The Pakistan Stock Exchange closed on a positive note on Friday, the last trading session of the year 2023, gaining around 400 points on the back of positive development on the economic front.

The benchmark KSE-100 index gained 398.81 points or 0.64% to settle at 62,451.04 levels at the closing of the market.

Similarly, the KSE-30 Index gained 99.33 points or 0.48% to reach 20,776.54 levels at the closing of the trading on the last trading session of the week.

According to trade analyst Mohammad Sohail, Pakistan’s foreign exchange reserves increased by $850 million for the week ending on December 22.

Many market participants were not expecting this before the IMF tranche, which is likely next month, he said in a statement.

“Our channel checks suggest these were multilateral inflows. This will not only help stabilise PKR but will also help in achieving Dec end IMF targets,” he added.