Karachi: Pakistan's Karachi Stock Exchange (KSE) 100 Index fell 8.62, or 0.1 per cent, to 10,553.12 yesterday.
MCB Bank Ltd, the biggest by market value, fell 1.3 per cent to Rs212.79 after it estimated single-digit loan growth for 2010, according to a note by Raza Jafri, investment analyst at AKD Securities Ltd.
"It was unexpected because we were estimating loan growth of 13 per cent to 14 per cent this year," Jafri said. "This gave a negative signal to investors."
Bank of Punjab Ltd, Pakistan's biggest regional financial services firm, fell 2 per cent to Rs14.15 after media reported a delay in the extradition of its former chief executive, who is charged with fraud. "There was a hope to recover some funds but now it seems it will take more time which is a bad sign," said Khurram Schehzad, head of research at Invest Capital & Securities.
