Stocks continue posting losses for third day.

• Position: Financial report

KARACHI -- Stocks extended the fall for the third consecutive day on Monday as the KSE-100 index plunged by 204.32 points, or 0.44 per cent, to close at 45,726.68.

The market started out in a grim mood with the index sinking in the red to intraday low of 217 points. Bulls made several attempts to regain their hold and even managed to pop out of the red and climb to intraday high by 117 points, that saw it break through the 46,000 points.

The last trading hour, however, saw heavy selling pressure in the exploration and production, fertiliser, oil and gas marketing companies, cement and banking sector.

Investors were spooked by the uncertainty over the political events as the opposition parties plan to protest outside the offices of the Election Commission of Pakistan over foreign funding case on Tuesday.

On the economic side, the news of Cabinet Committee on Energy set to meet later in the day to discuss ways to grapple with the LNG crisis, which also included cut in gas supplies to 'a large number of industries on a long-term basis', raised concerns.

Market strategists thought that in such an eventuality their corporate profit projections for the next quarter could go awry, which led to fall in share prices of fertiliser...