Karachi shares fall after killing
The Karachi Stock Exchange's benchmark 100 share index opened 4.7% lower on Monday in the first trading since the assassination of Benazir Bhutto. 
The exchange had been closed for a three day period of national mourning that began on Thursday.
By mid-morning the KSE100 index had fallen 677.7 points to 14,094.38.
Traders say that the declines might be reversed if a deal can be reached with opposition leaders to allow the 8 January elections to go ahead.
Pakistan's currency has also fallen with the rupee at 61.85 to the US dollar, which is its weakest level since October 2001.
"This is a historic fall and is reflective of the unrest in entire country," said Nabeel Jafar from Zafar Moti Capital Securities.
"When there is killing of political leaders and riots after that, who is going to invest in the market?"
Before Monday's falls the KSE100 had risen about 47% in 2007.The Karachi Stock Exchange had already closed on Thursday before Ms Bhutto was assassinated but stock markets elsewhere in the world were hit with New York's Dow Jones average falling 192 points, or 1.4%.
At the same time, the prices of so-called "safe haven" investments such as gold and government bonds rose. The Karachi stock market has a history of recovering after political unrest. When a state of emergency was declared on 3 November, the market fell about 10%, but then regained most of its losses.
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ICICI Bank is India's second-largest bank with total assets of Rs. 3,446.58 billion (US$ 79 billion) at March 31, 2007 and profit after tax of Rs. 31.10 billion for fiscal 2007. ICICI Bank is the most valuable bank in India in terms of market capitalization and is ranked third amongst all the companies listed on the Indian stock exchanges in terms of free float market capitalisation*. The Bank has a network of about 950 branches and 3,300 ATMs in India and presence in 17 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai International Finance Centre and representative offices in the United States, United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established a branch in Belgium.
ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).
"This is a historic fall and is reflective of the unrest in entire country," said Nabeel Jafar from Zafar Moti Capital Securities.
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