KARACHI - Stock market showed recovery on Monday amid turmoil in global equities and crud oil price. PSX 100-share index gained 39.08 points (0.11%) to close at 36979.96 points.

Triggers remained scarce at the local bourse as activity remained restricted in select sectors. Although regional markets were in the red and some correction was seen in international oil prices, market remained resilient, dealers said.

The major index mover was the oil sector that remained under pressure as global crude oil prices fell nearly 3% over the weekend as US stockpiles continued to rise. Top laggard of the sector was OGDC (down 1.19%).

Marginal positivity was witnessed in the food sector that rallied on back of news that government hinted at conceding some ground as FrieslandCampina representatives met Finance minister over the weekend. EFOODS (up 2.90%) and SHEZ (1.83%) were the top performers of the sector.

Marginal positivity was witnessed in the scrips that are expected to form part of MSCI Emerging market index as MCB (up 1.76%) and HBL (1.15%) both closed in the green zone, observed analyst Ahmed Saeed Khan.

Volume rose 28% to 139m shares and traded value increased 7% to Rs7.5m/$72m. K-Electric (KEL) was volume leader with 35.9m shares.

Investors took positions in banking sector stocks which were in the green as BKTi index (index comprised of banking sector scrips) rose 1.2%. Among select stocks, Habib Bank (HBL), MCB bank (MCB) and United Bank (UBL) rose by 1.2-1.9% in yesterday’s trading, brokers said.