Stocks fall for third day on profit-taking

KARACHI: The stock market was on a losing streak for the third consecutive day as investors indulged in profit-taking on pre-budget uncertainty.

Ahsan Mehanti of Arif Habib Corporation said the market extended overnight losses on pre-budget uncertainty and reports of falling fertiliser and cement sales.

Urea sales plunged 49 per cent month-on-month to 328,000 tonnes in April, hitting a three-year low. DAP sales also declined 12pc to 92,000 tonnes month-on-month.

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