. -APP
Veteran journalist Safdar Qureshi laid to rest ISLAMABAD: Safdar Ali Qureshi, former Director General of Associated Press of Pakistan (APP) and International Islamic News Agency who died due to cardiac arrest was laid to rest here on Friday. His "Qul" will be held at his residence House No. 4-B, Street 12, F-8/3, today (Saturday). Safdar was also the former President of Pakistan Federal Union of Journalists for two terms.-APP
3 Saturday, March 5, 2011
Dollar falls in volatile trade after US jobs report
Previous Day
the lowest since April 2009, versus 9.0 per cent in January. Analysts said while the data sent a strong signal the labor market recovery has become self-sustaining, the number was close to forecasts, disapp o i n t i n g investors who hoped for an even stronger report. "We are seeing some gradual improvement in the labor market but not dramatic enough to change Fed policy," said Steven Englander, head of G10 strategy at Citigroup in New York. "The Fed will look at this data and see
no reason to change policy." The dollar index, which measures the greenback versus a basket of major cur-
rencies, fell as low as 76.275, the lowest since Nov. 5.on the day, after jumping as high as $1.4009 on trading platform EBS, the strongest level since early November. The euro has moved sharply higher versus the dollar in recent weeks on growing expectations the ECB will
Asian currencies
Rupiah at 4-yr high on cbank; intervention caps gains Intervention from Indonesia, Philippines, Singapore, Thailand spotted SINGAPORE: The rupiah hit a near four-year high against the dollar after the central bank signalled on Friday it was willing to use the currency's gains in its battle with inflation even though it was seen buying dollars in an effort to control the rupiah's rise. The central bank kept its benchmark rate on hold at its policy meeting, but said that it would gradually lift borrowing costs in the future and that it saw room for the rupiah to strengthen further without hurting export competitiveness. Central banks in other Asian countries, such as Singapore, Philippines and Thailand, were also spotted buying dollars. Dealers said the interventions seemed designed to slow their
currencies' gains rather than to weaken them because that would exacerbate inflation pressures. The dollar slid by up to 0.3 per cent against the rupiah to 8,780, the rupiah's strongest level since June 2007, from Thursday's close of 8,803. Foreign investors continued to sell the pair, which has room to fall to 8,755, the low in June, but the central bank was on guard, dealers said. Dollar/Taiwan dollar slid to a two-week low as foreign investors sold the pair and on foreigners' continuous stock purchases. Dollar/Taiwan dollar touched 29.310, the lowest since Feb 18. Dollar/won hit a near two-week low as continuous foreign purchases of Seoul stocks
Stg subdued near 1-mth low vs euro LONDON: Sterling fell to a onemonth low against a buoyant euro on Friday as yield differentials widened in favour of the single currency, but the pound held its ground against a floundering dollar after US jobs numbers. Analysts said the jobs numbers, while better than expected, did little to alter expectations that the Federal Reserve will keep policy
the day at 85.96 pence, having risen to as high as 86.00 pence, its highest level since Jan. 31 when it hit a peak of 86.19 pence. "There are significant risks on the upside for euro/sterling and yield spreads have moved in favour of the euro after yesterday's comments from the ECB," said Adrian Schmidt, FX strategist at Lloyds TSB. "We see it ris-
accommodative for most of this year. In a market where investors are increasingly focused on rate differentials, that is likely to keep the dollar under pressure. In contrast, the euro continued to be boosted by comments from European Central Bank President Jean-Claude Trichet who said on Thursday that euro-zone rates could rise next month -- stunning markets which were expecting a rise late this year. Trichet pledged "strong vigilance" on rising inflation, a phrase that in the past has signalled a forthcoming rate rise. The euro was up 0.2 per cent on
ing to 86.50 in the near term." A softer-than-expected reading of UK house prices also weighed on sentiment. The Halifax index showed UK house prices fell at their fastest pace in more than a year in February. Traders said selling in the sterling/Swiss franc cross had dragged the pound lower. But steady buying by a UK clearer and a US custodial bank lifted the pound from its lows. Against the dollar, sterling was flat at $1.6265, with the pound rising towards option expiries at $1.63 earlier in the session. -Reuters
prompted stop-loss dollar sales. The pair fell to as low as 1,114.1, the lowest since Feb. 21, but it found support from caution over dollar-buying intervention by South Korea's foreign exchange authorities and importers' demand around mid1,110. Dollar/peso edged down on fixing demand and profit-taking from the peso's recent gains, but the Philippines's central bank was spotted buying dollars to check the peso's strength. Bangko Sentral Pilipinas (BSP) was seen intervening at around 43.25-27, dealers said, even though it said higher February inflation supported its view that the scope for keeping rates steady has narrowed. -Reuters
Swiss franc jumps on SNB comments ZURICH: Swiss franc pushed back from a two-week low against the euro and rose against the dollar on Friday after Swiss National Bank Vice-Chairman Thomas Jordan said low interest rates were not sustainable in the medium term. The euro had spiked higher against on Thursday after ECB President Jean-Claude Trichet said the bank would exercise "strong vigilance" over rising inflation, a phrase many saw as a signal a rate rise could come as early as April. For Switzerland, interest rate futures now price in a full first post-crisis rate hike for September with a certain chance of a move even in June. The franc clawed back some of the ground lost the previous session against the euro compared to the New York close, rising 0.2 per cent to 1.2985 francs per euro at 0848 GMT. The franc climbed 0.2 per cent against the dollar, trading at 0.9299 francs per dollar. The Swiss National Bank said on Friday foreign currency reserves fell about 1 per cent to 205.7 billion Swiss francs in February after the franc strengthened against both the euro and the dollar during the month, crimping the value of the reserves. -Reuters
NZ dollar plumbs near one-year low vs racy euro WELLINGTON/SYDNEY: The New Zealand dollar skidded to a near one-year low against the euro on Friday after the European Central Bank staggered markets by signalling it would likely hike interest rates in April, far earlier than anyone seriously expected. The timing was particularly tough for the NZ dollar given intense speculation the Reserve Bank of New Zealand (RBNZ) will cut its rates next week, perhaps by up to 50 basis points. Peter Jolly, head of research at National Australia Bank, said the bank's forecast is for a 25 bps cut on the view the underlying economy is more robust than people fear. However, he would not rule out a 50 bp cut, particularly if the RBNZ wanted to make a statement and boost sentiment. "But don't read this cut as a precursor to a series of cuts. It will be an emergency cut," he said. The euro soared nearly five cents in the past 24 hours to as far as NZ$1.8935, reaching highs not seen since April, 2010. It was last around NZ$1.8877, having gained more than three per cent this week. This euro spike put an additional strain on an already ailing kiwi, which sank further to a 12-
week low of$0.7367. Support is now at $0.7343 and resistance at $0.7423. The NZ currency has been battered by a host of negatives including expectations of a rate cut and sharply reduced GDP forecasts. It fell 5.2 per cent against the US dollar in the past four weeks. A diverging rate outlook between New Zealand and Australia propelled the Aussie to a fresh 19year peak of around NZ$1.3731, bringing gains in the last eight sessions to 4 per cent. It last hovered around NZ$1.3727. Markets have priced in at least a 25 basis-point cut to the cash rate by the RBNZ, while a Reuters poll of 19 analysts showed 9 expected a cut of 50 bps. The explosive rally in the euro saw it spike to a five-week high against the Australian dollar at A$1.3802. It last stood at $1.3766. Against the dollar, the Aussie was steady at around $1.0137 and is expected to remain within a $1.0100 to $1.0200 wedge. Australian rates are seen steady at 4.75 per cent until mid-year at least. Recent data has been generally upbeat though it has also suggested that inflation is contained for the moment. -Reuters
raise interest rates before the US central bank does. The US jobs report "is overshadowed by Trichet's very hawkish comments yesterday," said Paresh Upadhyaya, head of Americas G10 FX Strategy at BofA Merrill Lynch Global Research in New York. The dollar was last little changed at 82.35 yen after hitting a session peak of 83.09 yen immediately after the release of the payrolls report. The safe-haven Swiss franc rallied as violent clashes intensified between loyalists to Muammar Gaddafi and rebel forces, heightening worries that political instability in the Middle East and North Africa could disrupt oil supplies. The dollar fell 0.7 per cent to 0.9251 Swiss franc, while the euro was down 0.5 per cent at 1.2945 francs. -Reuters
Yuan ends higher; more gains seen SHANGHAI: The yuan closed up versus the dollar on Friday after the People's Bank of China set a record high mid-point for the second day, in a further sign that the government is using the currency to help fight high inflation, worsened by surging imported commodity prices. But the yuan failed to immediately hit a record trading high amid caution that its appreciation may still be limited in the next couple of weeks as Chinese leaders gather in Beijing this week for the annual parliamentary session typically held in the first half of March, traders said. "Investors believe the yuan's rise during the NPC session will be limited and thus refrain from trading at levels that appear too strong," said a trader at an Asian bank in Shanghai, referring to China's National People's Congress, the parliament. "Still, the yuan has strong potential for further rises for the rest of this year as China uses the currency as part of its tools to fight inflation." Spot yuan closed at 6.5686 versus the dollar, up from Thursday's close of 6.5731 and
has risen 3.92 per cent since its depegging in June 2010. It is now within arm's reach of its record trading high of 6.5654 hit on Feb. 21. Before trading began, the PBOC fixed the yuan's midpoint at a record high of 6.5671 on the dollar, stronger than Thursday's 6.5695. The fixing, from which the yuan can trade up or down a maximum 0.5 per cent in a given day, is used by the PBOC to express the government's intentions for the currency. Benchmark one-year dollar/yuan non-deliverable forwards (NDF) were bid at 6.4050, slightly up from 6.3980 at Thursday's close. Their implied yuan appreciation in a year's time fell to 2.53 per cent from 2.64 per cent. For the past couple of months, NDF-implied yuan appreciation has persistently lagged market expectations of a 5 to 6 per cent rise in 2011 partly because hedge funds, the main players in forwards, cut back exposure to Asian markets in favour of dollar assets as the US economy recovers, traders said. -Reuters
Indian rupee ends up but off highs MUMBAI: The Indian rupee pared most of its early gains to end marginally stronger on Friday, tracking a decline in local shares and high global oil prices, while a strong euro supported. The partially convertible rupee closed at 44.98/99 per dollar after trading in a range of 44.9100-45.0350. It had closed at 45.035/045 on Thursday. "We are not seeing a sharp appreciation in the short term till the Middle East problems are settled," said Hari Chandramgathan, a senior foreign exchange dealer with Federal Bank, adding the Indian unit is expected to trade in a range of 44.50-45.50 in the near term. Chandramgathan said local shares and movement in oil dragged the rupee off highs on Friday. Foreign fund flows into and out of equities are a key determinant of the rupee's movement and they were net sellers of $2.05 billion worth of shares so far this year as of March 3.
Events
GBP USD USD USD CAD USD
Halifax HPI m/m Non-Farm Employment Change Unemployment Rate Average Hourly Earnings m/m Ivey PMI Factory Orders m/m
Actual
Forecast
-0.9% 192K 8.9% 0.0% 69.3 3.1%
-0.6% 191K 9.1% 0.2% 50.6 2.1%
Previous
0.8% 63K 9.0% 0.4% 41.4 1.4%
Currencies Rate
Euro climbs above $1.40 on ECB rate rise view NEW YORK: The dollar fell to a fourmonth low against major currencies in volatile trading on Friday and looked set to extend losses after above-forecast US jobs data did little to alter expectations the Federal Reserve would maintain its loose monetary policy. The euro rose above the key psychological $1.40 mark and headed for its biggest weekly rise in six weeks. The single currency is on course to make a run toward $1.4283, a key resistance level reached last November, after European Central Bank President JeanClaude Trichet hinted Thursday at an interest rate rise in April. Nonfarm payrolls increased 192,000, the US Labor Department said, topping forecasts of 185,000 jobs. The unemployment rate dipped to 8.9 per cent,
Source
One-month onshore forward premiums were at 25.50 points versus 24.50 points on Thursday. One-month offshore nondeliverable forward contracts were quoted at 45.25, weaker than the onshore spot rate. In the currency futures market, the most traded nearmonth dollar-rupee contracts on the National Stock Exchange, the MCX-SX and on the United Stock Exchange closed at 45.1650, 45.1600 and 45.1650, with the total traded volume at $6.7 billion. Reuters
Name EUR-USD USD-CHF GBP-USD USD-CAD AUD-USD EUR-JPY EUR-GBP EUR-CHF GBP-JPY CHF-JPY Gold
As per 22.00 PST Ask High 1.3982 1.4008 0.9247 0.9327 1.6267 1.6304 0.9717 0.9741 1.0113 1.0145 115.1400 115.9800 0.8598 0.8599 1.2930 1.3024 133.9700 135.2000 89.0900 89.3100 1430.5500 1431.2000
Bid 1.3981 0.9243 1.6262 0.9714 1.0109 115.0900 0.8594 1.2926 133.9100 89.0400 1429.8000
Low 1.3944 0.9225 1.6237 0.9703 1.0079 114.9000 0.8568 1.2918 133.8200 88.3000 1413.7600
London Inter Bank Offered Rates (LIBOR) Karachi: The following are the London Inter-Bank Offered Rates (LIBOR). British Members Association Interest Settlement Rates. AT 11:00 LONDON TIME 04/03/2011 A USD GBP CAD EUR JPY O/N 0.22150 0.55625 0.97167 0.35375 SN 0.10813 1WK 0.24700 0.57563 1.00167 0.81625 0.11375 2WK 0.25250 0.58313 1.04000 0.82375 0.11813 1MO 0.26000 0.61250 1.08250 0.85188 0.13500 2MO 0.28600 0.68313 1.14750 0.97438 0.15688 3MO 0.30950 0.80500 1.21883 1.11813 0.19125 4MO 0.35050 0.88750 1.28583 1.21375 0.24438 5MO 0.40850 0.99313 1.35167 1.31250 0.30125 6MO 0.46250 1.11063 1.42167 1.42625 0.34875 7MO 0.51600 1.19250 1.50750 1.50125 0.39625 8MO 0.56925 1.28000 1.59917 1.57125 0.44563 9MO 0.62425 1.36188 1.68417 1.65000 0.49125 10MO 0.67950 1.44500 1.77333 1.71875 0.51813 11MO 0.73150 1.51500 1.86000 1.78500 0.54375 12MO 0.79200 1.58375 1.95000 1.85250 0.57125
Major Central Banks Overview Central Bank
Next Meeting
Bank of Canada Bank of England Bank of Japan Federal Reserve Swiss National Bank The Reserve Bank of Australia European Central Bank
Last Change
April 12, 2011 September 8, 2010 March 10, 2011 March 5, 2009 March 15, 2011 December 19, 2008 March 15, 2011 December 16, 2008 March 17, 2011 March 12, 2009 April 5, 2011 November 2, 2010 January 1, 2001 May 7, 2009
Current Interest Rate 1% 0.50% 0.10% 0.25% 0.25% 4.75% 1%
Division of National Bank of Pakistan (NBP) KARACHI, March 04,2011 Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Countries Selling Buying Buying TT & OD TT Clean OD/T.CHQ USA UK EURO CANADA SWITZERLAND AUSTRALIA SWEDEN JAPAN NORWAY SINGAPORE DENMARK SAUDI ARABIA HONG KONG CHINA KUWAIT MALAYSIA NEW ZEALAND QATAR UAE KR WON THAILAND
85.60 139.34 119.46 88.00 91.80 86.72 13.56 1.04 15.37 67.51 16.02 22.82 10.99 13.03 308.02 28.26 63.16 23.51 23.31 0.08 2.81
85.40 139.01 119.18 87.79 91.59 86.51 13.53 1.04 15.33 67.35 15.98 22.77 10.96 13.00 307.30 28.19 63.01 23.46 23.25 0.08 2.80
85.15 138.58 118.80 87.56 91.35 86.29 13.49 1.03 15.29 67.17 15.94 22.71 10.93 12.97 306.50 28.12 62.84 23.40 23.19 0.08 2.80
Revaluation Rates Treasury Bills / PIBs / FIBs Holding Applicable for March 04, 2011
KASB 0-7days 12.95 8-15dys 13.00 16-30dys 13.05 31-60dys 13.20 61-90dys 13.36 91-120dys 13.48 121-180dys 13.60 181-270dys 13.65 271-365dys 13.80 2-- years 14.08 3-- years 14.18 4-- years 14.20 5-- years 14.20 6-- years 14.24 7-- years 14.26 8-- years 14.25 9-- years 14.22 10--years 14.22 15--years 14.50 20--years 14.75 30--years 14.90
BMA 12.98 12.95 13.00 13.14 13.32 13.47 13.63 13.67 13.78 14.12 14.18 14.20 14.19 14.25 14.25 14.25 14.17 14.17 14.60 14.70 14.85
ELXIR 12.90 12.95 12.95 13.13 13.36 13.48 13.60 13.68 13.80 14.05 14.17 14.18 14.19 14.25 14.28 14.23 14.18 14.19 14.60 14.75 14.95
GSL 12.90 12.90 13.00 13.15 13.38 13.50 13.64 13.68 13.80 14.05 14.17 14.18 14.18 14.23 14.25 14.23 14.22 14.18 14.55 14.90 15.10
ICSL 12.95 12.95 13.00 13.15 13.35 13.48 13.60 13.68 13.78 14.05 14.18 14.22 14.20 14.30 14.35 14.23 14.20 14.20 14.60 14.75 15.00
JSCM AvgRate 13.00 12.95 12.95 12.95 13.00 13.00 13.15 13.15 13.36 13.36 13.45 13.48 13.61 13.61 13.65 13.67 13.75 13.79 14.05 14.07 14.17 14.18 14.20 14.20 14.20 14.19 14.25 14.25 14.30 14.28 14.20 14.23 14.18 14.20 14.17 14.19 14.50 14.56 14.75 14.77 15.00 14.97
Currencies Correlation EUR/USD Period 1 1 3 6 1 2
AUD/USD EUR/CHF EUR/GBP EUR/JPY GBP/USD NZD/USD
week month months months year years
-0.09 0.52 0.43 0.50 0.79 0.13
0.80 -0.75 0.55 0.62 -0.07 0.54
-0.56 0.77 0.43 0.82 0.63 0.58
0.93 0.12 0.87 0.85 0.36 0.71
0.80 0.63 0.88 0.78 0.75 0.79
-0.39 -0.17 0.31 0.52 0.69 0.18
USD/CAD USD/CHF -0.44 -0.44 -0.61 -0.26 -0.68 -0.01
Karachi Inter Bank Offered Rates (KIBOR) Karachi: The following are the Karachi Inter-Bank Offered Rates (KIBOR)04/03/2011 1WEEK
2 WEEK
1 MONTH
3 MONTH
6 MONTH
9 MONTH
1YEAR
2YEARS
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
BID
ASK
ABLN 12.80
13.30
12.80
13.30
12.80
13.30
13.35
13.60
13.60
13.85
13.70
14.20
13.80
14.30
14.00
14.50
JSBL
12.90
13.40
12.95
13.45
13.00
13.50
13.40
13.65
13.60
13.85
13.70
14.20
13.80
14.30
13.90
14.40
ASPK 12.80
13.30
12.85
13.35
12.85
13.35
13.30
13.55
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
CIPK
12.80
13.30
12.80
13.30
12.80
13.30
13.40
13.65
13.60
13.85
13.70
14.20
13.90
14.40
14.10
14.60
DBPK 12.70
13.20
12.75
13.25
12.75
13.25
13.30
13.55
13.40
13.65
13.50
14.00
13.60
14.10
13.80
14.30
FBPK 12.80
13.30
12.80
13.30
12.80
13.30
13.35
13.60
13.55
13.80
13.70
14.20
13.80
14.30
13.90
14.40
FLAH 12.85
13.35
12.85
13.35
12.85
13.35
13.35
13.60
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
HBPK 12.85
13.35
12.85
13.35
12.85
13.35
13.35
13.60
13.50
13.75
13.65
14.15
13.75
14.25
13.85
14.35
HKBP 12.85
13.35
12.85
13.35
12.85
13.35
13.30
13.55
13.50
13.75
13.60
14.10
13.75
14.25
13.85
14.35
NIPK
12.75
13.25
12.90
13.40
13.20
13.70
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
HMBP 12.85
13.35
12.90
13.40
12.90
13.40
13.40
13.65
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
SAMB 12.80
13.30
12.90
13.40
12.95
13.45
13.30
13.55
13.50
13.75
13.65
14.15
13.75
14.25
13.85
14.35
MCBK 12.70
13.20
12.70
13.20
12.75
13.25
13.35
13.60
13.50
13.75
13.60
14.10
13.70
14.20
13.80
14.30
NBPK 12.75
13.25
12.80
13.30
12.80
13.30
13.30
13.55
13.50
13.75
13.70
14.20
13.80
14.30
13.90
14.40
SCPK 12.75
13.25
12.75
13.25
12.75
13.25
13.25
13.50
13.45
13.70
13.60
14.10
13.70
14.20
13.80
14.30
UBPL 12.85
13.35
12.85
13.35
12.85
13.35
13.40
13.65
13.50
13.75
13.65
14.15
13.80
14.30
13.90
14.40
AVE
13.31
12.84
13.34
12.84
13.34
13.35
13.60
13.51
13.76
13.64
14.14
13.76
14.26
13.86
14.36
12.81
-0.03 -0.91 -0.59 -0.47 -0.72 -0.35
4 Saturday, March 5, 2011
We’ll win this war!
The Financial Daily International Vol 4, Issue 199
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board
Hamid Waheed
T
he battle of hearts and minds against terrorists is more of a Haseeb Khan, FCA S. Muneer Hussain Rizvi relay race between the teams Asim Abbas Ashary, CPA Khurram Shehzad, CFA in which single players can conAkhtar M. Zaidi, FCA tribute but cannot bring victory for Prof. Zakaria Sajid (KU) the team. The end game revolves Dr. A. Hadi Shahid, FCA Zahid Bukhari SVP HBL (retd) around shaping the environment Muhammad Arif Ismat Sabir and society favorable to the teams. Head office The team of terrorists uses coercive cards to shape their game. They ter111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 rorize the society to control econoURL: www.thefinancialdaily.com my and make generations' hostage Email Address: editor@thefinancialdaily.com to their ideology. The second team Lahore office of government uses Law Enforcing 24- Peshawar Block, Fortress Stadium, Lahore Agency (LEA) for establishing the Telephone: 92-42-6675595 Fax: 92-42-6664349 writ of the state and provide the Email Address: editor@thefinancialdaily.com space to society, where they can exercise their will and independence to earn their livelihood. The government provides opportunities and political will for a comfortable environment and makes efforts for a sustainable economy for future generations. Unlike many insurgencies Pakistan has been lucky to have a player which has covered the most difficult part in a very short time to support government's strategy of dialogue, development and deterrence. The success of LEA in general and Pak Army in particular under farsighted leadership of General Kayani has delivered in shape of Swat/ Malakand success Over the last three years the city of lights has stories. The success of Swat opera-
Khi going uglier, dirtier
become uglier in many respects. At an average the city is experiencing load shedding of electricity up to six hours at an average. Outages are also affecting supply of drinking water. One does not feel secure at night as car snatching is common and motorcyclists are robbed at traffic signals soon after the sun sets. To beef up security residents have constructed iron gates and many of the multistory buildings have become hideouts for the criminals. Police is busy in escorting the VVIPs and traffic police paying less attention on ensuring smooth movement of vehicles but more in fleecing the drivers. The yellow devils violate rules because they pay regular 'bhatta' to traffic police. Go to any part of the city under the control of city government or cantonment boards main arteries and service roads and the footpaths have been encroached. In the commercial areas 'car washers' occupy often the entire road, who also learn driving on the cars. If any one leaves his/her car for a few minutes it is towed away but traffic police does not tow away the vehicles in the custody of car washers. One can conveniently say traffic police is the partner in the earnings of car washers. Wall chalking has defaced the entire city. All sorts of slogans and publicity messages are written even on the walls of educational institutions, government buildings, police stations and even places of worship. Added to this is hoisting of flags of political and religious parties. One often wonders that the cloth used in party flags and banners is sufficient for providing clothing for the haves not. The fall out of this culture is that often clashes takes places in which many precious lives are lost. Over the years many flyovers, under passes and u-turns have been constructed to ensure smooth flow of traffic but drivers blatantly violates the rules. The worst violators are the school vans and buses. The owners are ruthless they not only overload the vehicles but also drives against the traffic flow. They are also joined by the parents and one could see the worst traffic jams where schools are located. This happens almost daily and twice a day. One could still recall cleaning of roads by mechanical brooms late night or early morning. Most of these vehicles have disappeared and one could see the janitors cleaning the roads up to mid day and collecting garbage in open trucks. However, in many areas garbage is burnt through out the day. The most polluting area is Korangi Expressway. All this can be attributed to apathy of public representatives, government servants and above all the citizens who consider violating the rules their right. If elites of the society are above accountability no one can stop the common men taking the rules in their hands.
Disclaimer:
All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.
tion and settlement of displaced people of Swat became role model for the society and the environment was shaped in favour of government and the army. The military pressure dislodged the (terror) groups from some of their training areas and kept them on the run. The violence fell by 60 per cent in the second half of 2009, compared with the first half. At the same time, the neutralization of suicide bombing ability of the militants gave the security forces an added edge to wipe out the remaining Taliban. Some police officials claim that change in the kind of crimes shows that the situation is moving back to normal. Kidnappings top the crime chart in 2010 with 547 cases, including 133 of kidnapping for ransom, as compared to 530 in 2009, including 158 for ransom. But the major achievement is that a threat of the Taliban marching on to Peshawar has been neutralized. Swat and Buner to the north of Peshawar had been overrun by Taliban who had also made gains in the Upper and Lower Dir and Shangla districts have been reversed. The militants, after losing ground, have also changed tactics and are now relying more on roadside bombings, rocket and mortar attacks, ambushes and kidnappings for ransom. The number of militant attacks on police stations, intelli-
gence agency and security forces has also dropped. The change in suicide techniques and use of woman suicide bomber in tribal culture speaks of pressure on militants. A security report from the Pak Institute for Peace Studies (PIPS) said the number of violent incidents and terror attacks in Pakistan fell by 11 per cent during 2010, compared to 2009. The number of suicide attacks fell by 22 per cent to 68 in 2010, compared with 87 last year. The senior commanders of TTP who started the war of terror in Pakistan have been eliminated and mid level inspire little confidence in the ranks. Field commanders seem to be on their own, each pursuing his own agenda resulting in a breakdown of authority on the ground. Mid and lowerlevel commanders are being captured or are laying arms, many of their replacements seem incapable of keeping their fighters in line. The kidnappings, indiscriminate IED and suicide-bomb attacks, abuses of power, blowing up of schools and bridges having direct implications for local populace are alienating formerly sympathetic villagers. Such success is force multipliers in insurgency as it is not only that you reduce fighting capability of terrorists but this also provides a propaganda victory. The deserter from ter-
rorists under unfavorable environment created by LEA becomes a source of vital information on terrorist techniques, move and intensions to work out future strategy. However the relay race now enters the delicate portion of the strategy and the baton has been passed to the next player. Army can only support the government which is already fragile and under political and economic pressures. The government must act as a prime mover to set pace for the society and provide the environment of economic opportunities and social justice. Within Pakistan's, there is a persistent folklore of Taliban justice: They claim that the Islamists reduced crime and brought a pristine sense of order to the frontier. A bold, clear and upfront leadership to re-enforce confidence in society is the need of time. The confident society will restore their own economy, they will realize the need for a broader education system. The religious institutions in their current form cannot produce professionals needed for a functioning contemporary society. Above all, the leadership has to convince and take the nation including political stakeholders on board for the existing and oncoming challenges on national as well as global issues to consolidate gains and leap for opportunities.
The Afro-Arab Unrest Farooq Adil
T
he protests started from Tunisia have now gripped not only African countries but the Gulf States also. The spillover of this sporadic violence is so enormous that whole of the Middle East seems shattered and the reverberation is being felt in the neighboring countries as well. The shock wave has swept away the governments of Bin Ali in Tunisia and Hosni Mubarak in Egypt in a very short span of time. Particularly, in the case of Egypt, it did not take even three weeks to topple the Mubarak's regime. More rapid was a phenomenon in Libya where the autocratic leader, Qaddafi, despite using all available force to crush the protesters, has not been able to control the upsurge even after heavy bloodshed. Of late, Muammar Qaddafi has vowed to fight till death which makes the future of Libya more unpredictable. As the shockwave travels, the worst affected countries now include Bahrain, Morocco and Algeria. Jordan though peaceful as yet, but houses the potential to
attract similar situation. Yemen and Iran had disturbances even earlier. As Saudi Arabia symbolizes the biggest monarchy, the very existence of such a regime is also threatened. It is worth noting that the only commonality among these countries is autocratic form of government. On the contrary the causes of unrest in every country are at variance. Governments of Tunisia and Bahrain exhibited quite a liberal and moderate attitude as compared to Egypt and Libya where the suppression of general public was predominant. The other diversity is that Bahrain manifests ShiaSunni divide whereas, dynamics of violence in Egypt are attributable to political suppression and in Libya it is the east - west economic divide. There rises a big question that sudden eruption of protests all over the Middle East are circumstantial, accidental happenings or orchestrated ones? At the moment it is difficult to answer this question. Apparently, the situation in Arab world seems to be a call for political transformation and not a revolutionary transformation. Such a political change
ostensibly stems from political suppression, socio- economic divide, abuse of power by authoritarian regimes and the dominance of security establishments. Pointing out of suchlike inadequacies is largely attributed to despotic systems no matter how well-off the people of these countries were. As far as world's reaction to such uprising is concerned, only Iran has linked the uprising in Bahrain with Muslim renaissance for the obvious reasons as Shiites comprise majority of Bahrain's population which is ruled by a Sunni minority. On the other hand, Saudi Arabia is the only country which has overtly supported autocratic governments of the region. This is likely to cause a dent into ongoing process of normalization of relations between Iran and Saudi Arabia. Nevertheless, it is astonishing to note that in the entire phenomenon, major world players like Al-Qaida, extremists and the west including USA have become irrelevant. It seems a purely public roar which is uncontrollable as yet. Therefore, remaining countries of the world are only trying to be
relevant to the situation as no one at the moment is in a position to steer the tide in the wake of enormous public impulse. Although, the propensity is likely to continue in near future, yet the strategic maneuvering by the world players to the advantage can never be ruled out. As it is perceived that life line of Europe (Suez Canal) passes in the close proximity and under control of Egypt, immediate normalisation of peace in this region with a favorable government in place would therefore be the top most priority of west. The whole scenario, though, does not have direct bearing on Pakistan, yet it may have tangential affects in the shape of price hike owing to escalation in oil prices as most of the affected countries are oil producing states. Besides, Pakistan has a sizeable Shiite community drawing influence from their Iranian brethren. If Shiites of Bahrain rise to throne with the help of Iran, it may invoke mild influence in the Shia community of the region. Such a phenomenon would create double dilemma for Pakistan i.e. dealing with internal dissensions as well as striking a balance in its relations with Iran and
Arabs, particularly, Saudi Arabia. The aspect which requires greater attention is that Pakistan already embraces turbulent environment where socio-economic divide coupled with the sectarian diversity is pronounced, therefore, exploitation of the situation by certain quarters cannot be precluded. There is a segment of society which, through, openness of the media is making an effort to correlate such happenings with internal situation of Pakistan. India, who has always drawn more rhetoric from enmity of Pakistan than anything else, would never let any opportunity of exploitation to go away. In the backdrop of her involvement in Balochistan, fueling sectarianism and alleged support to TTP, an attempt to orchestrate a calamitous theory for Pakistan under the prevalent circumstances have to be given a serious thought. At this juncture it is, therefore, important for the intelligentsia of the country to ponder and guard against any attempt by the enemies of Pakistan which could drive already turbulent country into a more catastrophic situation.
The Dragon in the Desert A
behemoth dragon-shaped shopping mall in the desert near Dubai has become a symbol of the deepening links between East Asia and the Middle East. Dragon Mart -- 3,950 wholesale and retail shops, stretching 1.2 km, or about three-quarters of a mile, in a sinuous strip alongside a desert highway -- is China's trade outpost in the Gulf, selling everything from marble tiles and artificial hair extensions to dried fish and Mickey Mouse telephones. "I come here with my wife and four children every second week, it's much cheaper and it is a great shopping experience," Souhail alZaabi, a policeman from Ras alKhaimah, said recently. "Today, we are buying a chandelier for our majlis," he added, referring to the traditional Arab sitting room, "not too big, but like crystals it must look". Farther along the mall, Chinese massage machines were selling briskly. "I have already bought three tools," said Ali Abdulkader, a 65year-old customer, also from Ras al-Khaimah, shopping at a Body Care health and fitness outlet. "They are good for my body. I have a massage belt, a massage hammer, and a massage chair installed in my car. It's cheap stuff, cheap." The Elite Sauna Belt, to reduce fat and decrease joint stiffness, costs 50 dirhams, or about $13.50, including a remote control. A Magic Hand massage hammer, usu-
ally priced at 150 dirhams, was on sale for 45 dirhams. Similar European models cost four times as much. Trolleys loaded with children's bicycles and fluorescent lights were parked at the cashier desk of the Suntour restaurant, where the smell of stirfried vegetables and black bean sauce filled the air. If it weren't for the veiled women and men in Arab garb, this could be a corridor in any of China's factory cities, crammed with merchandise and the cacophony of electric toys. Inaugurated in 2004, Dragon Mart, a retail property division of the Dubai government's investment vehicle Dubai World, is one of the largest trading centres for Chinese products in the world outside China. According to the Federal Customs Authority of the United Arab Emirates, non-oil trade between the Emirates and China reached around 42.6 billion dirhams in the first 10 months of 2010, up 3.4 percent from the same period in 2009. There are almost 200,000 Chinese residents and more than 3,000 companies in the Emirates, according to the Chinese Consulate. That compares with an estimated total population in the Emirates of about five million. "The Chinese economy is resource hungry, and there is a need to access Gulf markets," said Mark McFarland, emerging markets economist at Emirates NBD in Dubai, who had previously worked
in Hong Kong. "The commerce important for children to be skilled with China is a symbol of its rise as in different areas," Kazim said. Chinese residents, meanwhile, an economic power." "China has been at the forefront are picking up Arabic. "The of free-trade agreements with the Chinese ambassador and the UAE, which is of great benefit to Chinese consul both speak very both countries," he said. "Dubai is well Arabic," said Hamdan becoming a regional hub for a lot Mohamed, president of the Arab of Chinese operations that are set- Business Club in Dubai. "We have a big Chinese commuting up in the region, but also nity in the UAE. To enter this comdevelop businesses in Africa." The Dragon is a Chinese symbol munity you have to speak their lanof power and strength, and the mall guage." A natural global hub for long-disaptly symbolises the growing strength of China's presence in the tance flights between Asia, Europe Emirates, where a growing number and Africa, "Dubai is a great locaof Chinese businesses have set up tion which reflects this," operations and store signs in McFarland of Emirates NBD said. Chinese intermingle with those in "A lot of the companies here are Arabic. construction and manufacturingSome Emiratis have chosen to oriented. You can envision a big send their children to a Chinese increase in trade between the UAE school, believing that knowledge and China." -Reuters of both Arabic and Chinese will be a key to success in the coming decades. Hamid Kazim, an Emirati business consultant, has sent four of his five children to a Chinese school in Dubai, where they sit on bright green and yelGovernment has reversed 50 % increase in POL low stools -- most prices. Apparently, nerves of public are being tested. likely bought at Long term solution is required to be sought, instead of Dragon Mart -- toying with masses. Carrot and stick policy is being alongside Chinese, exercised which is unfair. In Pakistan, once prices Malay and Brazilian increased by suppliers and producers, are never taken children. back, hurting badly budget and economy of layman. It "I am an admirer of is hoped that in future sensible decision will be made. China. It's quite Iftikhar Shaheen Mirza, Islamabad
Carrot and Stick Policy
5
Saturday, March 5, 2011
South East Asian stocks
European stocks in red for second straight week KSE-100 Index Opening Closing Change % Change Turnover (mn)
11,762.00 12,000.03 238.03 2.02 187.49
LSE-25 Index Opening Closing Change % Change Turnover (mn)
3,581.14 3,659.85 78.71 2.20 6.46
ISE-10 Index Opening Closing Change % Change Turnover (mn)
2,810.92 2,845.42 34.50 1.23 0.12
Major Gainers
Symbol
Close
Change
RMPL 2,720.02 ULEVER 4,700.03 APL 363.82 ENGRO 226.57 PSO 290.64
107.56 91.62 10.89 10.28 9.17
Major Losers
Symbol
Close
Change
NESTLE 3,410.21 BATA 551.04 ATBA 187.23 SHEL 199.65 FIMM 59.85
-55.92 -15.29 -3.78 -3.16 -3.15
Top 5 Volume Leaders
Symbol
Close Vol (mn)
LOTPTA FFBL BAFL NBP ANL
15.98 42.69 10.00 80.57 9.53
27.34 15.96 14.05 11.92 7.88
Active Issues Plus Minus Unchanged
207 74 91
Sector Updates FERTILISER 000 tonnes
Urea Offtake (Jan to Dec 10) Urea Offtake (Dec 10) Urea Price (Rs/50 kg) DAP Offtake (Jan to Dec 09) DAP Offtake (Dec 10) DAP Price (Rs/50 kg)
6,123 626 1,020 1,317 90 3,143
AUTOMOBILE ASSEMBLER PAK SUZUKI MOTOR Units Production (July 10 to Jan 11) 47,153 Sales (July 10 to Jan 11) 45,113 Production (Jan 11) 6,698 Sales (Jan 11) 6,793
INDUS MOTOR CO Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)
29,078 28,293 5,596 5,885
HONDA ATLAS CAR Production (July 10 to Jan 11) 9,279 Sales (July 10 to Jan 11) 8,779 Production (Jan 11) 1,511 Sales (Jan 11) 1,904
DEWAN FAROOQ MOTORS Production (July 10 to Jan 11) Sales (July 10 to Jan 11) Production (Jan 11) Sales (Jan 11)
186 113 0 23
BANKING SECTOR Scheduled bank (Rs in mn) Deposit (Feburay 4,11) 5,046,861 Advances (Feburay 4,11) 3,140,675 Investments (Feburay 4,11) 2,100,015 Spread (Feburay 4,11) 7.61%
OIL MARKETING CO (000 tons) MS (Jul 10 to Dec 10) MS (Dec 10) Kerosene (Jul 10 to Dec 10) Kerosene (Dec 10) JP (Jul 10 to Dec 10) JP (Dec 10) HSD (Jul 10 to Dec 10) HSD (Dec 10) LDO (Jul 10 to Dec 10)) LDO (Dec 10) Fuel Oil (Jul 10 to Dec 10) Fuel Oil (Dec 10) Others (Jul 10 to Dec 10) Others (Dec 10)
PRICES (Ex-Refinery) MS (1 Feb 11) MS (1 Jan 11) MS % Chg Kerosene (1 Feb 11) Kerosene (1 Jan 11) Kerosene % Chg JP-1 (1 Feb 11) JP-1 (1 Jan 11) JP-1 % Chg HSD (1 Feb 11) HSD (1 Jan 11) HSD % Chg LDO (1 Feb 11) LDO (1 Jan 11) LDO % Chg Fuel Oil (1 Feb 11) Fuel Oil (1 Jan 11)
1,122 188 81 15 727 138 3,426 634 32 6 4,331 690 6 2
Rs 51.74 49.41 4.72% 58.28 55.01 5.94% 58.51 55.24 5.92% 61.80 58.55 5.55% 55.32 53.46 3.48% 47,931 45,947
Indonesia at five-week high as rates left on hold
KSE hits twin-ton of gains in pre-MTS-launch rally
US stocks mid-day
Rising oil, bank downgrades weigh on Wall St
nessed across the board ahead of launch of MTS on Saturday by the Finance Minister", said Ahsan Mehanti, Director Arif Habib Investments. Investors remained bullish throughout the day as political uncertainty waned out after local petroleum prices were rationalised. Rise in global commodity prices, Brent crude oil above $115 and renewed foreign interest in blue chips played a catalyst role in positive activity at KSE, he added. According to NCCPL data foreign investors did a net buying worth $4.84 million on Friday. Having witnessed some mix activities during the first 15 minutes of opening of market,
market remained in positive zone throughout the day as investors bought shares almost across the board mainly the stocks belonging to oil and fertiliser sectors. The major reason that kept the investors bullish was that the Federal Finance Minister is scheduled to visit the exchange on Saturday to launch the much awaited leverage products i.e. Margin Trading, Margin Financing System and Securities Lending & Borrowing System. Further, successful dialogue of Muttahida Qaumi Movement (MQM) with government on petroleum prices too boosted the sentiments up. The session ended with index gaining 230 points.
Federal Minister for Finance and Economic Affairs Dr. Abdul Hafeez Sheikh would visit the exchange on Saturday (Today) and would be the Chief Guest at the launching ceremony of the leverage products. Bullish activities then further increased during the second half of the day where index crossed the psychological barrier of 12,000 points to touched an intraday high of 12,082 (+ve 320). But some profit taking was witness at higher levels which reduced the index gains but it managed to end the session at 12,000 points. Arsalan Khan, equity dealer at JS Global Capital said that some correction was wit-
Nikkei rises on optimism over US jobs
Eligible scrips for MTS
FTSE down on renewed violence in Libya
TOKYO: Japan's Nikkei average climbed for a second session on Friday buoyed by Wall Street's gains on expectations for a big rise in US payrolls and a weaker yen, but players said trade is set to stay choppy near-term on worries over oil. Investors stressed that concerns about turmoil in the Middle East have receded only temporarily, with US crude oil futures prices edging lower on Thursday, and warned that potential inflationary risk could hike input costs, putting earnings of Japanese firms under pressure. Sumitomo Electric Industries led the advance, surging to a 2-½ year high after announcing it had developed a new type of rechargeable battery that could be a cheaper alternative to lithiumion batteries in cars. It gained 8.1 per cent to 1,259 yen. "Right now people are focusing on positive signs in the US economy, but even if US jobs data cheers the market tonight and US markets post gains, the market still hasn't forgotten the inflationary risk that comes with higher oil prices," said Hiroyuki Fukunaga, chief executive of trading information provider Investrust. "Even if the Nikkei adds fur-
KARACHI: Karachi Stock Exchange on Friday released the names of companies eligible for Margin Trading System, Margin Financing System and Deliverable Futures Contract Market. Securities eligible for Margin Trading System are: Arif Habib Corporation Limited, Adamjee Insurance Company Limited, Askari Bank Limited, Azgard Nine Limited, Attock Refinery Limited, Bank Alfalah Limited, D. G. Khan Cement Company Limited, Engro Corporation Limited, Fauji Fertiliser Bin Qasim Limited, Fauji Fertiliser Company Limited, The Hub Power Company Limited, Kot Addu Power Company Limited, Lotte Pakistan PTA Limited, Lucky Cement Limited, MCB Bank Limited, National Bank of Pakistan Limited, Nishat (Chunian) Limited, Netsol Technologies Limited, Nishat Mills Limited, Oil & Gas Development Company Limited, Pakistan Reinsurance Company Limited, Pakistan Oilfields Limited, Pakistan Petroleum Limited, Pakistan State Oil Company Limited, Pakistan Telecommunication Company Limited, Sui Southern Gas Company Limited, and United Bank Limited.
Nawaz Ali KARACHI: Karachi Stock Exchange ended the week on a positive note as it gained more than 2 per cent on Friday to close at the psychological level of 12,000 points. The investors bought shares ahead of the visit of federal finance minister to the Exchange to launch the much awaited leverage products. The benchmark KSE-100 index closed at 12,000 points after gaining 238 points while KSE-30 index jumped by 254 points up 2.22 per cent and KSE all-share index rose by 157 points up 1.93 per cent to close at 11,716 and 8,329 points respectively. "Bullish activity was wit-
ther gains, there is a potential downside as long as crude oil stays above $100," said Fukunaga. The benchmark Nikkei ended the day up 1 per cent or 107.64 points at 10,693.66. The broader Topix gained 0.7 per cent to 955.59. Its immediate support looms around the index's 25-day moving average of 10,597.90. The mood in Tokyo brightened after the number of Americans filing new claims for jobless aid hit the lowest level in more than 2-½ years and hopes were running high ahead of closely watched US jobless figures for February due at 1330 GMT. EURO-SENSITIVE STOCKS UP Euro-sensitive stocks posted strong gains. The common currency fetched 114.93 yen by afternoon in Tokyo after hitting a four-month high of 115.18 on Thursday. Glassmakers, which benefit from European demand, also gained. Volume was moderate, with 2.3 billion shares changing hands on the Tokyo stock exchange's first section, in line with the last week's average daily volume. Advancing shares outpaced declining ones by 968 to 518. Reuters
Staff Reporter
LONDON: Britain's top share index drifted lower on Friday, as renewed fighting in Libya and concerns of contagion prompted investors to consolidate sharp gains made in the previous session, ahead of the weekend. Heavily armed rebels clashed with forces loyal to Muammar Gaddafi on Friday on the outskirts of the Ras Lanuf oil terminal as the head of Libya's rebel council vowed "victory or death". Traders said unconfirmed reports of unrest in Saudi Arabia and Bahrain also spooked the market, with oil jumping over 1.5 per cent to $103.50 a barrel. The FTSE 100 fell 14.70 points, or 0.2 per cent, to 5,990.39, fading from a session high of 6,052.08 but having jumped 1.5 per cent on Thursday. "We've had a decent tick up. Only two days ago we were 100 points lower. Wall Street had a decent day yesterday; I think it's probably a natural reaction," said Rupert Armitage, director at Shore Capital. "In these days of volatility, though, it's not exactly a crash." Energy stocks weakened from intra-day highs, while banks fell,
nessed in the later half of the day on news that the MTS launch will be delayed by a week, to March 14, 2011. Investor participation further improved as 187.4 million shares exchanged hands in the overall market which were 25 million shares more as compared to a turnover of 162.2 million shares a day earlier. Lotte Pakistan was the top traded stock of the day with 27.34 million shares followed by Fauji Fertilizer Bin Qasim with 15.96 million shares and Bank Alfalah with 14.05 million shares. Out of total 372 active issues; 207 advanced and 74 declined while 91 issues remained unchanged.
having been the strongest gainers on Thursday following results from Standard Chartered. US DATA Non-farm payroll data from the world's largest economy failed to fuel appetite for risk among investors, despite hiring by US employers hitting a ninemonth high in February and the jobless rate slipping to a nearly two-year low. "Even though the employment numbers were better than expected ... we really need to be seeing numbers of plus 200,000 in order to appease fears about the US jobs market," a Londonbased trader said. Meanwhile, new orders received by US factories leaped 3.1 per cent in January, the biggest increase since September 2006. Standard Life headed a firm life insurance sector, the stock adding 2.9 per cent after Investec Securities increased its target price and earnings estimates ahead of the company's full-year 2010 results due on Thursday, March 10. Peer Aviva rose 1.4 per cent, as both Credit Suisse and Nomura raised their price targets following forecast-busting full-year results on Thursday. Reuters
ANNOUNCEMENTS Company Period Shell Pakistan Yearly Stand.Chart.Bank Yearly Pak Suzuki Motor Co. Yearly Stand.Chart.Bank (Consolidated) Yearly Bank Al-Falah Yearly Fawad Textile Half Yearly Karim Cotton Half Yearly
Div/Bon/Right 80%(F)(D) 6%(D) 5%(F)(D) -
PAT (Rs in mn) 1,615.58 3,605.62 211.14 3,740.86 968.45 -19.31 -0.13
EPS(Rs) 23.59 0.93 2.57 0.95 0.72 -2.10 -0.11
NEW YORK: US stocks fell on Friday, weighed by rising crude prices and after Wall Street posted its best one-day rise in three months on expectations February's payrolls would grow more than they did. Brent crude prices pushed toward $116 a barrel as Libyan security forces began a violent crackdown on protesters in Tripoli and clashed with rebels near a major oil terminal. Expectations from data earlier in the week that the jobs figure would be better had driven stocks to their biggest one-day gain in three months. But attention quickly turned to unrest in the Middle East and North Africa. "The battle is: has the economy turned in a permanent way, or are higher oil prices going to slow everything down," said Bernie McGinn, president at McGinn Investment Management in Alexandria, Virginia. The unrest in North Africa and the Middle East that has boosted crude prices, coupled with subdued client activity, could weigh on the first-quarter earnings of large US banks, according to Bank of America Merrill Lynch, which downgraded shares of Citigroup Inc and Goldman Sachs Group Inc were to "neutral" from "buy." Goldman fell 1.6 per cent to $161.93 and Citi dropped 2.6 per cent to $4.56. The KBW bank index lost 1.7 per cent. The Dow Jones industrial average dropped 71.22 points, or 0.58 per cent, to 12,186.98. The Standard & Poor's 500 Index fell 9.56 points, or 0.72 per cent, to 1,321.41. The Nasdaq Composite Index lost 12.73 points, or 0.45 per cent, to 2,786.01. US payrolls rose by 192,000 in February, slightly above the 185,000 gain expected by a Reuters poll, and the jobless rate unexpectedly dipped to 8.9 per cent from 9 per cent. Strong data earlier in the week fed optimism that the number would be above 200,000. "Earnings and hours are not increasing, and people's paychecks are not really increasing," said Kim Caughey Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh. "Without more cash in your pocket, there's no way you can spend it." Reuters
Hong Kong stocks up; India mkt in best weekly gain since Nov 2010 Shanghai edges higher HONG KONG: China shares rose on Friday, supported by banks, while a bout of short-covering in Hong Kong after Wall Street's overnight rally helped cement the advance for the Hang Seng. The Hang Seng Index rose 1.2 per cent closing above a near-term chart resistance that had capped its advance over the past two months. Shanghai's key stock index ended up 1.4 per cent at its highest close in 3-1/2 months sustaining a rally in shares of Chinese firms listed in Hong Kong. Mainland banking shares, seen as undervalued, continued to rise with the sector subindex in Shanghai rising 1.6 per cent, poised to end the week with a 5 per cent increase. "Chinese banks on average are trading at a discount to their BRIC peers," said Stanley Li, China banks analyst at Mirae Asset Management, referring to the banking sector in other emerging markets Brazil, Russia and India. "Earnings are expected to be solid and with inflation fears subsiding I think investors are finding value," said Li. Property firms also outperformed in anticipation of more policies to support affordable housing. The property sub-index gained 2.8 per cent. China Vanke, the country's biggest developer by sales and due to release annual results on Monday rose 1.8 per cent. The National People's Congress, a 10-day
meeting when the government outlines the policy agenda for the year, will begin on Saturday. Inflation control is expected to be top priority and rebalancing the economy to give consumption a larger role in China's economy will be a key theme at the meetings, HSBC said in a report on Friday. HK RISES, TENCENT AT RECORD Short-covering added to gains in Hong Kong after bearish bets as a per centage of total turnover in the market hit their highest level earlier this week. The biggest single-day gain for stocks in the US and Hong Kong's benchmark holding above a stubborn chart resistance prompted some investors to cut back on short positions. Shares of Tencent Holdings , which dominates China's online gaming industry, rose 4.4 per cent to a record high and were the biggest boost to the broader market. "Over the past 2 weeks, 9.5 million shares have been shorted including 2.8 million this week, so that's helping to provide some juice," said a Hong Kong-based trader. Tencent shares have jumped 30 per cent this year, far outpacing the benchmark's 1.6 per cent advance and bringing the company's market value to a shade below $50 billion. Reuters
MUMBAI: Indian shares posted their best weekly gain in four months, but closed barely changed on Friday, with investors locking in gains after the recent rally, while the next week was viewed with uncertainty as unrest in the Middle East continues. Engineering and construction firm Larsen & Toubro, led the losses. It dropped 3.1 per cent, after gaining nearly 10 per cent over three previous sessions as traders booked profits. The 30-share BSE index snapped a four-session winning streak and closed 0.02 per cent, or 3.31 points, lower at 18,486.45 points, after rising as much as 1.3 per cent earlier. Sixteen of its components lost ground. It logged a gain of 4.4 per cent for the week, its best since early November last year. "Market is consolidating after the recent rise, triggered after the budget," Vaibhav Sanghavi, director of Ambit Capital, said.
In the annual budget on Monday, Finance Minister Pranab Mukherjee had forecast the economy would grow 9 per cent in 2011/12 beginning April and inflation would ease. Sanghavi said, "It is very difficult to say, how the market will behave next week. Unless, the situation in the Middle East stabilises, we will continue to see volatile trade." Situation in Middle East was closely watched after opponents of Libyan leader Muammar Gaddafi prepared to march in the capital. "The situation in Libya is changing by the hour. It is too difficult to assess the situation for now," Shankar Char, vicepresident and head of sales trading at ICICI Securities. The BSE main index is down nearly 10 per cent so far this year, with foreign funds withdrawing around $2.1 billion up to March 1. The banking sector index climbed 0.5 per cent on hopes an expanding economy will
boost demand for loans. Top lender State Bank of India rose 0.4 per cent. Private lender HDFC Bank firmed 1.2 per cent, while its bigger rival ICICI Bank bucked the trend and shed 0.1 per cent. Mortgage lender Housing Development Finance Corp climbed 1.6 per cent. Leading outsourcer Tata Consultancy Services shed 1.4 per cent, after gaining 3.5 per cent in three earlier sessions. Oil & Natural Gas Corp slipped 0.4 per cent after sources told Reuters a share sale in the state-run explorer was likely to be delayed to the first week of April from an earlier launch date of March 15. The 50-share NSE index or Nifty closed 0.05 per cent higher at 5,538.75. In the broader market, losers outpaced gainers in the ratio of 1.1 to 1, in a volume of 247 million shares, less than 30day daily average volume of 286 million shares. Reuters
6
Saturday, March 5, 2011
Market
KSE 100 Index
Symbols
Volume
187,492,051
Value
8,942,163,211
Trades
92,351
Advanced Declined Unchanged Total
Current High Low Change
207 74 91 372
All Share Index
12,000.03 12,086.58 11,742.24 h238.03
Current High Low Change
8,329.49 8,387.93 8,161.28 h157.68
OIL AND GAS
Company
Paid up Cap(mn)
Current High Low Change
KMI 30 Index Current High Low Change
11,716.67 11,805.49 11,427.88 h254.11
19,892.01 20,053.56 19,485.33 h406.68
High Low 1,525.89 1,476.62 Total cos Defaulter cos P/BV (x) ROE (%) 3.41 32.54
PE
Open
High
Low
Close Chg
Volume
352.93 112.08 9.50 106.06 287.03 151.58 208.52 316.30 95.32 281.47 27.30 202.81
365.95 117.68 10.29 109.99 301.35 155.90 212.99 326.90 100.08 294.49 27.00 205.90
352.01 111.40 9.50 107.00 287.00 151.41 207.50 314.60 95.89 282.40 26.50 192.67
363.82 10.89 117.68 5.60 9.87 0.37 108.70 2.64 295.71 8.68 154.67 3.09 209.49 0.97 321.20 4.90 100.08 4.76 290.64 9.17 26.90 -0.40 199.65 -3.16
280869 1236559 3718197 58109 244668 697430 1344673 4173090 88785 1163942 2599 300147
Last 60 days High Low 401.00 146.90 12.24 141.65 335.00 185.00 229.80 341.50 122.22 317.79 37.45 222.00
321.00 98.25 8.20 99.46 254.00 144.97 190.10 276.50 83.00 265.00 26.00 186.83
2010 Div BR (%) (%) 300 31 200 55 90 255 80 120
% Change 1.78 5-Day High 1,507.21 5-Day Low 1,406.37 2011 Div BR (%) (%)
20B115.00 - 23.43 - 15.00 20B 50.00 -100.00 - 50.00 -
-
CHEMICALS
Open 695.46 Turnover 14,879 P/E (x) 5.22 Company
High Low 707.13 682.57 Total cos Defaulter cos P/BV (x) ROE (%) 1.33 25.53
Close 693.70 Listed cap 3,242.17 mn Payout (%) 11.08
Change -1.76 Market cap 11,974.68 mn Div Yield (%) 2.12
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1092 1321
6.54 9.17
68.00 33.42
69.68 33.00
67.00 32.25
68.00 0.00 33.00 -0.42
14300 579
76.65 39.45
Pak Int Cont.Terminal PNSC
63.00 31.00
Company
Paid up Cap(mn)
PE
Open
High
Low
23.05 88.02 194.16 256.60 2.70 6.65 2.92 216.29 12.37 11.91 119.82 41.24 45.42 10.83 160.69 29.55 13.16 16.01 0.82 2.76 17.00 2.14 98.97 12.67 13.28 36.03
23.84 90.00 196.98 262.99 2.95 6.80 3.03 227.10 12.85 12.08 125.81 42.98 47.00 11.40 163.99 29.00 14.16 16.24 1.24 2.90 18.00 2.45 103.91 13.24 14.25 36.70
23.50 88.00 194.00 255.11 2.67 6.51 2.87 215.51 12.45 11.82 120.20 41.27 46.00 10.85 160.10 28.89 14.16 15.80 0.90 2.69 18.00 2.00 97.00 12.70 13.00 36.68
Close Chg 23.50 88.02 194.23 257.11 2.67 6.71 2.98 226.57 12.57 11.97 125.25 42.69 45.42 11.01 160.89 28.99 14.16 15.98 0.82 2.71 18.00 2.13 97.14 12.90 13.35 36.70
0.45 0.00 0.07 0.51 -0.03 0.06 0.06 10.28 0.20 0.06 5.43 1.45 0.00 0.18 0.20 -0.56 1.00 -0.03 0.00 -0.05 1.00 -0.01 -1.83 0.23 0.07 0.67
Close 1,691.81 Listed cap 52,251.88 mn Payout (%) 48.81
Last 60 days High Low
Volume 5010 129 57034 578379 98268 202033 1606715 5080545 397065 2634790 5488878 15962542 200 33074 417376 850 1863 27335096 116 705534 1600 38570 1109 64693 6816 1325
Change 56.54 Market cap 366,251.19 mn Div Yield (%) 5.19
26.73 103.94 213.30 262.99 3.74 9.25 4.24 227.10 15.87 12.64 157.90 43.99 52.00 13.07 163.99 36.00 19.90 16.80 2.45 3.17 28.20 3.10 131.90 14.54 14.99 41.99
21.58 82.00 155.26 172.00 2.34 6.00 2.26 184.71 11.75 9.16 108.00 34.60 39.00 10.43 137.00 23.07 9.15 12.70 0.57 1.51 16.68 1.55 90.78 11.81 8.51 34.50
2010 Div BR (%) (%) 60 135 25B 50 300B 60 20B 130 25B 65.5 20 175 5 5 25 5B 50 -
% Change 3.46 5-Day High 1,691.81 5-Day Low 1,568.62 2011 Div BR (%) (%) 5 -
-
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,001.57 Turnover 16,514 P/E (x) 5.11 Company
High Low 1,022.85 992.14 Total cos Defaulter cos P/BV (x) ROE (%) 0.38 7.47
Close 1,020.00 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 50 411
8.33 6.65
15.30 36.23 36.26
15.50 37.00 37.25
15.10 36.00 36.00
15.45 0.15 36.17 -0.06 37.24 0.98
11915 1600 2999
Century Paper Pak Paper Product Security Paper
Change 18.43 Market cap 2,813.08 mn Div Yield (%) 4.94
Last 60 days High Low 19.69 48.90 47.70
14.50 36.00 34.00
2010 Div BR (%) (%) 2533.33B 50 -
% Change 1.84 5-Day High 1,020.00 5-Day Low 963.20
Open 1,120.56 Turnover 273,220 P/E (x) 3.97 Paid up Cap(mn)
Atlas Battery Atlas Engineering Ltd Atlas Honda Dewan Motors Exide (PAK) General Tyre Ghandhara Nissan Ghani Automobile Ind Honda Atlas Cars Indus Motors Pak Suzuki Sazgar Engineering Transmission
PE
High Low 1,148.74 1,100.43 Total cos Defaulter cos P/BV (x) ROE (%) 1.01 25.35
Open
High
Low
101 4.97 191.01 247 22.07 37.40 626 9.13 134.15 890 2.00 56 4.41 183.01 598 4.51 22.80 450 3.40 200 5.17 4.40 1428 - 10.41 786 9.84 226.03 823 11.80 65.83 150 4.06 21.98 117 1.30
192.00 35.75 136.89 2.07 190.00 23.39 3.68 4.24 10.50 235.00 67.00 23.07 1.31
185.00 35.75 130.01 1.90 180.00 22.75 3.45 3.71 10.10 225.25 63.60 21.40 1.30
Open 1,925.01 Turnover 213,250 P/E (x) 46.55 Company
Paid up Cap(mn)
Close Chg
Company
Paid up Cap(mn)
Crescent Steel SPOT Dost Steels Ltd Huffaz Pipe International Ind Siddiqsons Tin
PE
565 2.95 675 555 460.00 1199 18.37 785 40.91
Open 28.01 2.11 13.36 50.01 9.00
High 28.50 2.19 13.80 51.35 9.00
Low 28.00 2.00 13.49 48.51 9.00
Close Chg 28.16 2.13 13.80 50.51 9.00
0.15 0.02 0.44 0.50 0.00
Close 1,020.45 Listed cap 3,596.11 mn Payout (%) 30.91
Change 8.29 Market cap 9,679.30 mn Div Yield (%) 9.93
Abdullah Shah Ghazi Sugar 793 Adam Sugar 58 Chashma Sugar 287 Colony Sugar Mills 990 Crescent Sugar 214 Dewan Sugar 365 Faran Sugar 217 Habib Sugar 750 Habib-ADM Ltd 200 Ismail Ind 505 J D W Sugar 539 Mirza Sugar 141 National Foods 414 Noon Pakistan 48 Noon Sugar 165 Pangrio Sugar 109 Premier Sugar 38 Punjab Oil XD 49 Quice Food 107 S S Oil 57 Sanghar Sugar 119 Shahmurad Sugar 211 Shakarganj Mills 695
Open
High
Low
0.91 4.45 3.54 9.25 0.63 1.52 8.53 6.74 20.13 1.32 9.44 5.52 1.18 1.84 7.27 0.26 2.19 3.05 0.34
5.50 14.50 8.05 3.77 6.50 3.00 19.15 21.30 12.00 82.13 74.90 3.78 54.41 20.09 11.00 3.99 39.79 42.00 2.95 3.85 11.50 8.10 5.23
5.51 15.00 9.05 3.70 6.75 3.64 19.00 21.50 11.51 79.00 75.95 4.18 55.00 20.94 11.55 4.10 41.00 44.10 3.20 4.25 11.98 8.90 5.93
5.50 13.55 8.00 3.00 6.25 3.02 18.71 21.00 11.05 78.03 71.22 3.51 53.80 20.62 11.50 3.70 37.81 44.00 2.99 4.10 11.26 8.90 4.80
Last 60 days High Low
Volume 29030 14769 8563 30191 5000
31.00 3.29 16.51 62.20 10.70
24.01 1.80 13.00 45.81 8.51
2010 Div BR (%) (%) 30 55 7.5
Company
Paid up Cap(mn)
Close 1,115.07 Listed cap 6,768.53 mn Payout (%) 20.42
Hussain Industries Pak Elektron Singer Pak Tariq Glass Ind XR
Open
High
Low
106 1219 3.30 341 24.31 231 1.96
6.25 12.94 21.64 13.88
7.00 13.40 20.60 14.88
5.30 12.76 20.60 13.50
Company
Paid up Cap(mn)
Al-Abbas Cement Attock Cement Balochistan Glass Ltd Berger Paints Cherat Cement Dadabhoy Cement Dewan Cement DG Khan Cement Ltd EMCO Ind Fauji Cement Fecto Cement Flying Cement Ltd Gharibwal Cement Haydery Const Kohat Cement Lafarge Pakistan Cmt. Lucky Cement Maple Leaf Cement Pioneer Cement Safe Mix Concrete Shabbir Tiles Thatta Cement
High Low 877.43 832.89 Total cos Defaulter cos P/BV (x) ROE (%) 0.44 7.10
PE
Open
High
Low
1828 866 6.41 858 182 956 39.54 982 12.69 3891 3651 10.81 350 6933 5.88 502 2.12 1760 4003 32 1288 13126 3234 5.97 5261 2228 200 361 798 933.00
2.25 50.50 2.43 16.26 9.11 1.62 1.91 24.31 1.90 4.17 6.75 1.48 7.76 0.47 5.62 2.82 63.32 2.14 5.74 6.00 6.51 18.46
2.93 52.00 2.79 16.60 9.74 1.90 2.05 25.40 2.35 4.36 7.00 1.66 8.25 0.59 6.00 3.04 66.48 2.33 6.00 6.85 7.50 19.10
2.31 50.02 2.55 16.25 9.15 1.61 1.82 24.53 1.85 4.20 7.00 1.49 7.40 0.50 5.25 2.83 63.30 2.11 5.61 6.00 6.17 18.10
Close 862.64 Listed cap 54,792.74 mn Payout (%) 19.04
Volume
Change -5.49 Market cap 41,346.73 mn Div Yield (%) 5.15
Last 60 days High Low
Close Chg
Volume
Last 60 days High Low
2.65 50.60 2.63 16.49 9.49 1.65 1.90 24.97 2.10 4.23 7.00 1.59 7.92 0.52 5.91 2.95 66.48 2.23 5.76 6.71 6.51 18.66
63224 84453 500 9362 55256 9001 841295 3780536 5021 170738 1700 116913 1840 1312 13302 554221 1281078 174697 14444 601 215 5004
3.98 63.90 4.24 24.16 11.90 2.49 3.10 32.30 4.00 5.55 8.00 2.25 9.19 0.99 7.40 3.88 78.44 3.30 7.65 7.95 9.60 19.65
0.40 0.10 0.20 0.23 0.38 0.03 -0.01 0.66 0.20 0.06 0.25 0.11 0.16 0.05 0.29 0.13 3.16 0.09 0.02 0.71 0.00 0.20
2.15 48.50 1.65 14.72 8.00 1.50 1.50 21.20 1.70 3.97 6.30 1.30 4.70 0.25 5.11 2.65 59.55 1.92 5.17 5.52 5.13 16.20
2010 Div BR (%) (%) - 100R 50 - 122R - 20R 40 - 50R
% Change 3.28 5-Day High 862.64 5-Day Low 804.81 2011 Div BR (%) (%) -
20R 92R -
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 917.18 Turnover 159,364 P/E (x) 2.59 Company
Paid up Cap(mn)
Cherat Papersack XR ECOPACK Ltd Ghani Glass MACPAC Films Merit Pack Packages Ltd Tri-Pack Films SPOT
PE
Open
115 2.32 48.24 230 2.14 1067 5.30 50.99 389 1.67 5.15 47 16.17 29.72 844 - 114.91 300 8.43 137.17
High
High Low 934.65 900.46 Total cos Defaulter cos P/BV (x) ROE (%) 1.14 43.91 Low
Close Chg
50.65 48.50 50.57 2.45 2.04 2.25 51.50 50.60 51.00 6.15 6.15 6.15 30.00 29.10 29.11 118.70 109.91 115.88 140.00 135.50 139.05
2.33 0.11 0.01 1.00 -0.61 0.97 1.88
Close 924.04 Listed cap 3,043.31 mn Payout (%) 15.55
Volume 22197 24904 3568 29812 3520 62448 12913
Change 6.87 Market cap 35,613.70 mn Div Yield (%) 6.00
Last 60 days High Low 83.23 3.30 56.45 6.15 33.80 143.00 144.50
47.80 2.04 45.30 2.50 20.00 103.52 111.25
2010 Div BR (%) (%) 20 25 32.5 100
25B 10B -
% Change 0.75 5-Day High 924.04 5-Day Low 893.43 2011 Div BR (%) (%) -
50R -
Open 990.21 Turnover 20,618,276 P/E (x) 6.76 Paid up Cap(mn)
Amtex Limited Artistic Denim Azam Textile Azgard Nine Babri Cotton Bannu Woolen XD Bata (Pak) Bilal Fibres Brothers Textile Chenab Limited Chenab Ltd Pref Colony Mills Ltd Crescent Jute Crescent Textile D M Textile D S Ind Ltd Dawood Lawrencepur Dewan Mushtaq Textile Ellcot Spinning Gadoon Textile XD Globe Textile Gul Ahmed Textile Gulistan Spinning Gulshan Spinning Hira Textile Mills Ltd. Ibrahim Fibres ICC Textile Ideal Spinning Idrees Textile Janana D Mal Khalid Siraj Kohinoor Ind Kohinoor Spinning Kohinoor Textile Mohd Farooq Moonlite (PAK) Mukhtar Textile Nadeem Textile Nishat (Chunian) Nishat Mills Pak Synthetic Paramount Spinning Ravi Textile Reliance Cotton Reliance Weaving Rupali Poly Saif Textile Sally Textile Samin Textile Sana Ind Sargoda Spinning Service Ind Shahtaj Textile Suraj Cotton Tata Textile Thal Limited Treet Corp Yousuf Weaving Zahoor Cotton Zephyr Textile Ltd Zil Limited
2594 840 133 4493 33 76 76 141 98 1150 800 2442 238 492 31 600 514 34 110 234 164 635 146 222 716 3105 100 99 180 48 107 303 1300 1455 189 22 145 120 1614 3516 560 174 250 103 308 341 264 88 267 55 312 120 97 180 173 307 418 400 99 594 53
PE
Company Ados Pak AL-Ghazi Tractor Bolan Casting Ghandhara Ind KSB Pumps Millat Tractors
Paid up Cap(mn) 66 215 104 213 132 366
PE
Open
8.71 11.41 5.13 225.13 4.76 45.20 8.29 9.10 6.84 57.10 8.11 517.45
High
High Low 1,626.55 1,588.61 Total cos Defaulter cos P/BV (x) ROE (%) 3.12 38.02 Low
Close Chg
12.40 11.00 11.50 235.00 225.72 228.11 47.45 46.50 47.45 9.50 9.10 9.45 58.69 55.25 57.10 531.00 519.00 526.47
0.09 2.98 2.25 0.35 0.00 9.02
3608 5913 7610 39959 111 41725
159.00 15.40 107.00 1.50 170.11 21.00 3.05 3.71 9.52 218.00 60.00 18.80 1.30
100 60 20 150 5 10 -
20B - 50.00 20B 10.00 -
-
Close Chg 5.50 14.94 9.05 3.70 6.25 3.20 18.76 21.49 11.05 82.13 74.69 3.52 54.00 20.09 11.00 3.99 37.81 44.10 3.20 4.18 11.93 8.90 4.84
0.00 0.44 1.00 -0.07 -0.25 0.20 -0.39 0.19 -0.95 0.00 -0.21 -0.26 -0.41 0.00 0.00 0.00 -1.98 2.10 0.25 0.33 0.43 0.80 -0.39
Close 1,932.44 Listed cap 11,335.33 mn Payout (%) 30.57
Volume 1500 10740 3258 10003 10500 8430 552 33900 1000 249 4898 3940 2208 391 200 308 10001 3500 19000 7500 502 500 83565
Change 7.43 Market cap 280,834.11 mn Div Yield (%) 0.66
% Change 0.39 5-Day High 1,933.35 5-Day Low 1,894.61
Last 60 days High Low
2010 Div BR (%) (%)
7.20 20.50 13.90 5.70 7.15 5.59 21.73 36.50 12.95 90.00 92.50 7.18 75.50 27.24 14.00 6.99 51.50 47.05 4.00 4.75 15.01 13.00 7.08
25 10 25 25 25B 40 17.5 110R 7010B 12.5R 10 12 12 10 10 15 28R 10 15 10 -
4.51 13.55 8.00 2.40 5.05 2.52 17.25 20.25 11.05 68.60 68.00 2.65 43.00 20.02 9.00 3.00 36.11 39.14 2.06 2.50 11.00 8.00 4.10
2011 Div BR (%) (%) 10B -
Close Chg 6.09 13.11 21.64 14.86
-0.16 0.17 0.00 0.98
Close 1,026.27 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 577 185101 200 33729
Change 14.53 Market cap 4,925.71 mn Div Yield (%) 2.76
Last 60 days High Low
2010 Div BR (%) (%)
10.39 15.88 24.09 24.00
17.5
4.60 12.07 17.55 13.50
10B -
% Change 1.44 5-Day High 1,026.27 5-Day Low 995.47 2011 Div BR (%) (%) - 200R
High
High Low 1,011.59 980.40 Total cos Defaulter cos P/BV (x) ROE (%) 0.58 8.64 Low
Close Chg
2.83 2.65 2.79 0.06 21.30 19.60 20.47 -0.15 2.49 2.10 2.10 -0.02 9.60 8.87 9.53 0.64 15.80 15.00 15.65 0.85 16.90 15.75 15.92 -0.50 593.99 539.00 551.04-15.29 1.95 1.25 0.95 0.00 0.40 0.40 0.40 0.05 2.45 2.32 2.40 0.10 2.40 1.95 2.25 -0.70 2.63 2.30 2.60 0.47 1.00 0.73 1.00 -0.12 16.00 15.60 15.67 0.61 2.50 2.50 2.50 0.05 1.58 1.45 1.46 -0.04 45.40 42.00 42.18 -1.16 4.59 4.00 4.22 -0.26 26.50 26.00 26.35 0.36 86.11 83.50 86.10 4.09 10.00 10.00 10.00 0.00 36.70 35.50 36.56 0.00 9.15 8.80 9.11 0.11 10.84 10.05 10.69 -0.16 4.90 4.56 4.70 -0.11 49.80 45.50 49.18 1.54 1.55 1.03 1.03 -0.46 10.80 8.98 9.98 0.00 4.00 3.05 3.97 0.29 17.47 15.85 16.00 -0.49 1.24 1.00 1.01 -0.09 1.80 1.70 1.79 0.09 1.20 1.10 1.20 0.09 5.58 4.40 4.77 0.04 0.90 0.90 0.90 0.29 15.99 15.99 15.99 0.30 0.50 0.47 0.40 0.00 20.00 18.00 19.96 0.96 27.49 25.84 27.32 1.10 66.50 64.30 65.85 0.87 16.95 16.01 16.30 0.31 14.00 13.25 13.98 0.58 1.22 1.05 1.15 0.05 41.50 41.49 41.49 1.85 12.99 12.50 12.50 0.00 42.40 40.30 41.87 0.78 10.01 9.90 10.00 0.99 6.07 5.40 5.73 0.66 6.90 6.00 6.58 0.18 41.10 40.50 40.55 -0.45 3.60 3.60 3.57 0.00 210.99 204.00 207.88 5.17 22.00 22.00 22.00 0.00 39.00 39.00 39.00 0.50 40.50 40.00 40.00 0.32 117.40 113.90 115.79 2.01 50.10 48.50 49.46 0.85 1.45 1.30 1.33 -0.26 0.45 0.45 0.45 0.00 3.50 3.15 3.50 -0.40 69.00 66.00 67.05 -0.15
Close 990.13 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change -0.08 Market cap 135,440.94 mn Div Yield (%) 2.47
Last 60 days High Low
542820 4.69 1168 24.59 9388 3.00 7876056 12.84 43660 15.80 31040 16.90 2298 705.00 315 2.45 800 1.49 9924 3.76 144501 3.99 65113 2.97 10135 1.43 1105 23.99 1000 3.40 15967 2.10 77204 48.29 12252 8.90 3835 26.50 19722 86.11 500 11.00 300 36.79 24238 9.23 167405 10.85 156068 4.94 133762 55.00 1434 2.70 129 10.90 29534 4.00 8504 18.00 26473 1.29 57923 2.00 6002 1.74 1849 5.95 1999 2.08 1000 17.50 284 0.88 510 20.00 5711466 28.04 4597776 71.89 432170 16.95 38100 14.00 26687 1.98 510 43.30 8610 12.99 19098 42.70 48919 10.01 132014 6.07 8230 7.00 1067 49.66 400 4.45 2320 254.45 1000 22.05 500 41.95 1850 44.10 37563 132.00 55912 63.30 600 1.99 500 0.87 2050 4.50 6537 87.90
2010 Div BR (%) (%)
2.35 30 19.20 20 1.32 7.5 8.05 8.10 - 15B 12.76 20 493.50 280 0.95 0.13 2.05 1.72 2.00 0.32 15.00 15 1.99 1.20 35.00 5 2.90 18.90 35 49.00 70 10.00 24.50 12.5 5.02 10 6.30 10 20B 3.31 10 37.50 20 0.32 4.56 2.70 10 13.15 0.25 0.75 0.30 5 4.01 0.60 4.50 0.13 8.10 20 21.15 15 57.20 25 45R 7.00 8.50 10 10B 0.65 34.00 20 8.50 25SD 35.25 40 3.90 3.63 10 4.55 - 100R 39.05 60 1.55 5 186.00 17.50 45 33.00 50 31.52 25 100.51 80 20B 44.10 1.08 0.45 2.56 50.00 35 -
% Change -0.01 5-Day High 990.21 5-Day Low 972.14 2011 Div BR (%) (%) -
-
Performance of SR Pharma and Bio Tech Index
Change 25.99 Market cap 33,051.34 mn Div Yield (%) 16.02
Last 60 days High Low 18.20 244.95 48.63 13.50 70.50 568.40
205.00 43.26 143.80 2.89 217.44 26.74 5.36 5.49 12.87 309.73 74.80 24.00 2.45
2011 Div BR (%) (%)
PHARMA AND BIO TECH
Close 1,612.03 Listed cap 1,336.62 mn Payout (%) 131.49
Volume
Open
2.73 7.36 20.62 0.34 2.12 8.89 0.20 14.80 0.45 16.42 4.78 566.33 0.72 0.95 0.35 2.30 2.95 2.28 2.13 1.12 2.88 15.06 2.45 1.50 49.62 43.34 0.15 4.48 0.60 25.99 0.85 82.01 - 10.00 2.56 36.56 0.38 9.00 0.39 10.85 0.94 4.81 3.56 47.64 1.49 1.03 9.98 2.18 3.68 0.35 16.49 0.20 1.10 1.70 0.49 1.11 8.22 4.73 0.61 - 15.69 0.40 0.94 19.00 4.20 26.22 5.84 64.98 2.60 15.99 0.69 13.40 1.10 0.84 39.64 0.65 12.50 3.89 41.09 0.49 9.01 0.22 5.07 4.70 6.40 3.07 41.00 1.08 3.57 7.12 202.71 1.39 22.00 0.77 38.50 0.51 39.68 5.74 113.78 6.08 48.61 0.63 1.59 0.45 5.83 3.90 4.90 67.20
INDUSTRIAL ENGINEERING Performance of SR Industrial Engineering Index Open 1,586.04 Turnover 98,985 P/E (x) 8.21
12023 500 6439 92801 2779 1405 7767 1012 22040 15456 106174 808 3994
2010 Div BR (%) (%)
% Change -0.49 5-Day High 1,130.70 5-Day Low 1,102.93
Performance of SR Personal Goods Index
Company
Change 27.43 Market cap 62,917.43 mn Div Yield (%) 3.09
-
PERSONAL GOODS
CONSTRUCTION AND MATERIALS Open 835.22 Turnover 7,184,120 P/E (x) 6.17
-3.78 -1.65 -2.67 -0.06 -3.01 -0.05 0.06 -0.68 0.02 1.33 -1.54 0.53 0.00
High Low 1,033.22 989.22 Total cos Defaulter cos P/BV (x) ROE (%) 0.24 10.64
PE
-
Performance of SR Construction and Materials Index
-
11.00 215.00 42.90 8.25 54.27 466.27
2010 Div BR (%) (%) 400 25 650
Open 835.96 Turnover 53,299 P/E (x) 5.99
% Change 1.64 5-Day High 1,612.03 5-Day Low 1,518.97 2011 Div BR (%) (%)
10B 25B325.00
-
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
53.04
Total Assets (Rs in mn)
MA (10-day)
5.93
Total Equity (Rs in mn)
7,803.20
MA (100-day)
7.09
Revenue (Rs in mn)
95,310.27 9,337.28 6,602.78
MA (200-day)
6.90
Interest Expense
1st Support
5.70
Profit after Taxation
2nd Support
4.81
EPS 09 (Rs)
1st Resistance
7.09
Book value / share (Rs)
15.55
2nd Resistance
7.59
PE 10 E (x)
31.62
Pivot
6.20
PBV (x)
145.35 0.29
0.43
SNBL closed up 0.94 at 6.64. Volume was 269 per cent above average (trending) and Bollinger Bands were 41 per cent wider than normal. The company's profit after taxation stood at Rs125.44 million which translates into an Earning Per Share of Rs0.21 for the year ended CY10. SNBL is currently 3.8 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into SNBL (mildly bullish). Trend forecasting oscillators are currently bearish on SNBL.
Sally Textile Mills Limited
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
65.78
Total Assets (Rs in mn)
MA (10-day)
4.68
Total Equity (Rs in mn)
MA (100-day)
4.39
Revenue (Rs in mn)
1,206.03
MA (200-day)
3.95
Interest Expense
1st Support
5.43
Profit after Taxation
134.89
2nd Support
5.08
EPS 10 (Rs)
15.372
1st Resistance
6.10
Book value / share (Rs)
2nd Resistance
6.42
PE 11 E (x)
Pivot
5.75
PBV (x)
(51.77) 1,745.62 61.74
(5.90) 0.22 (0.97)
SLYT closed up 0.66 at 5.73. Volume was 745 per cent above average (trending) and Bollinger Bands were 45 per cent wider than normal. The company's profit after taxation stood at Rs115.441 million which translates into an Earning Per Share of Rs13.16 for the half year of current fiscal year (1HFY11). SLYT is currently 46.3 per cent above its 200-day moving average and is displaying an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into SLYT (bullish). Trend forecasting oscillators are currently bullish on SLYT.
Telecard Limited
HOUSEHOLD GOODS Open 1,011.74 Turnover 219,617 P/E (x) 2.27
2011 Div BR (%) (%)
- 10.00 - 15.00 20B -
2011 Div BR (%) (%)
Performance of SR Household Goods Index
-
% Change 0.82 5-Day High 1,020.45 5-Day Low 969.61
187.23 35.75 131.48 1.94 180.00 22.75 3.46 3.72 10.43 227.36 64.29 22.51 1.30
High Low 1,966.43 1,896.56 Total cos Defaulter cos P/BV (x) ROE (%) 14.10 30.30
PE
INDUSTRIAL METALS AND MINING High Low 1,033.71 995.34 Total cos Defaulter cos P/BV (x) ROE (%) 1.03 33.10
-
FOOD PRODUCERS
Performance of SR Industrial Metals and Mining Index Open 1,012.16 Turnover 87,553 P/E (x) 3.11
40 15
Performance of SR Food Producers Index
2011 Div BR (%) (%) -
2010 Div BR (%) (%)
Performance of SR Automobile and Parts Index
Company
High Low 1,705.31 1,633.51 Total cos Defaulter cos P/BV (x) ROE (%) 3.29 35.00
% Change -0.25 5-Day High 695.46 5-Day Low 668.51
AUTOMOBILE AND PARTS
Performance of SR Chemicals Index
Agritech Limited 3924 23.50 BOC (Pak) 250 9.04 Clariant Pak 273 6.95 Dawood Hercules 1203 14.40 Descon Chemical 1996 Descon Oxychem Ltd. 1020 8.83 Dewan Salman 3663 Engro Corporation Ltd 3277 12.45 Engro Polymer 6635 Fatima Fertilizer 22000 Fauji FertilizerXDXB 8482 7.71 Fauji Fert.Bin Qasim 9341 8.05 Gatron Ind 384 2.91 Ghani Gases Ltd 725 9.66 ICI Pakistan 1388 9.19 Ittehad Chemical 360 6.39 Leiner Gelatine 75 Lotte Pakistan 15142 5.88 Mandviwala 74 Nimir Ind Chemical 1106 27.10 Pak Gum 42 Shaffi Chemical 120 Sitara Chem Ind 214 8.19 Sitara Peroxide 551 5.56 United Distributors 92 Wah-Noble 90 5.65
Soneri Bank Limited
Performance of SR Industrial Transportation Index
Close Change 1,507.21 26.43 Listed cap Market cap 65,194.15 mn 1,129,865.96 mn Payout (%) Div Yield (%) 55.94 5.35
Attock Petroleum XD 691 6.57 Attock Refinery 853 4.79 BYCO Petroleum 3921 Mari Gas Company 735 7.55 National Refinery 800 6.13 Oil & Gas Development 43009 10.46 Pak Petroleum XD 11950 7.66 Pak Oilfields XD 2365 7.40 Pak Refinery Limited 350 P.S.O XD 1715 4.92 Shell Gas LPG 226 Shell Pakistan 685 10.24
Open 1,635.27 Turnover 57,986,554 P/E (x) 9.41
Alert ! Unusual Movements
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index Open 1,480.78 Turnover 9,590,871 P/E (x) 10.47
KSE 30 Index
Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline IBL HealthCare Ltd Sanofi-Aventis Searle Pak
Paid up Cap(mn) 979 250 1707 200 96 306
PE
Open
6.88 81.47 6.08 86.91 12.84 70.31 4.21 10.21 6.24 145.00 5.38 58.89
High
High Low 869.01 832.50 Total cos Defaulter cos P/BV (x) ROE (%) 1.34 22.31 Low
Close Chg
83.50 82.00 82.72 91.25 86.90 90.00 73.75 68.65 71.38 10.85 10.15 10.69 149.98 144.00 145.00 61.83 60.00 61.50
1.25 3.09 1.07 0.48 0.00 2.61
Close 852.21 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 4764 3962 3175 3051 137 38209
Change 16.25 Market cap 28,150.63 mn Div Yield (%) 7.44
Last 60 days High Low 112.50 98.00 89.98 11.00 174.00 69.00
78.59 83.50 68.00 7.16 126.00 58.50
2010 Div BR (%) (%) 50 100 30
% Change 1.94 5-Day High 852.21 5-Day Low 829.08 2011 Div BR (%) (%)
20B 12.50 -
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
55.76
Total Assets (Rs in mn)
MA (10-day)
1.94
Total Equity (Rs in mn)
3,400.99
MA (100-day)
2.23
Revenue (Rs in mn)
9,610.12 2,414.18
MA (200-day)
2.44
Interest Expense
530.45
1st Support
1.95
Profit after Taxation
698.46
2nd Support
1.84
EPS 10 (Rs)
2.328
1st Resistance
2.26
Book value / share (Rs)
11.34
2nd Resistance
2.46
PE 11 E (x)
1.39
Pivot
2.15
PBV (x)
0.19
TELE closed up 0.03 at 2.12. Volume was 478 per cent above average (trending) and Bollinger Bands were 35 per cent wider than normal. The company's profit after taxation stood at Rs226.904 million which translates into an Earning Per Share of Rs0.76 for the half year of current fiscal year (1HFY11). TELE is currently 13.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume into TELE (mildly bullish). Trend forecasting oscillators are currently bearish on TELE.
Pakistan Reinsurance Co Ltd
Fundamental Highlights As on Dec 31, 2009
Technical Analysis RSI (14-day)
56.82
Total Assets (Rs in mn)
MA (10-day)
15.42
Total Equity (Rs in mn)
6,785.66
MA (100-day)
16.19
Revenue (Rs in mn)
12,372.62 2,170.95
MA (200-day)
16.34
Interest Expense
1st Support
16.25
Profit after Taxation
2nd Support
15.40
EPS 09 (Rs)
1st Resistance
17.55
Book value / share (Rs)
22.62
2nd Resistance
18.00
PE 10 E (x)
44.33
Pivot
16.70
PBV (x)
0.00 269.91 0.90
0.76
PAKRI closed up 0.99 at 17.14. Volume was 114 per cent above average and Bollinger Bands were 88 per cent wider than normal. The company's profit after taxation stood at Rs88.468 million which translates into an Earning Per Share of Rs0.29 for the nine months of current calendar year (9MCY10). PAKRI is currently 4.9 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of PAKRI at a relatively equal pace. Trend forecasting oscillators are currently bearish on PAKRI.
BOOK CLOSURES Company
From
To
Picic Growth Fund Picic Invt Fund Picic Energy Fund Shabbir Tiles & Ceramics # Tariq Glass Bank Al-Habib Husein Industries # Crescent Steel Allied Bank Ltd Tri-Pack Films Kot Addu Power Shahtaj Sugar Mills # Biafo Industries Sazgar Engg Works Sazgar Engg Works # Atlas Honda # Fauji Fertiliser Bin Qasim Fauji Cement # Al-Noor Sugar Mills # Indus Motor Habib Bank
05-Mar 05-Mar 05-Mar 06-Mar 07-Mar 07-Mar 07-Mar 09-Mar 10-Mar 10-Mar 11-Mar 11-Mar 12-Mar 13-Mar 13-Mar 14-Mar 15-Mar 16-Mar 16-Mar 16-Mar 16-Mar
12-Mar 12-Mar 12-Mar 12-Mar 13-Mar 17-Mar 12-Mar 15-Mar 16-Mar 18-Mar 18-Mar 18-Mar 19-Mar 19-Mar 21-Mar 21-Mar 22-Mar 26-Mar 25-Mar 29-Mar
D/B/R
Spot AGM/Date
12.50(I) 25-02-2011 7.5(I) 25-02-2011 10(I) 25-02-2011 200(R) 25-02-2011 20(F),20(B) 25-02-2011 10(I) 01-Mar 20(F),10(B) 02-Mar 100(F) 02-Mar 30(I) 03-Mar 15(II) 04-Mar 10(I) 04-Mar 35(F) 07-Mar 50(I) 08-Mar -
12-Mar 17-Mar 12-Mar 16-Mar 18-Mar 22-Mar 19-Mar 21-Mar 21-Mar 22-Mar 25-Mar 29-Mar
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols Pakistan Cables TRG Pakistan Ltd. Murree Brewery Co. Shezan International Grays of Cambridge Pak Tobacco Shifa Int.Hospitals Media Times LtdXR P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 53.81 3.22 97 154.07 47.82 95.68 31 17.8 2.68 39.26 2.76 22.24
High 55.5 3.54 100 160 48 100 31.01 16.8 2.88 41.22 2.88 23.35
Low Close 52.13 3.15 93.5 146.37 48 91.01 31 16.8 2.62 38.01 2.7 22.15
54 3.47 94 155.46 48 98.01 31 16.8 2.71 41.2 2.86 23.35
Change 0.19 0.25 -3 1.39 0.18 2.33 0 -1 0.03 1.94 0.1 1.11
Vol 2711 6346156 441 25858 500 913 10000 1800 100917 2539 342229 1354150
7
Saturday, March 5, 2011
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 1,053.63 Turnover 9,626,370 P/E (x) 5.73 Paid up Cap(mn)
Company
Pak Datacom Pakistan Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 1,085.63 1,045.18 Total cos Defaulter cos P/BV (x) ROE (%) 0.74 12.84
PE
Open
High
Low
Close Chg
78 5.60 37740 12.11 3000 1.39 8606 6175 -
54.18 17.91 2.09 2.56 3.01
51.48 18.39 2.35 2.68 3.20
51.48 17.81 2.04 2.50 3.00
51.48 18.17 2.12 2.54 3.12
-2.70 0.26 0.03 -0.02 0.11
Close 1,066.41 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 1369 6039611 2828674 756716 312047
Change 12.78 Market cap 73,725.60 mn Div Yield (%) 10.92
% Change 1.21 5-Day High 1,066.41 5-Day Low 1,036.48
Last 60 days High Low
2010 Div BR (%) (%)
82.39 20.65 2.67 3.45 4.65
80 17.5 1 -
51.48 17.25 1.60 2.15 2.80
2011 Div BR (%) (%)
- 15.00 -
-
Ask Gen Insurance Atlas Insurance Central Insurance XB Century Insurance Crescent Star Insurance EFU General Insurance Habib Insurance IGI Insurance New Jub Insurance Pak Reinsurance Pak Gen Insurance PICIC Ins Ltd Premier Insurance Reliance Insurance XB Silver Star Insurance United Insurance XB
255 6.15 369 6.31 279 8.86 457 6.06 121 1250 400 3.13 718 8.59 791 10.56 3000 43.95 250 1.89 350 71.43 303 6.13 252 4.17 253 4.17 400 1.97
Paid up Cap(mn)
Genertech Hub Power Japan Power KESC Kohinoor Energy XD Kot Addu PowerSPOT Nishat Chunian Power Ltd Nishat Power Ltd Sitara Energy Ltd Southern Electric
198 11572 1560 7932 1695 8803 3673 3541 191 1367
High Low 1,381.06 1,340.73 Total cos Defaulter cos P/BV (x) ROE (%) 1.37 9.35
Close 1,353.66 Listed cap 95,369.29 mn Payout (%) 104.13
Change 11.67 Market cap 110,404.62 mn Div Yield (%) 7.13
Open
High
Low
Close Chg
Volume
Last 60 days High Low
7.32 7.17 5.73 3.07 2.40 5.37 -
0.70 39.56 1.55 2.73 16.63 43.98 15.24 16.60 17.38 1.70
0.79 40.75 1.65 2.89 16.78 44.99 15.77 16.80 17.60 1.75
0.70 39.65 1.52 2.72 16.35 43.80 15.11 16.31 16.75 1.65
0.75 0.05 39.94 0.38 1.62 0.07 2.74 0.01 16.50 -0.13 44.63 0.65 15.29 0.05 16.45 -0.15 17.60 0.22 1.73 0.03
10302 2385529 46102 1147046 792 760057 2658232 711275 1000 114577
1.18 41.20 2.10 3.55 22.85 45.85 18.01 18.70 19.35 2.80
0.56 35.90 1.25 2.31 16.00 39.80 14.05 14.85 16.40 1.41
% Change 0.87 5-Day High 1,353.66 5-Day Low 1,303.93
2010 Div BR (%) (%) 50 15 50 20 -
2011 Div BR (%) (%)
- 25.00 7.8R - 10.00 - 30.00 -
-
Open 693.71 Turnover 42,729 P/E (x) 5.33
Performance of SR Gas Water and Multiutilities Index
Company Sui North Gas Sui South Gas
PE
5491 12.35 8390 3.81
Open
High Low 1,482.82 1,424.03 Total cos Defaulter cos P/BV (x) ROE (%) 1.06 11.41
High
20.41 24.80
21.32 25.50
Low 20.20 24.77
Close Chg 21.00 0.59 25.28 0.48
Close 1,465.67 Listed cap 12,202.80 mn Payout (%) 66.79
Last 60 days High Low
Volume 198805 315248
29.39 27.90
19.71 19.95
% Change 2.37 5-Day High 1,465.67 5-Day Low 1,419.37
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
-
-
BANKS Performance of SR Banks Index Open 1,108.16 Turnover 38,785,879 P/E (x) 7.95 Paid up Cap(mn)
Company
PE
Open
Allied Bank Ltd.SPOT 7821 6.54 67.67 Askari Bank 6427 6.96 14.46 Bank Alfalah 13492 7.41 10.01 Bank AL-HabibXDXB 8786 5.73 27.96 Bank Of Khyber 5004 3.89 4.47 Bank Of Punjab 5288 7.23 BankIslami Pak 5280 932.50 3.59 Faysal Bank 7327 4.46 12.84 Habib Bank Ltd 10019 8.07 123.00 Habib Metropolitan Bank 8732 7.16 23.25 JS Bank Ltd 8150 3.10 KASB Bank Ltd 9509 1.49 MCB Bank Ltd 7602 9.75 213.32 Meezan Bank 6983 8.05 18.10 Mybank Ltd 5304 2.07 National Bank 13455 7.04 78.91 NIB Bank 40437 2.22 Samba Bank 14335 1.73 Silkbank Ltd 26716 2.30 Soneri Bank 6023 31.62 5.70 Stand Chart Bank 38716 8.32 6.90 Summit Bank Ltd 7251 3.00 United Bank Ltd 12242 7.77 63.66
High
High Low Close 1,151.96 1,094.38 1,134.51 Total cos Defaulter cos Listed cap - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.11 13.94 40.49 Low
Close Chg
70.00 66.50 69.35 1.68 14.90 14.22 14.62 0.16 10.70 9.03 10.00 -0.01 28.50 27.22 28.19 0.23 4.65 4.35 4.40 -0.07 7.60 7.15 7.43 0.20 3.96 3.50 3.73 0.14 13.84 12.50 13.84 1.00 129.15 122.00 129.14 6.14 24.00 23.05 23.41 0.16 3.12 3.01 3.03 -0.07 1.55 1.47 1.51 0.02 219.40 212.50 216.48 3.16 19.00 18.10 18.99 0.89 2.30 2.10 2.21 0.14 81.78 78.27 80.57 1.66 2.30 2.17 2.23 0.01 1.89 1.71 1.83 0.10 2.37 2.29 2.31 0.01 6.70 5.31 6.64 0.94 7.90 7.20 7.90 1.00 3.15 2.90 3.01 0.01 66.80 63.16 66.12 2.46
Last 60 days High Low
Volume 246324 834827 14050139 342569 50961 3254389 127118 343116 756419 207403 78860 46808 1830120 195528 278302 11919326 1276734 128985 788036 718456 36250 100830 1275196
Change 26.34 Market cap 697,049.56 mn Div Yield (%) 5.09
74.00 19.25 11.99 39.49 4.70 10.33 4.50 16.47 129.15 29.28 3.16 2.80 250.48 20.30 3.40 81.78 3.35 2.17 3.05 8.48 9.04 4.63 70.65
61.05 12.55 8.75 27.22 3.75 6.40 3.00 10.69 112.99 22.50 2.30 1.40 195.55 15.30 2.00 66.01 1.90 1.50 2.06 5.00 6.28 2.85 56.89
% Change 2.38 5-Day High 1,134.51 5-Day Low 1,048.14
2010 Div BR (%) (%) 40 10B - 10B 20 20B - 20B 65 10B - 20B - 66R 85 10B - 15B 75 25B -154.79R -63.46R 6 50 -
-
-
Performance of SR Non Life Insurance Index
Paid up Cap(mn)
Company Adamjee Insurance
10 30 35 -
25R 20B 10B 55B 25B -
-
UPTO 100 VOLUME
-
Symbols
High Low 763.71 728.94 Total cos Defaulter cos P/BV (x) ROE (%) 0.65 5.20
Open
Close 756.56 Listed cap 11,111.34 mn Payout (%) 79.54
Change 22.49 Market cap 47,573.74 mn Div Yield (%) 6.39
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1237 23.82
79.15
83.10
78.80
82.19 3.04
670516
96.40
71.55
% Change 3.06 5-Day High 756.56 5-Day Low 700.09
2010 Div BR (%) (%) 10
2011 Div BR (%) (%)
-
-
-
PE
Open
High Low 724.55 685.44 Total cos Defaulter cos P/BV (x) ROE (%) 3.07 3.85
High
Low
Close Chg
Close 716.40 Listed cap 2,290.72 mn Payout (%) 355.53
Change 22.69 Market cap 8,475.17 mn Div Yield (%) 4.46
Last 60 days High Low
Volume
% Change 3.27 5-Day High 716.40 5-Day Low 686.65
2010 Div BR (%) (%)
Low
Close
Change
Vol
2.50
1.95
1.95
2.50
0.00
100
GLPL
55.99
57.99
57.98
55.99
0.00
100
HAJT
1.05
1.05
1.05
1.05
0.00
100
JOPP
10.55
10.99
10.99
10.55
0.00
100
FECM
2.75
2.98
2.98
2.75
0.00
IDYM
273.91
280.00
260.22
273.91
0.00
62
PRWM
14.01
14.30
14.25
14.01
0.00
58
HINO
128.00
122.00
121.60
128.00
0.00
54
QUET
41.03
43.08
43.08
41.03
0.00
50
TRSM
1.99
2.00
2.00
1.99
0.00
48
RMPL
2612.46
2743.00
2500.00
2720.02
107.56
43
ULEVER
4608.41
4790.00
4630.00
4700.03
91.62
33
SHTM
0.37
0.26
0.15
0.37
0.00
30
LATM
6.50
7.50
6.00
6.50
0.00
22
3466.13
3500.00
3340.00
3410.21
-55.92
20
AGIL
72.50
72.95
70.50
72.50
0.00
17
ALICO
15.02
15.02
68
16.00
14.04
0.00
13
1.41
1.94
1.92
1.41
0.00
13
DCM
1.29
1.35
1.34
1.29
0.00
11
DIIL
10.00
9.90
9.90
10.00
0.00
10
ELCM
3.50
4.50
4.00
4.00
0.50
10
FFLM
1.30
1.74
1.70
1.30
0.00
10 10
NMBL
2011 Div BR (%) (%)
High
CPMFI
GUTM
19.35
20.00
20.00
19.35
0.00
EFU Life Assurance
850 31.99
53.63
56.31
53.01
56.31 2.68
38505
82.99
51.31
-
-
-
-
LEUL
2.10
3.10
3.10
2.10
0.00
627 19.35
44.99
45.90
44.50
45.29 0.30
4210
49.31
39.05
15
-
-
-
SANE
4.03
4.25
4.25
4.03
0.00
10
SHNI
10.39
11.10
11.10
10.39
0.00
10
SZTM
6.99
7.98
7.98
6.99
0.00
10
TRPOL
0.59
0.99
0.99
0.59
0.00
10
TSMF
0.81
1.50
1.50
0.81
0.00
10
TSPL
0.56
0.80
0.80
0.56
0.00
10
BWHL
35.59
33.82
33.82
35.59
0.00
5
DFSM
4.20
3.20
3.20
4.20
0.00
5
BUXL
9.00
10.00
8.26
9.00
0.00
COLG
859.90
895.00
830.00
859.90
0.00
4
DWAE
1.10
1.28
1.11
1.10
0.00
4
KOHP
3.95
4.95
3.98
3.95
0.00
3
MTIL
0.36
0.47
0.33
0.36
0.00
3
SIBL
3.01
3.88
3.24
3.01
0.00
TSBL
4.90
5.85
5.80
4.90
0.00
BAFS
58.00
55.10
55.10
58.00
0.00
2
BWCL
12.67
13.59
11.67
12.67
0.00
2
FECS
36.91
35.07
35.07
36.91
0.00
2
FINANCIAL SERVICES Performance of SR Financial Services Index Open 347.06 Turnover 9,299,755 P/E (x) 11.56 Paid up Cap(mn)
PE
AMZ Ventures 225 1.70 Arif Habib Investments 360 4.05 Arif Habib Limited 450 16.54 Arif Habib Corp 3750 4.23 Dawood Equities 250 533.33 Escorts Bank 441 First Credit & Invest Bank Ltd 650 Grays Leasing 215 IGI Investment Bank 2121 9.55 Invest and Fin Sec 600 4.84 Invest Bank 2849 Ist Cap Securities 3166 Ist Dawood Bank 626 0.86 Jah Siddiq Co 7633 JOV and CO 508 885.00 JS Global Cap 500 6.64 JS Investment 1000 KASB Securities 1000 Orix Leasing 821 4.31 Pervez Ahmed Sec 775 4.02 Stand Chart Leasing 978 3.58 Trust Inv Bank 586 0.56
Open 0.60 22.82 19.18 20.63 1.68 2.01 3.05 3.25 2.00 6.00 0.52 3.12 1.61 9.32 3.40 22.00 5.75 4.40 5.67 1.98 2.28 1.99
High Low 373.96 347.71 Total cos Defaulter cos P/BV (x) ROE (%) 0.23 0.91
High 0.93 23.96 20.18 21.66 1.90 2.50 3.25 3.00 2.29 6.95 0.70 3.37 1.63 10.05 3.78 23.10 6.02 4.97 6.25 2.05 3.00 2.00
Low
Close Chg
0.67 22.52 18.65 20.60 1.56 2.39 3.00 2.25 2.10 6.00 0.54 3.06 1.62 9.35 3.41 22.50 5.75 4.30 5.61 1.85 2.65 1.54
0.75 23.80 20.18 21.66 1.60 2.39 3.25 3.00 2.10 6.00 0.70 3.24 1.63 9.75 3.54 23.10 5.77 4.48 6.21 1.93 2.65 1.99
0.15 0.98 1.00 1.03 -0.08 0.38 0.20 -0.25 0.10 0.00 0.18 0.12 0.02 0.43 0.14 1.10 0.02 0.08 0.54 -0.05 0.37 0.00
Close 361.58 Listed cap 30,336.44 mn Payout (%) 99.56
Change 14.51 Market cap 16,996.30 mn Div Yield (%) 3.92
Last 60 days High Low
Volume 721042 28810 133368 3942687 5001 501 30148 26032 989 3505 51921 82602 6149 7296442 246231 12132 215064 2530 1049 410353 15010 41007
0.95 24.85 28.00 30.20 2.75 3.80 4.00 3.50 3.90 8.98 1.09 3.95 2.04 12.85 4.49 31.50 7.40 5.43 7.19 2.50 3.00 2.00
0.33 16.80 18.31 18.75 1.06 1.55 2.15 0.43 1.90 5.65 0.31 2.95 1.05 8.01 2.58 20.80 5.10 3.75 5.25 1.21 1.67 0.61
% Change 4.18 5-Day High 361.58 5-Day Low 336.70
2010 Div BR (%) (%) 30 11.5 10 -
2011 Div BR (%) (%)
20B 20B 10B -
-
-
Open 1,442.08 Turnover 3,098,098 P/E (x) 17.58 Company
Paid up Cap(mn)
High Low 1,502.33 1,436.24 Total cos Defaulter cos P/BV (x) ROE (%) 0.39 2.21
PE
Open
High
Low
AL-Meezan Mutual Fund 1375 4.04 AL-Noor Modaraba 210 2.01 Atlas Fund of Funds 525 1.65 B F Modaraba 75 1.23 B R R Guardian Modaraba780 1.52 Constellation Modaraba 65 1.62 Crescent St Modaraba 200 1.16 Equity Modaraba 524 1.05 First Dawood Mutual Fund581 0.72 Golden Arrow 760 1.55 H B L Modaraba 397 3.48 Imrooz Modaraba 30 14.96 JS Growth Fund 3180 2.42 JS Value Fund 1186 1.33 KASB Modaraba 283 1.89 Meezan Balanced Fund 1200 2.53 Mod Al-Mali 184 12.00 Pak Modaraba 125 1.67 PICIC Energy Fund XD 1000 3.11 PICIC Growth Fund XD 2835 3.90 PICIC Inv Fund XD 2841 3.18 Punjab Modaraba 340 Safeway Mutual Fund 545 1.15 Stand Chart Modaraba 454 5.05 Tri-Star 1st Modaraba 212 30.00
9.81 3.30 5.22 4.32 1.55 1.39 0.64 1.80 2.14 3.36 7.10 63.00 5.99 5.35 3.03 8.70 1.15 0.90 7.42 12.46 5.75 1.24 6.54 9.51 1.20
10.35 3.45 6.22 4.20 1.59 1.47 0.73 1.96 2.38 3.45 7.10 59.85 6.43 5.60 3.03 9.15 1.60 1.08 7.65 13.09 6.10 1.24 6.02 9.90 2.20
9.99 3.05 6.14 4.10 1.40 0.90 0.50 1.71 2.00 3.30 7.10 59.85 5.90 5.10 3.03 8.62 1.18 0.99 7.20 12.60 5.60 1.20 6.02 9.89 1.45
Close 1,474.14 Listed cap 29,771.58 mn Payout (%) 104.74
Close Chg
Volume
Last 60 days High Low
2010 Div BR (%) (%)
10.01 3.45 6.21 4.32 1.40 1.20 0.51 1.72 2.09 3.37 7.10 59.85 6.30 5.52 3.03 8.81 1.20 0.90 7.52 13.01 5.86 1.24 6.02 9.90 1.20
736502 5000 25700 101 5642 522 98315 706 47221 87013 11008 500 1469646 108388 40000 48002 2029 302 9297 348677 50144 1016 1000 1019 110
11.50 3.50 6.97 4.32 2.79 1.99 0.87 2.98 2.57 3.89 9.00 65.60 6.43 6.61 3.50 10.24 2.50 2.00 8.83 16.49 7.95 2.38 9.00 10.63 2.25
18.5 5 2.2 0 1.2 17 11 76 5 10 2.8 15.5 3 10 20 10 1 18.2 17 -
0.20 0.15 0.99 0.00 -0.15 -0.19 -0.13 -0.08 -0.05 0.01 0.00 -3.15 0.31 0.17 0.00 0.11 0.05 0.00 0.10 0.55 0.11 0.00 -0.52 0.39 0.00
7.03 2.76 3.84 3.21 1.12 0.90 0.16 1.30 1.61 2.92 6.60 54.00 4.55 4.15 1.26 6.25 1.10 0.46 6.20 10.52 5.38 0.85 5.01 8.62 0.61
% Change 2.22 5-Day High 1,474.14 5-Day Low 1,374.30
2.20
1.15
2.00
0.00
2
424.99
399.99
409.93
0.00
2
LAKST
252.08
262.00
257.00
252.08
0.00
2
MRNS
51.82
51.10
51.10
51.82
0.00
SHCM
13.90
12.90
12.90
13.90
0.00
SIEM
977.00
975.06
975.06
977.00
0.00
2
UPFL
1197.58
1139.10
1138.00
1197.58
0.00
2
BAPL
7.21
8.21
8.21
7.21
0.00
1
BHAT
259.00
265.00
265.00
259.00
0.00
1
DYNO
10.82
11.00
11.00
10.82
0.00
1
1.95
2.45
2.45
2 2
1.95
0.00
1
1.62
1.50
1.50
1.62
0.00
1
25.56
26.53
26.53
25.56
0.00
1
KOHS
3.40
4.00
4.00
3.40
0.00
1
KOHTM
1.00
1.59
1.59
1.00
0.00
1
139.85
139.99
139.99
139.85
0.00
1
1.00
1.10
1.10
1.00
0.00
1
PMI
FUTURE CONTRACTS Symbols
Open
NBP-MAR
2011 Div BR (%) (%)
- 5.00 10B - 10.00 - 12.50 - 7.50 -
3
2.00
PECO
Change 32.06 Market cap 18,964.82 mn Div Yield (%) 9.26
3
409.93
FIBLM
Performance of SR Equity Investment Instruments Index
4
FZTM
EWLA
EQUITY INVESTMENT INSTRUMENTS
10
FRCL
HINOON
2011 Div BR (%) (%)
NON LIFE INSURANCE Open 734.07 Turnover 2,518,392 P/E (x) 12.45
9.51 35.47 58.11 8.90 3.11 32.25 11.72 86.10 56.00 13.80 6.33 6.01 10.10 6.20 6.01 5.12
New Jub Life Insurance
Company
Change 33.96 Market cap 32,740.32 mn Div Yield (%) 7.15
Paid up Cap(mn)
Company
GAS WATER AND MULTIUTILITIES
Paid up Cap(mn)
1001 12.00 29164 42.90 3561 83.00 14916 11.99 101 6.30 132245 46.44 13509 15.50 11687 102.44 33546 61.80 1584392 19.40 1349 9.95 1247 11.00 13565 12.93 5200 7.15 2003 8.20 380 7.80
NESTLE
PE
Open 1,431.71 Turnover 514,053 P/E (x) 9.34
10.14 10.14 -0.75 40.50 41.45 -0.66 73.10 77.98 2.31 9.26 9.69 0.41 4.00 4.24 0.00 34.00 35.84 1.70 13.00 13.14 0.04 99.50 100.00 1.18 59.52 60.06 0.16 15.85 17.14 0.99 7.91 7.98 -0.90 10.00 10.00 -0.04 10.80 11.34 0.44 6.51 6.80 0.30 6.70 6.71 -0.27 5.80 6.01 0.00
Performance of SR Life Insurance Index
Performance of SR Electricity Index
Company
10.99 42.40 79.33 9.95 4.44 35.84 13.49 100.90 60.40 17.15 8.01 10.00 11.89 6.80 7.51 6.50
LIFE INSURANCE
ELECTRICITY Open 1,341.99 Turnover 7,834,925 P/E (x) 14.60
10.89 42.11 75.67 9.28 4.24 34.14 13.10 98.82 59.90 16.15 8.88 10.04 10.90 6.50 6.98 6.01
-
High
78.87
Low
82.00
78.25
Close
Change
Vol
80.90
2.03 1878500
ANL-MAR
8.91
9.70
8.86
9.61
0.70 1276000
POL-MAR
317.18
326.98
315.00
321.86
4.68 1019000
ENGRO-MAR 180.35
189.36
180.72
189.02
8.67
948500
FFBL-MAR
38.34
40.00
38.60
39.70
1.36
664500
NML-MAR
65.17
66.60
64.30
65.87
0.70
578500
DGKC-MAR
24.06
24.95
24.21
24.75
0.69
513500
120.19
126.19
120.25
125.81
5.62
444000
FFC-MAR MCB-MAR
193.10
198.99
191.10
196.24
3.14
327000
PPL-MAR
208.13
213.00
207.25
210.42
2.29
204000
PSO-MAR
283.13
294.50
283.00
292.17
9.04
196000
BOP-MAR
7.25
7.69
7.38
7.51
0.26
182500
AICL-MAR
79.45
83.39
79.00
82.68
3.23
98000
NCL-MAR
26.15
27.10
25.65
26.96
0.81
85000
PTC-MAR
18.03
18.55
18.25
18.30
0.27
62000
NETSOL-MAR 22.36
23.47
22.77
23.47
1.11
52000
OGDC-MAR 151.44
154.90
151.40
154.53
3.09
44000
LUCK-MAR
63.62
66.80
63.99
66.80
3.18
34000
UBL-MAR
63.60
66.78
64.00
66.54
2.94
10000
HUBC-MAR
39.58
40.60
ABL-CMAY
70.36
AICL-CAPR
40.10
40.10
0.52
2000
0.00
0.00
72.08
1.72
0.00
81.25
0.00
0.00
84.33
3.08
0.00
AICL-CFEBW579.15
0.00
0.00
82.15
3.00
0.00
AICL-CMAR
0.00
0.00
82.97
3.03
79.94
0.00
ZERO VOLUME Symbols
Open
SASML
8.00
UNIM
0.05
High
Low
Close
Change
8.00
8.00
8.00
0.00
0.05
0.05
0.05
0.00
Vol 0.00 0.00
BOARD MEETINGS
Fauji Fertiliser Bin Qasim Ltd
KSE 100 INDEX
National Bank of Pakistan
Bank Al-Falah Ltd
Company
Date
Time
JS Bank Ltd Dandot Cement Comp Ltd Bankislami Pakistan Ltd AMZ Ventures Ltd Glaxosmithkline Pakistan Ltd East West Life Assurance East West Insur Co Ltd
05-Mar 05-Mar 07-Mar 07-Mar 07-Mar 08-Mar 08-Mar
11:30 3:30 4:00 4:00 11:00 3:00 2:00
TECHNICAL LEVELS Company Al-Abbas Cement
Technical Outlook Technical Analysis RSI (14-day) MA (5-day) MA (10-day)
Brokerage House
Leverage Position
53.05
Support 1
11,799.30
11,671.77
Support 2
11,598.60
Fair Value
*Invest Cap
39
AKD Securities Ltd TFD Research
45.52 44.25
Brokerage House
Hold
*Invest Cap
Accumulate
AKD Securities Ltd
Neutral
11,625.91
Resistance 1
12,143.65
11,559.75
Resistance 2
12,287.30
Technical Analysis
MA (200-day)
10,714.23
Pivot
11,942.95
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Rs Recommendations
11.5 14.01
Brokerage House
Free Float Shares (mn) 326.94 Free Float Rs (mn) 13,957.00 ** NOI Rs (mn) 31.74 Mean 42.05
52.4
Sell
Accumulate
AKD Securities Ltd
75.5
Reduce
TFD Research
* Target price for Jun-11 & **Net Open Interest in future market
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
92.3
Positive
Technical Outlook
Leverage Position
42.80 9.73 10.32 9.61
Rs Recommendations
*Invest Cap
Positive
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Fair Value
Hold
Technical Outlook
Leverage Position
65.54 40.58 36.36 32.03
Fair Value 11.55
TFD Research
Technical Outlook
MA (100-day)
KSE 100 INDEX closed up 238.03 points at 12,000.03. Volume was 55 per cent above average and Bollinger Bands were 63 per cent wider than normal. As far as resistance level is concern, the market will see major 1st resistance level at 12,143.65 and 2nd resistance level at 12,287.30, while Index will continue to find its 1st support level at 11,799.30 and 2nd support level at 11,598.60. KSE 100 INDEX is currently 12.0 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently bearish on INDEX.
Rs Recommendations
674.58 6,745.78 N/A 9.94
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
318.50 25,661.37 131.57 79.88
* Target price for Jun-11 & **Net Open Interest in future market
67.25
65.10
70.75
72.10
68.60
Attock Cement
30.20
49.75
48.90
51.70
52.85
50.85
Arif Habib Corp
42.37
20.95
20.25
22.00
22.35
21.30
Arif Habib Limited
34.03
19.15
18.15
20.70
21.20
19.65
Adamjee Insurance
47.80
79.60
77.05
83.90
85.65
81.35
Askari Bank
41.46
14.25
13.90
14.95
15.25
14.60
Azgard Nine
45.63
9.05
8.60
9.80
10.05
Attock Petroleum
51.55
355.25
346.65
369.15 374.55 360.60
Attock Refinery
51.53
113.50
109.30
119.80 121.85 115.60
Bank Al-Falah
42.87
9.10
8.25
Bank.Of.Punjab
AKD Securities Ltd
6.95
3.95 7.65
4.20 7.85
3.75 7.40
1.70
2.00
2.15
1.90
24.10
25.40
25.85
24.95
Dewan Salman
56.52
2.90
2.80
3.05
3.10
2.95
Dost Steels Ltd
41.79
2.05
1.90
2.20
2.30
2.10
34.60
33.40
36.45
37.05
35.25
39.58
54.10
51.90
57.40
58.50
55.20
Engro Chemical
64.55
219.00
211.45
Faysal Bank
55.35
12.95
12.05
Fauji Cement
36.39
4.15
4.10
displaying a downward trend. Volatility is extremely high when compared displaying a downward trend. Volatility is extremely high when compared displaying a downward trend. Volatility is extremely high when compared
Fauji Fert Bin
65.40
41.65
40.60
to the average volatility over the last 10 trading sessions. Volume indica- to the average volatility over the last 10 trading sessions. Volume indica- to the average volatility over the last 10 trading sessions. Volume indica-
Fauji Fertilizer
42.28
121.70
118.15
127.30 129.35 123.75
tors reflect volume flowing into and out of FFBL at a relatively equal pace. tors reflect moderate flows of volume out of BAFL (mildly bearish). Trend tors reflect moderate flows of volume into NBP (mildly bullish). Trend fore-
Habib Bank Ltd
65.85
124.35
119.60
131.50 133.90 126.75
Trend forecasting oscillators are currently bearish on FFBL.
forecasting oscillators are currently bearish on BAFL.
Fauji Fertiliser Co
casting oscillators are currently bearish on NBP.
Hub Power
Brokerage House
Fair Value
Rs Recommendations
149
Brokerage House
Fair Value
Rs Recommendations
Brokerage House
*Invest Cap
Hold
*Invest Cap
Hold
*Invest Cap
Buy
AKD Securities Ltd
120.7
Neutral
AKD Securities Ltd
229.9
Neutral
AKD Securities Ltd
Positive
TFD Research
139.5
Positive
TFD Research
245.4
Neutral
TFD Research
Technical Outlook
Technical Outlook
210
Fair Value 77 71.45 78.6
Rs Recommendations Buy
14.30
14.75
13.40
4.30
4.40
4.25
43.35
44.00
42.30
61.87
39.45
39.00
67.51
159.35
157.75
163.20 165.55 161.65
19.09
223.40
219.45
233.15 238.95 229.20
3.40
3.20
55.85
1.55
1.45
64.05
3.00
2.95
3.10
3.15
44.21
9.40
9.00
10.10
10.40
9.70
Kot Addu Power
61.60
43.95
43.30
45.15
45.65
44.45
K.E.S.C
52.07
2.65
2.60
2.85
2.95
2.80
Lotte Pakistan
56.33
16.20
16.45
16.00
Lucky Cement
46.90
64.35
62.25
67.55
68.60
65.40
MCB Bank Ltd
50.16
212.85
209.25
Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co
34.69 65.74
15.80
2.10 78.65
15.55
2.00 76.70
40.55
3.75 1.70
41.20
3.95 1.75
40.10
3.60 1.60 3.05
219.75 223.05 216.15 2.35 82.15
2.45 83.70
2.20 80.20
Nishat (Chunian)
63.60
26.25
25.25
27.90
28.55
26.90
Netsol Technologies
53.46
22.55
21.75
23.75
24.15
22.95
NIB Bank
32.15
2.15 2.65
2.10
Nimir Ind.Chemical
60.74
Accumulate
Nishat Mills
57.75
64.60
63.35
Positive
Oil & Gas Dev. XD
38.79
152.10
149.50
PACE (Pakistan) Ltd.
49.38
2.75
2.65
Technical Outlook
Technical Outlook
230.60 234.65 223.05
51.23
ICI Pakistan
Nishat Mills Ltd
Engro Corporation
Buy
25.8
3.25
1.80 24.55
EFU Life Assurance
25
TFD Research
7.20
50.63 44.00
EFU General Insurance 41.33
23.91
*Invest Cap
3.50
9.35
9.90
D.G.K.Cement
National Bank
Rs Recommendations
42.08
11.60
Dewan Cement
Maple Leaf Cement
Fair Value
54.58
10.80
FFBL closed up 1.45 at 42.69. Volume was 163 per cent above average BAFL closed down -0.01 at 10.00. Volume was 380 per cent above aver- NBP closed up 1.66 at 80.57. Volume was 146 per cent above average (trending) and Bollinger Bands were 29 per cent narrower than normal. age (trending) and Bollinger Bands were 105 per cent wider than normal. and Bollinger Bands were 108 per cent wider than normal. FFBL is currently 33.3 per cent above its 200-day moving average and is BAFL is currently 4.1 per cent above its 200-day moving average and is NBP is currently 17.8 per cent above its 200-day moving average and is
Pakistan Telecommunication Co Ltd
Brokerage House
1st 2nd Pivot Resistance 2.95 3.25 2.65
54.78
BankIslami Pak
Leverage Position
65.95 72.36 71.34 68.39
RSI 1st 2nd (14-day) Support 46.06 2.35 2.00
Allied Bank Limited
2.35
2.25
2.85
3.00
2.75
67.75
65.55
2.90
3.00
2.80
52.00
P.I.A.C.(A)
55.00
Pioneer Cement
38.51
5.60
5.40
Pak Oilfields
56.86
314.90
308.60
327.20 333.20 320.90
Pak Petroleum
52.96
207.00
204.50
212.50 215.50 210.00
Pak Suzuki
47.53
62.90
61.55
P.S.O. XD
56.74
283.85
277.10
P.T.C.L.A
44.90
17.85
17.55
Shell Pakistan
41.94
192.90
186.20
Sui North Gas
30.56
20.35
19.70
21.50
21.95
20.85
PTC is currently 4.2 per cent below its 200-day moving average and is dis- FFC is currently 8.5 per cent above its 200-day moving average and is dis- ENGRO is currently 20.8 per cent above its 200-day moving average and NML is currently 23.4 per cent above its 200-day moving average and is
Sitara Peroxide
46.42
12.65
12.40
13.20
13.50
12.95
playing a downward trend. Volatility is high as compared to the average playing a downward trend. Volatility is extremely high when compared to is displaying a downward trend. Volatility is extremely high when compared displaying a downward trend. Volatility is extremely high when compared
Sui South Gas
57.23
24.85
24.45
25.60
25.90
25.20
Telecard
55.79
2.00
1.85
2.30
2.50
TRG Pakistan
60.63
3.25
3.00
3.65
3.80
3.40
United Bank Ltd
58.78
63.90
61.70
67.55
69.00
65.35
WorldCall Tele
48.91
2.45
2.40
2.65
2.75
2.55
45.04 18.16 19.10 18.98
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
585.02 10,629.88 5.16 18.07
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
42.09 119.85 124.63 115.49
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
466.49 58,427.54 51.55 122.77
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
64.71 213.04 195.82 187.61
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
147.48 33,414.90 128.45 221.37
* Target price for Jun-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
57.97 61.66 60.31 53.35
Leverage Position Free Float Shares (mn) Free Float Rs (mn) ** NOI Rs (mn) Mean
175.80 11,576.42 51.22 65.41
* Target price for Jun-11 & **Net Open Interest in future market
PTC closed up 0.26 at 18.17. Volume was 187 per cent above average FFC closed up 5.43 at 125.25. Volume was 171 per cent above average ENGRO closed up 10.28 at 226.57. Volume was 116 per cent above aver- NML closed up 0.87 at 65.85. Volume was 1 per cent below average and (trending) and Bollinger Bands were 41 per cent wider than normal.
(trending) and Bollinger Bands were 258 per cent wider than normal.
age and Bollinger Bands were 29 per cent wider than normal.
Bollinger Bands were 18 per cent wider than normal.
volatility over the last 10 trading sessions. Volume indicators reflect volume the average volatility over the last 10 trading sessions. Volume indicators to the average volatility over the last 10 trading sessions. Volume indica- to the average volatility over the last 10 trading sessions. Volume indicaflowing into and out of PTC at a relatively equal pace. Trend forecasting reflect volume flowing into and out of FFC at a relatively equal pace. Trend tors reflect moderate flows of volume into ENGRO (mildly bullish). Trend tors reflect volume flowing into and out of NML at a relatively equal pace. oscillators are currently bearish on PTC.
forecasting oscillators are currently bearish on FFC.
forecasting oscillators are currently bearish on ENGRO.
Trend forecasting oscillators are currently bearish on NML.
2.60
1.75
2.30 66.80
156.55 158.50 154.00
Pervez Ahmed Sec
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
1.85
2.55
2.50
2.05
2.15
1.95
2.85
3.00
2.75
5.95
6.20
66.30
68.35
5.80
64.95
295.95 301.25 289.20 18.45
18.70
18.10
206.15 212.65 199.40
2.15
8
Saturday, March 5, 2011
Kareena says I’ve always been exclusive
A
ccording to the latest Television Audience Measurement reports Kareena Kapoor - Bollywood's leading actress officially emerged the most sought after actress in the brand endorsement circuit. With a whopping 13 brands riding on her, Kareena Kapoor - the only actress to stand exclusive in a male dominated industry, remains unmoved with labels of being "the best" or "the most sought after". Says Kareena "I don't put a value to my worth. I'm not a product you can pick off the shelf. I have always been selective about what I endorse and the work I do. And I have always been exclusive." With an impressive line-up of brands, Kareena Kapoor has never been the one to rush onto the endorsement bandwagon and has always stood for brands she believes in. "There's a lot of thought and deliberation that goes into all my work. I endorse what I believe in. It has to be aspirational, Gen-X, go-getter...brands that signify the right mix of style and substance. Just like the youth in India today. Upwardly mobile in their attitude but firmly rooted and have the right value systems in place," adds Kareena. After pioneering the trend of Size-Zero in India and even hav-
CALIFORNIA: India's Bollywood actress Mallika Sherawat arrives at the 83rd Academy Awards in Hollywood.-Reuters
Film also bags best actor, director, screenplay awards
'The King's Speech' crowned with Oscar
H
ollywood found a new group of kings lording over movies on Monday, the makers of Oscar winner "The King's Speech," whose heartwarming tale triumphed over a flashy story of new technology in "The Social Network." "King's Speech" claimed four Oscars -- best film, actor for Colin Firth, director and screenplay -- with a traditional story of a British monarch defeating personal demons. It featured World War Two-era costumes, sweeping sets and a royal tale that seemed bigger than life itself. The British movie entered Sunday's Oscars, the world's top film honors, in a tight race for best film with "The Social Network," which chronicled the rise of Facebook from a website dreamed up in a college dormitory to an Internet sensation. But the contemporary tale of the digital age -- and its stable of young actors such as Jesse Eisenberg -- failed to capture
the fancy of Oscar voters as much as did the old-fashioned, sweeping saga "The King's Speech." "What has struck me is the emotional response to (the movie), which seems to have been very, very personal and quite diverse," Firth told reporters after the awards show. The veteran actor, age 50, won best actor over a group of others that included Eisenberg, 27, who portrayed Facebook founder Mark Zuckerberg. It was Firth's second nomination and Eisenberg's first. Natalie Portman claimed the best actress Academy Award for her portrayal of a young ballerina who grows into womanhood in "Black Swan." Portman called it "a dream" backstage to be a winner and despite the fact that she has starred in big-budget flicks such as the "Star Wars" movies, she instantly becomes an even more sought-after star. Similar to Firth, veterans Melissa Leo and Christian Bale
won best supporting actress and actor, respectively, for roles in another straightforward movie, boxing drama "The Fighter." Among other key-winners were family comedy "Toy Story 3" for best animated feature, Wall Street meltdown movie "Inside Job" for top documentary and Denmark's "In a Better World" took the prize for foreign language film. The world's top film honors from the Academy of Motion Picture Arts and Sciences came packed with a lot of comedy onstage from show hosts Anne Hathaway and James Franco. Hathaway sang a beautiful number, after which Franco appeared in a dress and blonde wig, looking like Marilyn Monroe -- or, perhaps more closely like her co-stars Tony Curtis and Jack Lemmon when they dressed in drag for "Some Like it Hot." This year, some razzle and some dazzle returned to Oscar's red carpet with bright and colorful gowns. -Reuters
ing a range of laptops designed after her -Kareena Kapoor is the only actress to not just represent the brand but also make the brand. Says a brand guru, "Kareena is the highest paid brand endorser. She has the right mix of tradition and contemporary and has phenomenal brand value. Her face sells the aspirations she stands for sells -there's no stopping Brand Bebo."
No mom roles for Madhuri E
ven though we have been seeing a lot of Madhuri Dixit Nene on TV we don't seem to get enough of the dhak-dhak girl. Here, she talks about her future projects and how different life is in Denver and India. These days, we're seeing a lot of Madhuri Dixit Nene - she's just everywhere, on chat shows, as the judge of a dance reality show, at awards functions - she danced with Shah Rukh at the Filmfare Awards last month, and was also spotted in Delhi, as the ambassadress of a food channel. And must say, the dhak-dhak appeal is still there - even if she's begun to settle gracefully into her figure. And she's still popular - a fact made evident by the number of stars from the industry who made it clear to Karan Johar that they'd rather share the couch with Madhuri for his chat show. How does so much adulation feel, even after a hiatus, and a not so successful comeback (remember " Aaja Nachle"?) "It's always nice to be complimented and accepted and loved, and of course, to be welcomed back," says Madhuri, adjusting the pallu of her saree to fall just so. About re-living the " Dil Toh Pagal Hai" moment with Shah Rukh Khan for the Filmfare Awards, she says, "It was our first stage performance, and it was great. He's a very sweet person. It was wonderful because we have a mutual admiration society". Unlike other actresses, she also airs her views on the newbies of the fraternity quite openly. Who's the hottest female actress among the current crop? "I don't see many movies these days," she says, and that's when you realise that she's picked up a very slight American accent, and adds, "But I saw "Band Baaja Baaraat" the other day and I really liked Anushka Sharma's work. And I also saw
"Dabangg" - I liked Sonakshi. She's got potential," says Madhuri. Talking of potential, has she made a conscious career move towards the small screen? Or are movie offers still coming her way? "There are many offers and scripts. Things are being finalised and I will talk about them at the appropriate time," she says. And what about Anil Kapoor offering the role of Sonam's mother in the remake of "Freaky Friday"? "Well, I've been asked, but I am not inclined to play the role of a mother right now," she candidly admits. And TV? How did that happen? "The "Jhalak..." people have been chasing me for two years. This time, they were very insistent that they wanted me. We went to Los Angeles, and saw the original American show - " Dancing With The Stars" - I liked the way they presented the stars and all that. They promised me this year would be bigger and better. So I thought they were really making an effort, so I took it up," says Madhuri. And what about rumours of being offered Season 5 as well? "Yes, they've asked me, we are working out the modalities."
ollywood actor-producer Arbaaz Khan, who has been on a high ever since his debut production "Dabangg" turned out to be a blockbuster, will now take the reigns as the director for the sequel of the masala action movie. Director Abhinav Kashyap, who helmed "Dabangg", has decided against directing the sequel, for reasons unknown. "Hey guys it true, I will be directing the sequel of 'Dabangg'. Abhinav for some personal n professional reasons opted out (sic), " Arbaaz posted on his Twitter page
Thursday. Arbaaz, who couldn't make it big as an actor thanks to flops like "Daraar" and "Hello Brother", hit the gold with his first production venture. "Scripting has already started, the filming starts by early january. Start sound, camera, action. Inshallah 'Dabangg 2' will live up to all the expectations and be a huge blockbuster because of you all. God bless . Allah hafiz. Dabangg ho!, " added the 43year-old. Rumours that Kashyap won't direct the "Dabangg" sequel began doing the rounds in November last
year itself. At that time, Kashyap had denied the news, and told: "This is just a rumour. I want to know if I am not making it, then who is making it? I even spoke to Arbaaz (Khan)...even he doesn't know from where these rumours are coming." It was speculated that either Arbaaz or his brother Sohail would be directing the movie, and the news has now turned out to be true. "Dabangg", starring Salman Khan and debutant Sonakshi Sinha, was the highest Bollywood grosser of 2010.
S
hahrukh Khan is finally set to make a foray into Hollywood with a film titled Xtrme City, co-starring Leonardo DiCaprio. The project will be jointly produced by Shahrukh and the acclaimed producer-director Martin Scorsese. Paul Schrader, the screenwriter of films like Taxi Driver and Raging Bull, will direct the
movie. The film's screenplay is penned jointly by Schrader and SRK's good friend and author Mushtaq Sheikh. Sheikh also confirms that Scorsese has gone through the script and liked it very much. The project was discussed at length last year during the Berlin Film Festival where Shahrukh had gone with Mushtaq for the premiere of his film My Name Is Khan. Scorsese and DiCaprio too were there for their film Shutter Island. The quartet, along with Schrader, met on the sidelines of the festival and discussed a possible collaboration between two film producing industries.
Why Preity is hopping mad? Unlike her fellow actor Shilpa Shetty who was "at peace" after her visit to Shirdi recently, Preity Zinta has returned with unpleasant memories of being pushed by the media in the pilgrim town.
Salman Khan highest paid Bollwood star
P
ost Dabangg success, Salman Khan has got a new name; he is the industry's Dabangg Khan and now also the highest paid actor in Bollywood. The star is said to have increased his asking price after the success of last year's action hit Dabangg. Salman has charged a whop-
Arbaaz will direct Dabangg' sequel
B
Shahrukh to co-star with DiCaprio
ping Rs 17.5 crore for Ready and he is also a partner in profit sharing of the film. "Actors keep saying that they have stopped charging a price because they are now taking home a share in the percentage of profits. The fee that Khan is charging for forthcoming project Ready is claimed to be the highest amount ever asked by a Hindi film actor. After a series of commercially underperforming productions in recent years, Dabangg has had a positive impact on Khan's career.
MUMBAI: Indian Bollywood Actress Katrina Kaif arrives for the launch of an interior design store.-Reuters
"Good morning! Went to Shirdi yesterday and came back with memories of media pushing me instead of the serene face & energy of Sai Baba (sic), " an irritated Preity posted on her Twitter page. The 36-year-old actor is quite displeased with the mad rush for celebrities even at a place of pilgrimage and is upset that she couldn't even pray properly. "I wonder why r temples have become so commercial? Why A temple trustee's urge 2 b photographed with a celebrity is entertained by media? In front of god, we bare ourselves and look to purify our soul. Instead of feeling uplifted i came back feeling sad & deprived from Shirdi. "In the rut to make anything news, have we forgotten to respect god and someone's genuine devotion? I fold my hands to the media & request dem 2 Respect us & respect GOD! Not every celebrity goes 2 a temple 4 Tamasha! Some genuinely go 2 pray & 2 disturb them then is BAD KARMA, " she added. Preity has been off the big screen for sometime now. Her last full-fledged role was in "Heroes" in 2008.
9
Saturday, March 5, 2011
Oil climbs higher as Libyan fighting intensifies
European vegetable oil prices
Rebels clash with Gaddafi forces at key oil terminal
ROTTERDAM: The following were the Friday's Rotterdam vegetable oil price's at 22:00 PST. SOYOIL: EU degummed euro tonne fob exmill Mar11 985.00-2.00, Apr11 990.002.00, May11/Jul11 995.002.00, Aug11/Oct11 1000.00. RAPEOIL: Dutch/EU euro tonne fob exmill May11/Jul11 1070.00+20.00, Aug11/Oct11 995.00+5.00, Nov11/Jan12 1000.00+5.00, Feb12/Apr12 1008.00+8.00. SUNOIL: EU dlrs tonne extank six ports option Apr11/Jun11 1440.00+5.00, Jul11/Sep11 1450.00+5.00, Oct11/Dec11 1400.00+0.00. LINOIL: Any origin dlrs tonne extank Rotterdam Mar11/Apr11 1572.50+12.50. CRUDE PALM OIL: Sumatra/Malaysia slrs option dlrs tonne cif R'dam Afloat 1240.00, Mar11 1242.50+10.00, Apr11 1242.50, Apr11/Jun11 1240.00+10.00, Jul11/Sep11 1220.00+10.00, Oct11/Dec11 1205.00. PALMOIL: RBD dlrs tonne cif Rotterdam Mar11 1317.50, Apr11 1307.50, Apr11/Jun11 1297.50. PALMOIL: RBD dlrs tonne fob Malaysia Mar11 1262.50+22.50, Apr11 1252.50, Apr11/Jun11 1242.50+15.00. PALM OLEIN: RBD dlrs tonne fob Malaysia Mar11 1270.00+22.50, Apr11 1260.00, Apr11/Jun11 1250.00+15.00, Jul11/Sep11 1210.00+15.00, Oct11/Dec11 1190.00+15.00. COCONUT OIL: Phil/Indon dlrs tonne cif Rotterdam Mar11/Apr11 2070.00+35.00, Apr11/May11 2040.00+15.00, May11/Jun11 2030.00. Reuters
LONDON: Crude oil rose on Friday, with Brent pushing towards $116 a barrel, as Libyan security forces began a violent crackdown on protesters in Tripoli and clashed with rebels near the major oil terminal of Ras Lanuf. Al Jazeera television also reported that an oil facility at Zueitina, south of Benghazi was damaged and on fire. By 1448 GMT, Brent crude futures for April delivery were up 87 cents to $115.66 a barrel, after earlier touching $116.30. US crude futures for April rose $1.27 cents to $103.18 a barrel. The intraday peak was $103.57, the highest since front-month crude hit $106.91 on Sept. 29, 2008, eclipsing $103.41 reached on Feb. 24. Libyan security forces fired shots and used tear gas to disperse a protest against Muammar Gaddafi's regime in the capital Tripoli. Demonstrators began the protest in the city's eastern district after Friday prayers.
Meanwhile, rebels advanced on the major oil terminal of Ras Lanuf, clashing with forces loyal to Gaddafi. The head of Libya's rebel National Libyan Council vowed "Victory or death", in a short speech in the town of Al Bayda in the rebel-held east of the country. A rebel spokesman told Al Jazeera rebel forces will attack
Tokyo rubber eases
Palm oil rises to 1-wk high, tracks crude higher
TOKYO: Key Tokyo rubber futures eased on Friday as sentiment remained bearish on worries that unrest in the Middle East could hurt the global economy, but losses were limited due to tight supply. The key Tokyo Commodity Exchange rubber contract for August delivery fell 1.5 per cent or 7.3 yen to settle at 468.4 yen per kg, but on the week gained 2 per cent. Last week, the market fell 13 per cent. Traders said they expected rubber to find a near-term bottom due to concerns over supply and firm oil prices, but the market was not expected to reach a fresh record as long as Shanghai rubber futures lacked clear momentum to the upside. The most active Shanghai rubber contract for May delivery fell 430 yuan to close at 38,030 yuan ($5,787) per tonne on Friday. Tokyo rubber futures are likely to move higher this month because of seasonally tight supply and strong demand from the tyre industry, but prices won't hit the record highs seen in mid-February and may slip back in April. -Reuters
Tripoli once a "no-fly" zone is enforced by international powers. He added rebel forces had repelled an attempt by Gaddafi forces to seize control of Brega airport in the rebel-held east. Barclays Capital analysts said in a note the chances of a swift resolution in areas of tension had reduced considerably. "Libyan oil is likely to be lost to the market for an extended period, tying up considerable amounts of replacement oil in much longer supply chains,
JAKARTA: Malaysian palm oil futures climbed to a oneweek high on Friday, with sentiment driven by rising crude prices as the crisis in Libya and parts of the Middle East showed little sign of resolution. The benchmark May 2011 crude palm oil contract on Bursa Malaysia Derivatives added 1.7 per cent to 3,660 Malaysian ringgit ($1,207) a tonne. Earlier, prices rose to a high of 3,665 ringgit, the highest since Feb. 22. "Palm oil is marginally higher," said one trader. "It is supported by steady crude oil. The revival of biodiesel is coming into play." "The problem with the Middle East is that there is a lot of pockets of protest and resistance right now -- Libya is only one of many." Overall, traded volume stood at 11,410 lots of 25 tonnes each, compared with a one-week high of 16,012 lots on Thursday. This week, benchmark
and events in Nigeria, Iraq, Iran and Bahrain are likely to provide a continuing backdrop of headline risks," they said. Unrest continues in other parts of the region. Iraqi security forces used water cannon and batons to disperse protesters in the southern oil hub of Basra as thousands of Iraqis rallied around the nation against corrupt officials and poor basic services. In Yemen, hundreds of thousands protested a g a i n s t President Ali Abdullah Saleh, who rejected an opposition plan for him to transfer power by the end of 2011. And in Bahrain several people were reported hurt in fighting between Sunni and majority Shi'ite Muslims. Libya's oil output has fallen to 700,000750,000 barrels per day (bpd) from normal levels of 1.6 million bpd as most foreign oil workers have taken flight, according to Shokri Ghanem, the head of Libya's stateowned oil company. -Reuters
palm oil prices climbed about 4 per cent as investors eye growing demand for biodiesel after tension in the Middle East boosted crude oil. Investors are also watching for developments in China, a top consumer of palm oil, used in products such as food, cosmetics, tyres and biofuels. China will cut tariffs and red tape to boost imports this year and "maintain balanced trade", Zhong Shan, the country's vice minister of commerce said in comments published on Thursday, but did not disclose details. The most-active Sept 2011 soyoil on the Dalian Commodity Exchange traded at 10,438 yuan versus an open at 10,398 yuan. ICDX's May CPO futures contract was at 10,670 Indonesian rupiah ($1.212) per kg, compared to 10,495 rupiah per kg when it opened. Market volume was 1,543 lots of 10 tonnes each. Reuters
Copper falls as Libya unrest multiplies LONDON: Copper fell on Friday as escalating violence in North Africa boosted oil prices, fuelled inflation worries and depressed risk appetite, but upbeat US jobs data lent some support. Three-month copper on the London Metal Exchange closed at $9,895 a tonne, from a last bid of $9,910 a tonne on Thursday. "Clearly with the political uncertainty in the MENA (Middle East North Africa) region, people want to keep risk under control before the weekend," said Credit Agricole analyst Robin Bahr. "Rising oil prices may derail economic growth and hit demand for industrial metals," he added. Tensions have run high in markets as a wave of unrest has spread across the Middle East and North Africa this year. As the violence in Libya intensified, oil prices jumped on Friday, adding to concerns over rising inflation. Nonetheless, positive economic data was capping losses. US February non-farm pay-
rolls rose by 192,000 jobs, slightly higher than expectations at 185,000. Friday's figures added to a
Shanghai copper falls Three-month copper on the London Metal Exchange traded at $9,858 a tonne by 0439 GMT, down $52 from Thursday's last bid. Shanghai's most active copper contract fell 20 yuan to 74,120 yuan. recent spate of upbeat data from the world's biggest economy, including data on jobless claims and US services sector on Thursday. "It's a cautious, slow trickle of better figures, but people are still cynical," a trader said. Also weighing on the market, stocks of copper in LME warehouses last rose 1,250 tonnes to
425,300 tonnes, their highest level since last July as traders cited weakening physical demand. The growing piles of metal have moved the copper curve into an $8.50 contango -- a discount for cash versus threemonth material -- from a $70 backwardation, or the premium for cash over three-month material, in mid-December. Aluminium stocks climbed 7,250 tonnes to 4,606,200 tonnes, within reach of a record high 4,640,750 hit in January 2010. Aluminium finished at $2,600, from a last bid of $2,611 on Thursday. Zinc ended at $2,461 a tonne from $2,512 at the close on Thursday, and battery material lead closed at $2,630 a tonne from a close of $2,619 a tonne. Tin finished at $31,850 from $31,650 a tonne. Nickel closed $28,800 from $28,860 a tonne. -Reuters
LONDON METAL EXCHANGE (PLASTIC) LME Official Prices, US$ per tonne for March 03 2011 POLYPROPYLENE(PP)
LINEAR LOW (LL)
Cash & Settlement
1310
1250
December (3rd Wednesday)
1310
1255
January (3rd Wednesday)
1310
1260
LONDON METAL EXCHANGE (METALS) LME Official Prices, US$ per tonne for March 03 2011
ALUMINIUM ALUMINIUM COPPER LEAD NICKEL ALLOY
Cash buyer Cash seller 3-months buyer 3-months seller 15-months buyer 15-months seller 27-months buyer 27-months seller
2370 2390 2360 2380 2330 2340 2330 2340
2578 2579 2613.5 2614 2687 2692 2737 2742
9889 2611 9889.5 2611.5 9909 2597 9910 2600 9860 2547 9870 2552 9590 2498 9600 2503
28850 28875 28875 28900 27765 27865 26515 26615
TIN
ZINC NASAAC
31600 2472 2550.5 31625 2472.5 2551 31620 2500 2570 31625 2500.5 2580 31375 2540 2615 31425 2545 2625 2538 2670 2543 2680
Indian sugar trades steady MUMBAI: Indian sugar prices were steady in low volume trades on Friday as support from limited supplies was offset by lack of buying from stockists, dealers and analysts said. Sugar contract for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) ended down by 0.42 per cent at 2,779 rupees per 100 kg. In Kolhapur, a key market in top producing Maharashtra state, the most traded S-variety rose by 0.59 per cent to 2,700 rupees ($60) per 100 kg. "Supply and demand both are low and are matching each other, and delay in onset of summer in north India has affected the sentiment," said Mukesh Kuvadia, secretary, Bombay Sugar Merchants Association. India has made available 1.684 million tonnes of nonlevy sugar for March, including 350,000 tonnes of unsold stocks from February, the government said in a statement on Feb. 25. "Sugar prices might see little correction in next few sessions as demand is not rising and soon there will be supply pressure," said Krishna Reddy, analyst with Way2wealth said. -Reuters
JAKARTA: Farmers shake unhusked rice during a harvest in the Bekasi district on the outskirts of Jakarta. -Reuters
Gold rises above $1,430/oz after US payrolls LONDON: Gold rose above $1,430 an ounce on Friday as fresh violence flared in Libya, and after US February payrolls data supported expectations the Federal Reserve will hold off tightening monetary policy. Gains in gold also lifted silver prices, which climbed to their highest since early 1980 at $35.32 an ounce.
it has in the past, given those growth rates. "Thus there is no indication from this labour market report that the Fed might think about terminating quantitative easing earlier than scheduled. That will be continued, and that is going to be a supportive factor (for gold)," he said. Forces loyal to Muammar
Spot gold hit a high of $1,431.20 an ounce and was bid at $1,428.75 at 1536 GMT, against $1,415.59 late in New York on Thursday. Prices fixed at $1,427 at 1500 GMT. US gold futures for April delivery rose $13.30 to $1,429.70. The US Labor Department said non-farm payrolls increased by 192,000 in February, above market expectations for 185,000 jobs. Data for December and January was revised to show 58,000 more jobs created than previously estimated. "Overall they indicate what Fed Chairman Bernanke already pointed out in his two testimonies this week," said Peter Fertig, a consultant at Quantitative Commodity Research. "The economy is improving, growth could surprise on the upside, but the economic recovery is not producing new jobs as
Gaddafi widened attacks on rebel-held areas in an escalation of Libya's crisis on Friday and violence spread to the capital when gunmen opened fire to break up dissident protests. Interest in investment products such as gold-backed exchangetraded funds slackened, meanwhile. Holdings of the world's largest, New York's SPDR Gold Trust, fell to their lowest since mid-May on Thursday at 1,210.621 tonnes. Holdings in the world's largest silver ETF, the iShares Silver Trust, rose to 10,794.89 tonnes by March 3, their highest since early January. Spot silver was bid at $35.26 an ounce against $34.17. Among other precious metals, platinum was at $1,836.74 an ounce against $1,823.49, while palladium was at $816.22 against $812. -Reuters
Cocoa hits 32-year peak; coffee rises LONDON: ICE cocoa futures on Friday touched a new 32year high as violence in Ivory Coast fuelled fears supplies from the world's top producer will come to a halt. ICE sugar futures eased, pressured by a strong Thai cane crush, while coffee prices rose and stood below the highest level in more than 30 years as producers scrambled to sell beans to take advantage of high prices. In cocoa, the focus was on concerns over supplies from Ivory Coast as the country slid closer to civil war. ICE May cocoa traded up $17 or 0.5 per cent at $3,750 a tonne at 1525 GMT, having earlier hit the peak of $3,775 per tonne. London May cocoa was down 2 pounds to 2,394 pounds per tonne, after touching a seven-month top, basis second month, of 2,425 pounds per tonne. ICE raw sugar futures fell, drifting further from last month's 30-year peak, weighed by a strong Thai crush, dealers said. ICE May raw sugar futures traded down 0.29 cent or 1 per cent at 30.30 cents a lb at 1530 GMT, below the 30-year high of 36.08 cents a lb touched on Feb. 2. London May white sugar was down $4.20 or 0.6 per cent to $753.30 per tonne in modest volume of 1,733 lots. ICE May arabica coffee traded up 0.45 cents or 0.2 per cent at $2.7520 per lb at 1532 GMT. Liffe May robusta coffee traded up $12 or 0.5 per cent at $2,394 per tonne in moderate volume of 4,993 lots. -Reuters
US cotton ends up as bulls stay in charge NEW YORK: US cotton futures closed higher Thursday on late speculative and trade buying as the paucity in nearby supplies and steady fiber demand kept the market firm and near record highs, analysts said. The key May cotton contract on ICE Futures US rose 5.10 cents to finish at $2.057 per lb, dealing from $2.006 to the 7cents limit up at $2.076. Volume traded Tuesday though stood about 26,800 lots, about 13.0 per cent below the 30-day norm, Thomson Reuters
preliminary data showed. Despite the robust level of cotton prices, open interest in cotton stood at 174,733 lots as of March 2, barely higher than the 7-month low at 174,074 lots as of Feb. 28, data from ICE Futures US showed. Mike Stevens, a long-time independent cotton analyst in Louisiana, said the market lacked direction even after key May hit the daily limit up in Thursday's session. 'It just kept going back-andforth,' he said. Analysts said
some encouragement was provided by the weekly export sales report from the US Agriculture Department. USDA said total US cotton sales hit 411,600 running bales (RBs, 500-lbs each), much higher than trade estimates it would run from 200,000 to 250,000 RBs. Last week, sales stood at 275,100 RBs. Stevens said the strong sales helped explain why the market turned around strongly last week to charge again over $2 a lb. -Reuters
National Commodity Exchange Ltd Trading Summary Date
4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011 4-Mar-2011
Commodity
CRUDE100 CRUDE100 CRUDE100 SILVER - SL500 SILVER - SL500 GOLD 01oz GOLD 01oz GOLD 01oz GOLD 100oz GOLD 100oz GOLD 100oz GOLD GOLD GOLD KILOGOLD KILOGOLD TOLAGOLD50 TOLAGOLD100 MINIGOLD MINIGOLD MINIGOLD MINIGOLD MINIGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD TOLAGOLD IRRI6W RICEIRRI - 6 RBD PALMOLEIN KIBOR3M KIBOR3M
Contract Date
Price Quotation
Open
High
Low
Close
MA11 AP11 MY11 AP11 MY11 AP11 MY11 JU11 AP11 MY11 JU11 MA11 AP11 MY11 MA11 AP11 MA11 MA11 MON TUE WED THU FRI MON TUE WED THU FRI 10MA11 MA11 MA11 11-Mar 11-Jun
US$ Per Barrel US$ Per Barrel US$ Per Barrel US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce US$ Per Troy Ounce Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per 10 grms Per Tola Per Tola Per Tola Per Tola Per Tola Per 100 kg Per 100 kg Per Maund Per Rs. 100 Per Rs. 100
100.90 102.31 102.99 34.50 34.52 1427.00 1428.10 1428.20 1429.00 1429.00 1416.00 39052.00 39073.00 39300.00 39245.00 39257.00 45775.00 45775.00 42000.00 40376.00 40391.00 40406.00 40318.00 47000.00 46430.00 46447.00 46831.00 46950.00 3305.00 3319.00 5348.00 86.27 85.81
103.00 103.94 104.59 34.57 34.57 1430.60 1431.70 1432.00 1429.00 1427.00 1428.50 39273.00 39284.00 39300.00 39245.00 39257.00 45775.00 45775.00 42000.00 40376.00 40391.00 40406.00 40318.00 47000.00 46430.00 46447.00 46831.00 46950.00 3312.00 3319.00 5447.00 86.28 85.83
100.25 101.50 102.99 34.05 34.20 1410.60 1411.40 1412.20 1412.00 1415.00 39052.00 39073.00 39048.00 38994.00 39005.00 45482.00 45482.00 37850.00 40108.00 40123.00 40137.00 40152.00 46067.00 46117.00 46134.00 46151.00 46168.00 3305.00 3318.00 5348.00 86.27 85.81
102.79 103.91 104.59 34.46 34.47 1418.60 1419.30 1420.10 1418.60 1419.30 1419.30 39021.00 39033.00 39048.00 38994.00 39005.00 45482.00 45482.00 40064.00 40108.00 40123.00 40137.00 40152.00 46067.00 46117.00 46134.00 46151.00 46168.00 3312.00 3318.00 5447.00 86.28 85.83
Traded Volume in lots 455 454 138 99 2,659 2,904 1,578 20 4 3 1 10 8 8 1 -
Previous Settlement Price 102.03 103.14 103.79 34.40 34.41 1418.00 1418.80 1419.60 1418.00 1418.80 1419.60 39022.00 39033.00 39049.00 38994.00 39006.00 45482.00 45482.00 40065.00 40108.00 40123.00 40138.00 40152.00 46068.00 46118.00 46134.00 46151.00 46168.00 3305.00 3319.00 5348.00 86.27 85.81
Note: Traded Volume reflects the trades from 06:00 pm of previous day to 06:00 pm of current day
Current Open Interest Settlement in Lots Price 102.79 109 103.91 37 104.59 34.46 49 34.47 19 1418.60 1,270 1419.30 1,341 1420.10 811 1418.60 10 1419.30 1420.10 39021.00 3 39033.00 81 39048.00 38994.00 39005.00 45482.00 45482.00 40064.00 12 40108.00 40123.00 40137.00 40152.00 46067.00 20 46117.00 4 46134.00 5 46151.00 10 46168.00 3312.00 3318.00 5447.00 86.28 85.83 -
Sweden’s Prince Daniel, Norway’s Princess Mette are pictured at Nordic Ski World Championships in Oslo
10
Saturday, March 5, 2011
Madrid must cope without Ronaldo at racing MADRID: Real Madrid will be without joint La Liga top scorer Cristiano Ronaldo for Sunday's trip to Racing Santander after he damaged a leg muscle in Thursday's 70 drubbing of Malaga. The Portuguese forward ended a four-match goal drought with a hat-trick at the Bernabeu but had to leave the pitch with just over 10 minutes remaining, reducing Real to 10 men as they had used all three substitutes. Jose Mourinho's side were already seven goals ahead and their biggest win of the season cut Barcelona's lead at the top back to seven points with 26 matches played after Lionel Messi had given the champions a 1-0 win at Valencia on Wednesday. "It's better not to take risks. I don't think I'll be available for Sunday's match," Ronaldo, who is level with Argentina forward Messi at the top of the La Liga scoring chart on 27 goals, told reporters after the match. Real said on Friday that a scan had confirmed the injury and Ronaldo would be sidelined for 10-15 days. The 26-year-old could also miss the La Liga game at home to Hercules on March 12 and the Champions League last-16, second leg against Olympique Lyon four days later. Sunday's game at Racing's Sardinero stadium (2000 GMT) is a chance for the club's new Indian owner Ahsan Ali Syed to see at first hand how his team fares against one of La Liga's two dominant clubs.-Reuters
FIFA keeps World Cup balance for 2014 Monitoring Desk ZURICH: FIFA on Thursday rejected North and Central American demands for four full places in football's 2014 World Cup as it granted host Brazil an automatic berth under a broadly unchanged system. The executive committee of world football's governing body decided that South America's CONMEBOL would keep its "4.5" qualifying berths alongside the host - four plus another decided in a play-off against a side from another continent. Overall the balance between the different continents among the 32 participants in the 2014 World Cup finals in Brazil will be based on the same principle as in 2006 and 2010, according to FIFA Secretary General Jerome Valcke.
Afghan cyclists due today ISLAMABAD: Afghanistan eight members tour de team would arrive in Pakistan on Saturday (today) for participating in Pakistan cycling race. As pert details, Afghanistan players would take two days rest in Karachi and participate in cycling race after two days. Pakistan cycling race would start on March 08 from Karachi to Abbottabad.-Online
WI hunt down Bengal tigers Bashed Bangladesh take second pasting from fans
DHAKA: West Indies' Sulieman Benn is congratulated by his teammates after he took the wicket of Bangladesh's captain Shakib Al Hasan during their ICC Cricket World Cup group B match.-Reuters
ICC meet to set new WC format DUBAI: The ICC will meet in May to draft out the structure of the World Cup from 2015 and beyond, incorporating an ODI league and a clause regarding promotion and relegation into the tournament that could radically alter the course, not merely of the ICC's flagship event, but the 50-over format of the game itself. The decision to trim the World Cup down to ten teams has been vehemently criticised, particularly by cricket's smaller nations, but the new structure will ensure they get some level of participation. The ICC chief executive Haroon Lorgat told ESPNcricinfo that the ICC Board had to finalise its last piece of a global ODI league format and arrive at a cut-off for
eligibility for the 10 teams due to take part in the 2015 World Cup. The purpose of this "cutoff" is to make both the new league, which will begin after the World Cup, and the ICC's ODI rankings meaningful. The ICC must decide how many teams at the bottom of the top ten ODI rankings will compete in a World Cup qualifying competition with the Associates to enter the World Cup. Lorgat said the ICC's board would decide what that cut-off should be. "Somewhere we have to make the cut-off. Who knows what that would be yet - eight or nine or seven. The cut-off means that teams ranked higher than the cut-off directly get into the World Cup. Whoever is left out, goes into a qualifier."-Online
Recordboard Players Strauss-England Villiers-SAfrica Sehwag-India Players Afridi-Pakistan Roach-WIndies Johnson-Australia
Most Runs Mat Runs 3 280 2 241 2 210 Most Wickets Mat WKts 3 14 3 10 2 8
HS 158 134 175
Ave 93.4 241 105
SR 105.66 118.71 126.50
BBI 5/16 6/27 4/19
Ave 5.21 8.80 6.50
Econ 2.60 3.91 2.81
Eng win just the start: Ireland BANGALORE: Cricket Ireland chief executive Warren Deutrom insists the shock win over England is just the beginning as the team target the World Cup knockout phase. Ireland, led by Kevin O'Brien's devastating innings of 113 - the fastest century in the history of the World Cup defeated England by three wickets in Bangalore on Wednesday.The victory saw Ireland revive their quarterfinal hopes after they let slip the chance to beat co-hosts Bangladesh, another Test nation, in their tournament opener in the subcontinent. Four years ago Ireland dramatically defeated Pakistan in Jamaica to reach the second phase of the World Cup but Deutrom said the reaction to Wednesday's remarkable victory had been dramatically different.-Online
6 bookies arrested for Pak-Can match NEW DELHI: Six persons have been arrested for placing bets on the PakistanCanada World Cup match, police said. On a tip-off, the police last night raided an office on Omkar road and arrested the accused while they were betting on the match. A cash of over Rs one lakh, a television set and over two dozen mobile handsets were recovered from them, police said. The accused have been identified as Arun Nautiyal, Kamal Kothiyal, Rajendra Bist, Sanjay Anand, Sanjay Verma and Ajay Gupta, all residents of Dehra Dun. This is the second such raid conducted by the district police in a gap of four days to bust betting rackets during the World Cup matches. 46-year-old Pramod Kumar Jain, a resident of Khurbura, was arrested when he was found betting for IndiaEngland cricket match on Feb 27.-Online
DHAKA: Bangladesh fans, who greeted the opening of the World Cup with a glorious celebration and huge anticipation less than two weeks ago, turned on their own team on Friday as cheers turned to boos and angry recrimination. Shakib Al Hasan's team were humiliated by a rampant West Indian attack, skittled for their lowest ever one-day international score of 58 before falling to a nine-wicket beating. The embarrassment of the co-hosts filled the Shere Bangla National Stadium like a bad smell with the very people who had hailed their team as potential world beaters on February 19 reacting with increasingly vocal disgust as the match drew on. Mohammad Moudud, 30, a student of BRAC University, summed up prevailing feelings neatly: "They (Bangladesh players) still need to learn many things. They have just marred our party and the weekend." As Shakib's hapless men trooped off with heads kept low, fans tossed almost
everything they could get their hands on -- caps, placards, logos, even jerseys -- to the outfield as a demonstration of their disappointment. By the time the West Indian openers Chris Gayle and Darren Bravore turned to open the innings before their side went on to complete the formalities of the win, loud boos circulated the stadium, specially revamped for this tournament. STILL REVERBERATING Those jeers were still reverberating after the match as West Indian fast bowler Kemar Roach collected a second man-of-the-match prize for his three wickets and Shakib tried to explain away the rubble of his side's performance. It had taken West Indies 90 minutes to polish off the Bangladeshis with a mixture of spin and pace and Darren Sammy's men took threequarters of an hour and 12.2 overs to knock off their target. For the record, Devon Smith was out for six, bowled by Naeem Islam, Gayle remained unbeaten for 37 and Bravo was nine not out.
Talk about a short day at the office for the visitors. Their hotel maids would barely have had the time to straighten up their rooms before they found them returning to put their feet up, grab a cool drink and watch the highlights on telly. "We never thought we'd bat this poorly because we've been playing really good cricket for last the 12 months and we've been consistent with the bat," Shakib said, trying to make himself heard above the din of the crowd. "I don't know (what went wrong). We have a lot of things to work on now. We have to sit down and think about it. "But hopefully we'll come back strongly as there are three more games. If we want to qualify for the second round, we have to win two out of three. It is still very much possible." Shakib, who conducted the interview with a good natured, slightly goofy, smile which, while earning points for good sportsmanship, may well have irked his supporters even more.-Reuters
NZ thump Zimbabwe AHMEDABAD: New Zealand dominated Zimbabwe from ball one on Friday and romped to their second 10-wicket win in the World Cup but the victory probably did little in getting the team ready for the tougher battles lying ahead. The New Zealand opening batsmen complemented the efforts of their bowlers and thrashed Zimbabwe to notch up their second World Cup win. Paceman Tim Southee led a disciplined New Zealand bowling show to s k i t t l e Zimbabwe for 162 runs after the Africans chose to bat first in the Group A match at the Sardar Patel Stadium. Southee bowled full and fast to pick up three wickets for 29 while captain Daniel Vettori and Kyle Mills, who returned from a back injury
in place of batsman Jamie How, picked up two wickets apiece. Openers Martin Guptill (86 not out) and Brendon McCullum (76 not out) then
came back and swatted away whatever Zimbabwe threw at them and reached the tar-
get in under 34 overs. Friday's performance was almost identical to their 10wicket win against Kenya, when the Kiwi pace brigade had dismantled their opponents for just 69 runs. But New Zealand's problem has been their batting which was ripped apart by some fiery fast bowling from Australians Brett Lee, M i t c h e l l Johnson and Shaun Tait. NO WORKOUT The Kiwis have matches a g a i n s t Pakistan, Canada and Sri Lanka left in the group stages and the batsmen will surely be tested hard against the Umar Guls and Lasith Malingas. While the lopsided win a g a i n s t Zimbabwe denied the New Zealand middle-order batsmen from getting a workout on Friday, captain Vettori appeared content.-Reuters
US payrolls jump, jobless rate near 2-year low WASHINGTON: Hiring by US employers hit a nine-month high in February and the jobless rate slipped to a nearly two-year low of 8.9 per cent, showing the economy is kicking into a higher gear. Employment increased 192,000, the Labor Department said on Friday, in line with expectations, in what was partly a bounce back from a weather-depressed January. Data for December and January was revised to show 58,000 more jobs created than previously estimated. "We have moved into the expansion phase of the economic cycle and the economy is self-sustaining," said Brian Levitt, an economist at Oppenheimer Funds in New York. The unemployment rate fell to its lowest since April 2009, from 9.0 per cent in January. Federal Reserve officials, who meet on March 15, will likely welcome February's sturdy employment report, but probably still regard the pace of job creation as too slow to change the US central bank's ultra-easy monetary policies. The last time payrolls grew so much was last May, when the government's hiring of temporary workers for a census boosted payrolls hugely. As in previous months, the private sector accounted for all the job gains in February, with an addition of 222,000 positions -- the largest gain since April 2010. That was up from 68,000 in January. "The numbers confirm that labor market conditions are gradually improving. It is critical that the pace of improvement accelerate over the course of the year given the overall size of the unemployment problem," said Mohamed El-
Erian, co-chief investment officer of PIMCO in Newport Beach, California. Though the employment report showed gains across the board, with the exception of government, some investors were a little disappointed as they had anticipated an even bigger increase in payrolls. Rising crude oil prices also overshadowed the data, helping to push US stocks down. Prices for US government debt rose, while the dollar slipped against a basket of currencies. The jobless rate has dropped 0.9 per centage point since November. The rate is derived from a survey of households, while the job creation figure comes from a separate survey of employers. The household survey showed more people were employed in February. The unemployment rate is being closely watched by the Fed and could well determine the timing of the US central bank's first interest rate hike. The Fed has held overnight lending rates near zero since December 2008. Economists believe the Fed will want to see payroll gains in excess of 200,000 for at least six to nine months and a significant decline in unemployment before starting to withdraw its massive monetary support from the economy. "If we start to add enough jobs, sufficient to lower the unemployment rate, I think the Fed will feel a little more comfortable in easing off the throttle," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania. "But right now, the economy is still fragile. There are a number of potholes that we can hit and the Fed is not going to
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Saturday, March 5, 2011
want to act on exiting any time soon." A surge in crude oil prices above $100 a barrel due to turmoil in the Middle East and North Africa represents a new headwind for the economy. But Fed Chairman Ben Bernanke this week said higher oil prices were unlikely to steal much from growth or spark broader inflation, as long they are not sustained. With the jobless rate far from its natural 5-6 per cent level and inflation still short of the Fed's target of close to 2 per cent, analysts expect the Fed to complete its $600 billion government bond-buying program through June to help the economy. Employment in the private service sector, which pulled back in January, when much of the United States was hit by heavy snowfall, showed solid growth in February, rising 152,000 from 33,000 jobs in January. Payrolls in the goods-producing industries saw a weather-related bounce of 70,000, with construction increasing 33,000 after shedding 22,000 jobs in January. Manufacturing, a sector that is powering the recovery, added 33,000 jobs. Government employment fell 30,000, contracting for a fourth straight month, pulled down by state and local governments, which are under heavy budgetary pressures. The average work week was steady at 34.2 hours. Average hourly earnings rose one cent. A separate report showed new orders received by US factories leaped 3.1 per cent in January, marking their biggest increase since September 2006 on a massive surge in aircraft orders.-Reuters
Indonesia cbank holds interest rate steady; flags rises JAKARTA: Indonesia's central bank kept its benchmark interest rate steady on Friday, but vowed to tackle stubbornly high inflation in an effort to placate those market players worried it is falling behind the curve. Bank Indonesia assured financial markets it would steadily but gradually lift interest rates and also encourage a stronger currency to control persistently high core inflation, which is at a 13-month high. While a slender majority of economists polled by Reuters had forecast the overnight policy rate would be held steady at 6.75 per cent, several believed a 25 basis point rise would have been more prudent. The bank, however, said it was closely monitoring core inflation, saw room for further appreciation in the rupiah to temper imported inflation, and in a somewhat hawkish statement said it would adjust rates in stages whenever necessary. "This decision does not change the direction of Bank Indonesia's monetary policy that is tending to be tight to manage high inflationary pressures," Bank Indonesia said, a month after it raised rates for the first time in two years. The central bank said it was confident headline inflation could be kept on target at 4-6 per cent for this year and at 3.5-5.5 per cent in 2012, through a mixture of monetary and macro prudential policies and strong government commitment to control high food prices. Economists weren't so sure. "I can't say whether BI's decision is right or wrong but I think it would have been more prudent for them to hike the rate," said Wellian Wiranto, an economist with HSBC in Singapore. "I think they are missing a very good chance to strengthen their credibility."Retuers
Global imbalances to worsen, top cbankers told PARIS: ECB policymakers warned global central bankers on Friday that economic imbalances could worsen fast unless the G20 makes a concerted push to tackle them. Axel Weber, soon to quit as head of Germany's Bundes bank, told a meeting of US, euro zone and Asian policymakers that IMF forecasts pointed to renewed divergences in current account positions and that the surge in oil prices since unrest broke out across North Africa would accelerate this. ECB governing council member Mario Draghi added that global mismatches would remain a problem for long time to come. Imbalances between wealthy and emerging nations are proving one of the biggest headaches for policymakers striving to repair the world economy after the most damaging crisis in decades and reduce the risks of future shocks. "Current account surpluses have returned or are currently returning to pre-crisis levels and I think this will be sped up by the fact that the recent hike in oil prices might accelerate," Weber said. Draghi told the meeting: "These imbalances will stay with us for a long, long time. "What we need then is to make sure that capital markets function to finance these imbalances ... because we know they are not exactly efficient, so we need rules, we need a resilient financial system." Weber also said currencies in many emerging economies remained undervalued and urged the United States to save more to curb its reliance on foreign capital. They were addressing a dozen global policymakers
who joined academics and businessmen under the banner of France's Group of 20 presidency to discuss imbalances, regulation, inflation and other topics two weeks after G20 finance ministers fixed a set of indicators to measure imbalances. "We are not trying to find the perfect financial system," French Finance Minister Christine Lagarde said. "We want better coordination of economic policies. We want to reduce the need to accumulate international reserves. We need to get to the roots of why emerging markets feel the need to accumulate reserves," she said. "We need to work better on the financial safety net, we need to do a good job, they need to be easy to use and not associated with the IMF stigma." The finance ministers of the world's major economies succeeded only in reaching a fudged accord on how to measure global imbalances after China prevented the use of exchange rates and currency reserves as indicators. "The G20 is the only group that basically has legitimacy to own this process (of tackling imbalances) and drive forward and achieve results," Weber said. "We have to start passing a judgment on what the disequilibrium is. We have to embark on mechanisms to deal with these current account problems and come up with a surveillance process to make sure countries that commit to certain processes at the national level see these policies through." Friday's gathering came a day after the European Central Bank said it could soon raise interest rates, heightening concerns about the implications
for struggling euro zone countries as EU leaders strive to resolve the debt crisis. ECB board member Lorenzo Bini Smaghi said the world had a tendency to systematically underestimate inflation and overestimate growth in developed economies. "If we look at the past at the kind of forecast errors which have been done and here I look at the IMF forecast errors ... we have systematically underestimated inflation and overestimated growth in advanced economies," he said. China and other Asian and Latin American economies are resisting pressure from Washington and Europe to raise their interest rates to curb signs of overheating in their economies and allow their currencies to appreciate. Many of them point the finger squarely at the US Federal Reserve's new round of money printing via a $600 billion bond purchase programme as the root cause behind a wave of "hot money" inflows that risk destabilising their economies. "Policies of major reserve issuing currencies have an enormous impact on other countries," Chinese deputy central bank governor Hu Xiaolian said. Opening Friday's conference, Bank of France Governor and ECB governing council member Christian Noyer said the accumulation of foreign reserves by emerging economies was part of the reason behind the globalised crisis. He also told policymakers that the G20 still had significant room to press ahead with financial regulation, particularly on the structure of commodities markets and tighter regulation of the "shadow banking system".-Reuters
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of a new Afghanistan-Pakistan Transit Trade Agreement. Both sides have also agreed to promote joint ventures and expand horizons of mutually-beneficial economic partnership as well as promote trans-regional development cooperation. It merits mentioning that Earlier, Pakistan, due to its principled objections on the Af-Pak concept, had refrained from profiling in the meetings of the International Contact Group, composed of SRAPs from various countries. Pakistan was given a clear understanding that this meeting in Jeddah had been convened as a result of a request by the Afghan Government to the OIC Secretary General, who had kindly offered to host the event at the OIC premises.-Online
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especially in the Punjab and asked the scientists to work on introducing such varieties that resist such viruses. It was decided that Research Institutions which introduce new varieties would be given a major share in the marketing rights apart from bonuses for individual scientists to promote research in the country. All Pakistan Textile Mills Association (APTMA) offered to finance research on equity basis with public sector so that cotton production is enhanced to meet the 16 million bales per year requirement of the local industry. Pakistan Agriculture Research Council (PARC) is tasked to import germ plasma of different cotton seed varieties from different countries and develop virus resistant varieties locally. Exploring new areas for production of cotton in Balochistan and Punjab were also discussed. The provinces were advised to adopt better management practices as a short term measure to increase the per acre production of cotton in the country. It was also proposed to offer Special Pay Scale (SPS) to the scientists and improve their service structure so that they are looked after financially. APTMA offered its maximum financial support and help for the promotion of research centers in the country. It added that APTMA can patronize one of the cotton research centers as Model Research Centre in Pakistan.-APP
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focus on his performance instead of wandering here and there. MNA Kishinchand Parvani said that there are contradictions about government's claims on Bhatti's security.-Agencies
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LHC include Justice Muhammad Yawar Ali, Justice Syed Mazahir Ali Akbar Naqvi, Justice Mamood Rashid Sheikh and Justice Muhammad Farrakuh Irfan Khan while Justice Muhammad, Tasnim and Justice Salman Hamid come from SHC. Earlier, Makhdoom Ali Khan, counsel for Munir Hussain Bhatti advocate and Kamran Murtaza advocate, rebutted arguments of Additional Attorney General KK Agha by saying that Judicial Council had primacy over decision of Parliamentary Committee. He said the Commission was a forum which could rightly decide cases of Judges. Similar stance had been taken by Anwar Mansoor Khan, president Sindh High Court Bar Association, another petitioner. They had prayed that the Court might accept their petitions, quash the recommendations of the Parliamentary Committee in respect of the six Judges of the Lahore High Court and Sindh High Court. The bench was requested to direct the Federation to implement recommendations of Judicial Commission. While Additional Attorney General for Pakistan (AAG) KK Agha had contended that the pending applications over Parliamentary Committee's role for rejecting the names of six additional judges of Punjab and Sindh High Courts was an attempt to cause prejudice over pending proceedings related to the 18th Amendment case. He stated that they were just trying to
change the system through a process without attacking the judiciary as claimed by the petitioners. He said that Committee could over-rule Judicial Commission's recommendations if they were justiciable. Though these could not be justiciable before the Commission but the Supreme Court could be forum to judge them, he added. Winding up his arguments he said that Committee's role over appointment of judges was as equally important as that of the Judicial Commission. He prayed that judicial restraint should be exercised as the sensitive issue pertained to appointment of judges and not to public.-APP
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IMF bailout programme to South Asian country. The fund declined to comment on the fuel price decision, which will come up in meetings with an IMF team now in the country. Analysts estimated the treasury would lose up to Rs9 billion ($105 million) a month by agreeing to reduce the fuel price hike. Government officials have said the decision to put off fuel price increase since Oct 31 had cost the economy Rs13 billion ($152 million). Finance Minister Abdul Hafeez Shaikh told reporters after meeting representatives of the MQM that the government would now have to "bear more burden". Analysts say Pakistan is likely to overshoot a revised budget deficit target of 4.7 per cent agreed with the IMF in November 2010. Some forecast the deficit to be about 8 per cent, higher than the central bank's prediction of between 6.0 and 6.5 per cent, if fiscal reforms are not implemented. The government will now have to convince the visiting IMF team that it is serious about reform, analysts said. "The picture is not very clear as to what exactly the government's plan is in terms of convincing the IMF but it will have to come up with a credible plan," said Asif Qureshi, director at Invisor Securities Ltd. The revised fuel price increase is not likely to have a significant impact on inflation, which rose more than 14 per cent year-on-year in January. "Fuel's direct impact on inflation is about 4.4 per cent so it's quite minor and the decision to increase fuel prices by almost 5 per cent would affect inflation by just 25 to 50 basis points," said Qureshi.-Reuters
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PM Gilani said that it is a very sad day and he considers it a black day. He said "We are mourning the death of Shahbaz Bhatti as it is a great loss to the country. He will be remembered for his efforts to promote interfaith harmony, and the government would leave no stone unturned to bring the culprits to justice. Earlier, the coffin of slain Bhatti draped in the green and white national flag was brought in an ambulance from Pakistan Institute of Medical Sciences to his residence, later driven to the Church and afterward lifted by helicopter to his native village for burial. Bhatti's mother, wife, brother and people from minority community were wailing and a pall of gloom descended on the town when the dead body was brought here.-APP
Continued from page 1 No #7 absence of a certification by the Government of Pakistan that Davis had diplomatic immunity, it would presume he did not have any such immunity. "So that's not a definitive judgment. There is actually, later this month, a higher court hearing on the question of diplomatic immunity," he said. Crowley insisted that the US in January 2010 had informed the Government of Pakistan of the arrival of Davis in the country, his assignment to the administrative and technical staff of the US Embassy.
"And that was notification that he, in fact, has diplomatic immunity," he said. Pakistan, however, denies to accept that. Furthermore, Mark Grossman American special envoy to Pakistan and Afghanistan would reach Islamabad on a two day visit. During his visit Mark Grossman will meet senior government officials, civil society representatives and local media. "In his meeting, Ambassador Grossman will emphasize the US commitment to longterm, enduring partnerships with both Afghanistan and Pakistan," the statement issued by State Dept said. It said he will pursue "the ongoing dialogues" begun by Holbrooke.Online
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services and growth, he remarked adding "let people do what they are capable of." He said that as many as 34 public sector entities were privatised during 2003-05 but deplore that not even a single entity was privatised from 2005-08. Meanwhile, President Asif Ali Zardari met Finance Minister Hafeez Sheikh and Governor State Bank of Pakistan (SBP) Kardar at Zardari House Karachi. Spokesperson F Babar said that the economic managers briefed the President about the state of the economy and the steps being taken to address the challenges. The President emphasised the need for enlarging social safety net for the poorest of the poor, broadening the tax base and giving special incentives for attracting remittances from overseas Pakistanis through regular banking channels.Online
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of Khyber Pakhtunkhwa but said that, so far, killing of 10 people have been ascertained. A large number of people were present at the time of the blast. Immediately after the incident ambulances and police rushed to the scene. The injured were rushed to a nearby hospital and some seriously injured were shifted to the hospitals in Peshawar. Eyewitnesses said that someone had planted explosives inside a storeroom that went off when people gathered around 'langar'. The eyewitnesses said that no proper security arrangements were made in the area as the shrine is situated in a village, away from the main city.-Online
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He said that on the instructions of President Asif Ali Zardari, the repair work and reinforcement of protective bunds in the flood affected areas will be completed by May this year. He said Sindh will immediately receive Rs2.5 billion, out of Rs5 billion announced by the federal government for the reinforcement of bunds in the province. Responding to a question, Qaim Ali Shah said that President Asif Zardari holds meetings with party leaders whenever he comes to Karachi. He said that coal excavation will start next year at Thar coal field while the gas burning test for coal gasification project of Dr Samar Mubarak Mand will be held in April this year.
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thanked the Sindh Governor Dr Ishrat-ul-Ebad Khan for his cooperation. Earlier Governor Sindh, Dr Ishrat-ul-Ebad Khan said that all parties should have to sit together and find ways and means to face challenges being faced by the country. Addressing the Annual Dinner 2010 of Korangi Association of Trade and Industry (KATI), the Ebad said that the country is facing various challenges particularly law and order and declining economy and all the stakeholders should sit together as the government could not face the challenges alone and without the help of all parties and the people. He said that MQM has already rejected the recent increase in POL prices announced by government. He said that MQM had rejected the POL price increase in the past as it was a big burden on the general masses.-Agencies
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was increased by 9.9 per cent on the night between February 28 and March 1 but allies of PPP including MQM and ANP rejected it. After several rounds of talks with MQM, PPP led government agreed to cut the price hike by 50 per cent.-Online
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afraid of strong arm tactics of the opposing forces. He said all Pakistanis have equal rights, which they must get. Altaf said we have always raised voice against extremism and will certainly repeat the history in the future as well.-Agencies
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Saturday, March 5, 2011
Tripoli mosques launch protesters TRIPOLI: Protesters marched from mosques in the Libyan capital Friday, calling for Moammar Gadhafi's ouster, in defiance of a heavy crackdown by regime supporters over the past week that has spread fear in Tripoli. Similar protests a week ago were met by a brutal crackdown, when militiamen opened fire on demonstrators moments after they began their marches, killing a still unknown number. Since then, proGadhafi forces have carried out a wave of arrests against suspected demonstrators, snatching some from their homes in nighttime raids. In the morning Friday, security forces set up checkpoints in parts of the capital, searching cars and questioning drivers to find anyone who might be planning to join the protests. Internet services, which have been spotty throughout Libya's upheaval, appeared to be halted completely in Tripoli on Friday. Still, some 1,200 protesters marched out of the Murad Agha
mosque in Tripoli's Tajoura district after noon prayers were completed. They chanted "the people want to bring the regime down" and waved the red, black and green flag of Libya's pre-Gadhafi monarchy, adopted as the banner up the uprising. "I am not afraid," said one 29year-old man among the protesters. He said in the protests a week ago one of his relatives was shot to death - not by militias, he said, but by a pro-Gadhafi infiltrator among the demonstrations. "There are many spies among us. But we want to show the world that we are not afraid" he said, speaking on condition of anonymity because of fears of retaliation. Control of the capital is crucial to the Libyan leader, since it remains his strongest remaining bastion amid the uprising that began on Feb. 15 and has broken the entire eastern half of Libya out of his control. Even some cities in the west near Tripoli have fallen to the uprising, and the opposition has repelled repeated attacks by pro-
Gadhafi forces trying to take back the territories. A large force from a brigade led by one of Gadhafi's sons led a new attack Friday on Zawiya, the closest opposition-held city to Tripoli, a resident said. The troops from the Khamis Brigade - named after the son - attacked Zawiya's western side, firing mortars and then engaging in battles of heavy machine guns and automatic weapons with armed residents and allied army units, said the resident. "Our men are fighting back the force, which is big," the resident said. Zawiya, about 30 miles (50 kilometers) west of Tripoli, has beaten back several assaults the past week. Throughout the night and into the early hours Friday, pro-Gadhafi forces also fired mortars and antiaircraft guns at the outskirts of opposition-held Misrata, Libya's third largest city located just east of Tripoli, a doctor in the city said. He said it appeared to be an intimidation tactic, causing no casualties.-Reuters
Bhatti's killers to be brought to Justice : PM
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani Friday said the government would fulfill all commitments made to investors working in different areas of Balochistan to encourage development in the province. Talking to Deputy Chairman Senate Jan Muhammad Jamali and representatives of Utch Power Company here at his Parliament House Chamber, Gilani appreciated gesture of the company for establishing educational and other public welfare institutions in Balochistan for the local people. Gilani, who also met other parliamentarians, pointed at the impact of various development projects in Balochistan, and said the government has also allocated reasonable amount for expansion and betterment of the road net-
work in the province. He said the input by them regarding the development activities in their respective areas would help make necessary improvements. He said no distinction has been made towards allocation of funds to the Parliamentarians on basis of party affiliation. He said the government's policy has also positively engaged the local representatives and inculcated a sense of ownership on these ongoing development projects. The Parliamentarians lauded the Prime Minister for keeping close contact with the public representatives to exchange views on issues of their respective areas. They also informed the Prime Minister about the progress on various development schemes
Socioeconomic growth, peace, stability
We’d see Afghans through, says Hina ISLAMABAD: The Minister of State for Foreign Affairs Hina Rabbani Khar underscoring the need for promoting stability and peace in Afghanistan said Pakistan will continue to assist Afghanistan in its endeavours to promote socioeconomic development. Addressing the participants in the meeting on Afghanistan held in Jeddah Hina Rabbani Khar said in order to promote stability and peace in Afghanistan, it was imperative that all countries, especially the immediate neighbours and those in the wider region, pledged themselves to respect the principles of non-interference and non-intervention as well as respect for Afghanistan's sovereignty, political independence, unity and territorial integrity. She also underscored the importance of Afghan-owned and Afghan-led process of national reconciliation.
Hina also emphasised the importance of working the development track, without which other tracks such as military and political would not deliver. Pakistan has always enjoyed close brotherly relations with the people of Afghanistan. Cooperation between the two Governments continues to progress in a comprehensive manner, she said. She said Pakistan supports efforts of President Hamid Karzai and his Government as well as those of the High Peace Council led by Professor Burhannuddin Rabbani to promote reconciliation and peace in Afghanistan. Pakistan will continue to assist Afghanistan in its endeavours to promote socio-economic development. Both Governments have already agreed to speed up the measures relating to trade facilitation in the context See # 1 Page 11
Cotton body sprouts fresh growth ideas ISLAMABAD: The first meeting of Cotton Committee constituted on the direction of President Asif Ali Zardari has proposed to take solid steps in order to enhance cotton production. "Speeding up work on Seed Amendment Act, working on public private partnership basis, introducing virus resistant varieties of cotton and giving incentives and marketing shares to institutions that introduce new varieties", were some of the suggestions proposed by the committee.
The meeting led by former minister for food and agriculture, Nazar M Gondal was attended by Food and Agriculture Minister Mir Israrullah Zehri, Textile Minister Makhdom Shahabuddin, Deputy Chairman Planning Commission Naeem-ul-Haq, secretary Minfa and secretary textile ministry. The committee noted that Cotton Leaf Curl Virus (CLCV) and white fly are the main threats to the cotton crop, See # 2 Page 11
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US dead set on Davis Vienna cover WASHINGTON: US has asked Pakistan to honour the diplomatic immunity to Raymond Davis, arrested on charges of killing two
Holbrooke's successor arrives tomorrow persons in Lahore, and release him under the Vienna Convention. "We are concerned that the proceedings are ongoing," State Department spokesman P J Crowley told reporters after a Lahore court rejected Davis' claim for diplomatic immunity and said it would go with his trial. "We can't really comment on the litigation itself. We continue to stress to the Pakistani Government and to the Pakistani courts that he has full immunity from criminal prosecution," he said. The court indicated in the See # 7 Page 11
Trio of highups joins PPP
Staff reporter KARACHI: Three prominent political personalities on Friday announced to join Pakistan Peoples Party (PPP) in the presence of Sindh Chief Minister Syed Qaim Ali Shah at the CM House. Among them were Pir Noor Mohammad Shah Jilani, Asfandyar Khan Domki, and Abdul Nabi Sadrani. Addressing a press conference on this occasion, Qaim Ali Shah said the joining of launched in their constituencies. party by prominent personalities is They also proposed changes for a proof that people love further improvement of these proj- "Bhuttoism". ects. See # 10 Page 11 The Parliamentarians included MNAs, Sardar Salim Haider Khan, Humair Hayat Khan Rokhri, Surraiya Asghar, Dr Nelson Azeem and Senator Dr Saeeda Iqbal. Earlier, paying rich tributes to Shahbaz Bhatti, Prime Minister on Friday again made it clear that PPP has lost a loyal worker and an honest person and that the government would do its "utmost" to bring his killers to justice. Prime Minister expressed these views while talking to host of journalists after attending the last rites of late Shahbaz Bhatti in Lady Fatima Church packed with mourners to pay their respects.Agencies
Won’t let investors in B'stan down: PM
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KARACHI: Chief Minister Sindh Syed Qaim Ali Shah addressing a press conference here at CM House. -Online
Let’s comb out Kashmir tangles: Singh JAMMU: Prime Minister Manmohan Singh, who is here on a daylong visit, Friday said India wanted to resolve all outstanding issues with Pakistan, including on Jammu and Kashmir. "We wish to resolve all outstanding issues between the two countries through a friendly dialogue process," he said. "We will enter these talks with an open mind," he added. Addressing the convocation of Sher-eKashmir University of Agriculture Sciences and Technology here, the prime minister said: "We wish to resolve all outstanding issues between the two countries through friendly, constructive
and peaceful negotiations. And this includes the issue of Jammu and Kashmir." "We are willing to discuss all issues that have a bearing on the peace, dignity and well-being of the people of Jammu and Kashmir," he reiterated. But he also voiced concern about terrorism emanating from Pakistan. "We cannot forget what happened in Mumbai," he said referring to the November 2008 terror attack. India and Pakistan have agreed to "resume dialogue on all issues" following a meeting of their foreign secretaries in Bhutan in February.-Online
Khi busmen set wheels back in motion KARACHI: Karachi Transport Association (KTA) has announced to end its ongoing strike after a meeting with Sindh Governor Dr Ishrat-ulEbad Khan here on Friday, local media reported. Talking to pressmen after the meeting, President KTA said, for the time being, there will no raise in public transport fair. He said during the meeting Sindh Governor was apprised about the problems of the KTA. The strike is being called off unconditionally after Sindh Governor's assurance, he added. Later, President KTA See # 11 Page 11
Court frees 8 alleged currency smugglers KARACHI: The Sindh High Court acquitted eight suspects involved in money laundering case here on Friday. The Sindh High Court's Special Banking Court acquitted four suspects of the Khanani and Kalia group and four bank officers as no proof was found against them in money laundering case. The case hit the headlines of the media in 2008. The accused were blamed of money laundering worth billions.-NNI
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