Karachi: Pakistan's benchmark stock index fell for a second day on speculation over the successor of Finance Minister Shaukat Tarin.
Habib Bank Ltd, Pakistan's second-biggest by assets, fell 1 per cent to Rs123.87. MCB Bank Ltd, the nation's biggest lender by market value, declined 2.3 per cent to Rs216.21. Pak Suzuki Motor Co, the largest carmaker, sank 2.3 per cent to Rs89.99.
"There is uncertainty over who the new finance minister will be," said Khalid Iqbal, head of research at Invest & Finance Securities Ltd in Karachi. "There are concerns about dealing with the International Monetary Fund and whether the new finance minister would be able to control the fiscal situation."
The Karachi Stock Exchange 100 Index retreated 137.39, or 1.4 per cent, to 9,686.18, its steepest one-day slide since January 21.
