Pakistan stocks end flat on global cues

Pakistani stocks ended flat on Monday, recovering from an early decline of more than 2.6 per cent after bargain hunters snapped up cheap shares, dealers said. The Karachi Stock Exchange’s benchmark 100-share index closed 0.4 per cent, or 4.96 points, higher at 11,380.05 on turnover of 106.74 million shares.The KSE-index took its cues from regional markets in early trade, which declined after the US credit rating downgrade. “Investors started accumulating shares at lower levels which led to the recovery at the local bourse,” said Sajid Bhanji, director at Arif Habib Ltd. From / Gulf Today