BMA Today for November 20, 2008 
 
     THURSDAY 20 November 2008 
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At a Glance

Previous Market Session
Local Market    
 KSE 100 9,184.09

►

 0
 KSE MKTCAP PKRbn 2,826.96

▲

 0.12
 10YR PIB 16.63

►

 0
 6M KIBOR 15.68

▼

 0.01
 PKR/USD 81.25

►

 0
Asia Pacific    
 BSE SENSEX 30 8,773.78

▼

 163.42
 NIKKEI 225 8,273.22

▼

 55.19
 STRAITS TIMES INDEX 1,665.59

▼

 26.96
 KUALA LUMPUR 877.65

▼

 5.44
 JAKARTA COMP. 1,180.36

▼

 9.5
 THAI SET 50 408.51

▼

 11.46
Middle East    
 DFM GENERAL 2,053.15

▲

 20.01
 TADAWUL ALL SHARE 4,880.44

▼

 89.52
 MSM30 INDEX 6,035.72

▲

 81.92
 KUWAIT SE WEIGHTED 454.22

▲

 22.13
 DSM 20 INDEX 5,760.73

▲

 10.65
Global Markets    
 OIL (NYMEX) 53.62

▼

 0.77
 US 10YrBOND 3.32

▼

 0.21
 LIBOR6MTH 2.58

▼

 0.05
 FTSE 100 4,005.68

▼

 202.87
 DOWJONES 7,997.28

▼

 427.47
 S&P 500 806.58

▼

 52.54
       
 
In Focus
OMC: At the Pump - 3MFY09

   According to the latest official data released by the OCAC (Oil Companies Advisory Committee) POL sales volume have decreased by 2.6% YoY from 4.7mn tons in 1QMFY08 to 4.6mn tons in 1QFY09

   Sales volume has been hit mainly by Mogas, FO, LDO and Kerosene. However, HSD supported volumes, increasing by 2.0% YoY

   Shell outperformed the industry in volumetric sales, growing by 1.2% YoY

   At current levels, PSO remains our top pick in the industry with a fair value of PKR365, representing an upside of 36.5% from current levels

Click to Read More

Media Watch

Economy: Cabinet approves economic stabilization plan \ Business Recorder

Economy: Rs103bn parked in T-bills after yields raised \ Dawn
Market: Oil falls to 22-months low on demand, stock build \ Business Recorder
Click to Read More

Breakout
KSE 100 Index: Bullion spiked but receded again

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   Previous Session
Equity Round Up
No change at KSE100 index

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Forex Round Up
The rupee is expected to trade in a range of 79.10-79.40

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Fixed Income Round Up
SBP picked up PKR103.5bn in a T-bill auction

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DISCLAIMER
This memorandum is produced by BMA Capital Management Limited and is only for the use of their clients. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and should not be relied upon as such. Opinions expressed may be revised at any time. This memorandum is for information only and is not an offer to buy or sell, or solicitation of any offer to buy or sell the securities mentioned.