NEW DELHI: Pakistan's Karachi Stock Exchange 100 index jumped over 2 per cent in Wednesdays trade as the nation went to polls to elect a new government.More than 30 political parties have fielded candidates in the elections, where cricketer-turned-politician Imran Khans Tehreek-e-Insaf Pakistan Muslim League is fighting a fierce battle against former prime minister Nawaz Sharif's PML-N (the ruling party).
The Pakistan Peoples Party (PPP), led by Bilawal Bhutto Zardari, is also in the race.At 11 am, the 100-pack index traded 875 points, or 2.16 per cent, higher at 41,339.Voting began at 8 am local time at more than 85,000 polling stations.
Counting of votes will be done on the spot soon after the conclusion of the polling process at 6 PM and results are likely within 24 hours, PTI reported.
Some 3,459 candidates are contesting for 272 general seats in the National Assembly, while 8,396 candidates are running for 577 general seats in the four provincial assemblies.Pakistan's National Assembly comprises 342 members, of which 272 will be elected directly today and the rest 60 seats reserved for women and 10 for religious minorities will be selected later through proportional representation among parties with more than five per cent of votes.