KARACHI: Pakistan stock market came under correction again after three- day rise. The market came under profit-taking due to an increase in prices that provoked investors to book some gains before fresh investments.
The benchmark KSE-100 Index was trading at 48,051.71 down 250 points at 12:15 pm compared to the previous close.
The market started the day in positive; however, the selling pressure pushed the index in negative within the first 15 minutes of the trade. Despite several attempts of recovery overall movement remained range-bound.
Traders and analysts term the intra-day correction healthy as it will prove positive for strengthening of the market.
They expect the market to regain upward momentum fast as there are hopes related to budget developments and corporate announcements ahead.