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The Karachi Stock Exchange (KSE) benchmark 100-share index jumped 3.5 per cent in early trade after electoral authorities declared a six-week delay to general elections and the president said Britain would help with investigations into last week's assassination of Prime Minister Benazir Bhutto.
At 0515 GMT, the index was up 475.30 points at 13,828.68 on turnover of about 40 million shares.
"Apart from the market bouncing back after an almost 10 per cent fall, investors have become optimistic as President (Pervez) Musharraf has given a clear cut time frame for elections and met most of the demands of the opposition parties," said Sajid Bhanji a dealer at brokers Arif Habib Ltd.
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