Panic selling returned to the Pakistan Stock Exchange (PSX) on Thursday as President ​Donald Trump said the United States would continue ‌to attack Iran, with the benchmark KSE-100 Index sinking by about 5,500 points during the opening minutes of business.

At 9:35am, the benchmark index was hovering at 150,022, down by 5,489 points or 3.45%.

However, by 11:00 the equities recovered some losses and the index was trading at 151,621.26 points down by 3,890.30 or 2.57 percent.

Experts opined that the jubilation of yesterday’s market halt has been completely wiped out as the ‘ceasefire rally’ crashed into a harsh geopolitical reality.

Offloading was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation.

Index-heavy stocks, including MARI, OGDC, POL, PPL, MCB, MEBL, NBP and UBL, traded in the red.

On Wednesday, the PSX had staged a powerful rally with the benchmark KSE-100 Index surging past the key psychological barrier of 150,000 points as improving investor sentiment.

The KSE-100 Index closed at 155,511.57 points, registering a sharp gain of 6,768.25 points or 4.55%.

Islamabad: Pakistan and Romania have taken a significant step toward strengthening bilateral economic ties by signing a Memorandum of Understanding on port cooperation.

The agreement was signed between the National Company “Maritime Ports Administration” S.A. Constanța and the Karachi Port Trust during a virtual ceremony.

The MoU was formalized by Mihai Teodorescu, General Manager of Constanța Port Administration, and Rear Admiral Shahid Ahmed, Chairman of Karachi Port Trust.

Senior officials from the Ministries of Foreign Affairs and Transport of both countries attended the ceremony, along with ambassadors Dan Stoenescu and Ilyas Mehmood Nizami. Representatives from the Pakistan-Romania Business Council were also present.

The agreement aims to enhance maritime connectivity between Karachi Port and the Port of Constanța on the Black Sea, facilitating smoother trade flows between South Asia and Europe.

It is expected to support Pakistan’s maritime sector and blue economy while strengthening Romania’s position as a key logistical gateway to the European Union.

Constanța Port, one of the largest ports on the Black Sea, provides strategic access to Central and Western Europe via the Danube corridor.

This route enables efficient transport of goods to major European hubs, offering a cost-effective and sustainable logistics solution.

Officials say improved connectivity between the two ports will open new avenues for bilateral trade. Romanian exports—including machinery, industrial equipment, chemicals, and agricultural products—are likely to gain better access to Pakistani and regional markets.

At the same time, Pakistani exports will benefit from more efficient entry points into Europe.

The agreement also establishes a framework for cooperation in port management, training, and exchange of expertise, including the formation of a joint working group.

Romanian Ambassador Dan Stoenescu emphasized that the initiative will help expand Romania’s economic footprint in Asia and contribute to balanced trade growth. He noted that enhanced maritime links will play a vital role in strengthening regional integration and promoting shared prosperity.

Maritime trade remains central to the European Union’s economy, with more than 75 percent of its external trade conducted by sea.

In this context, stronger Pakistan-Romania maritime ties are expected to boost trade under the EU’s GSP+ scheme, supporting economic development and deeper integration into global value chains.

Oven Pride household goods group McBride has revealed “temporary” price hikes to cover increased costs from the Iran war and warned it was seeing the first signs of supply shortages caused by the conflict.

The group, which makes branded and white label household and cleaning products for the likes of Tesco and Sainsbury’s, said until now it had only seen a small impact from higher haulage costs due to fuel price rises, but said “these conditions have now started to change”.

It said the “most heavily impacted” chemical and packaging suppliers are pushing through price increases as they face rising costs for petrochemical-derived feedstocks and higher energy costs in chemical and packaging production.

“The first signs of possible shortages in supply chains around the world are beginning to emerge,” it added.

McBride said its costs are increasing this month and will rise further due to the war, and is set to lift prices to offset the hit.

“The group has already informed all customers about temporary price adjustments, or surcharges to current pricing, to recover these higher, beyond our control, cost impacts from the Middle East conflict,” McBride said.

The warnings come amid mounting worries over the impact of the conflict on supply and costs, having sent oil prices surging above 100 US dollars a barrel and causing widespread disruption to global shipping.

Supermarkets met with Chancellor Rachel Reeves and Energy Secretary Ed Miliband at No 11 on Wednesday to look at issues caused by the war and agreed to explore together how to ease the cost-of-living impact for consumers.

McBride’s comments came in an update as it also announced a £34.5 million deal to buy Eurotab – a French-based specialist in cleaning tablets, such as for dishwashers.