© Reuters.The market is located near the army headquarters in Pakistan's Rawalpindi.
Those who died included six military personnel and eight civilians, a senior official told the BBC.
The explosion happened in a crowded market near Pakistan's army headquarters.
The incident comes a day after 20 soldiers were killed in the north-west of the country when a bomb blast struck an army convoy.
At least 24 others were injured in that explosion, which Pakistan's Taliban said it had carried out.
Soldiers and paramilitary forces were planning to leave Bannu town, in Khyber Pakhtunkhwa province, for Razmak in North Waziristan, when their convoy was rocked by the blast.
It was not immediately clear who was behind Monday's attack in Rawalpindi, located just south of the capital, Islamabad.
Rawalpindi Police Chief Akhtar Hayat Lalika told Reuters news agency that the market, 10 minutes away on foot from the army base, was in one of the most secure areas of the city.
A resident was quoted by AFP news agency as saying that windows in nearby buildings were shattered in the blast.
"The intensity of the blast threw me off my chair. I rushed outside and saw smoke and smoke everywhere. I saw injured laying and screaming on ground," shop owner Liaqat Ali said.
The two most recent attacks mark a swift escalation of violence and are among the most serious assaults on the military in recent months.
Correspondents say they will refresh concerns about Pakistan's strategy for dealing with militancy.
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