Karachi: The Pakistan Stock Exchange Limited has announced a significant recomposition of the JS Momentum Factor Index (JSMFI) effective from August 7, 2025. This recalibration, based on the index rules available on the PSX website, has introduced notable changes to the list of constituent companies, reflecting shifting market dynamics and investor priorities.

As of July 31, 2025, the JSMFI saw the inclusion of several major companies, including Fauji Fertilizer Company Limited, United Bank Limited, Ghandhara Automobiles Limited, Engro Holdings Limited, Ghandhara Industries Limited, Askari Bank Limited, The Bank of Punjab, and Systems Limited. These firms have replaced BankIslami Pakistan Limited, Faysal Bank Limited, Meezan Bank Limited, National Foods Limited, Nishat Mills Limited, PIA Holding Company Limited, Sui Southern Gas Company Limited, and Treet Corporation Limited in the index.

The reshuffle of companies is expected to influence the market category designated by the Pakistan Stock Exchange, providing new investment opportunities for stakeholders. According to information available from the Pakistan Stock Exchange (PSX), the weights assigned to the new constituents of the JSMFI are as follows: Fauji Fertilizer Company Limited holds a weight of 13.17%, United Bank Limited 13.01%, and National Bank of Pakistan 12.39%. Additionally, Ghandhara Automobiles Limited and Habib Bank Limited have weights of 12.08% and 11.76%, respectively. Other notable weights include Engro Holdings Limited at 9.73%, Ghandhara Industries Limited at 7.97%, Askari Bank Limited at 7.42%, The Bank of Punjab at 6.67%, and Systems Limited at 5.79%.

These adjustments, implemented from August 7, 2025, are poised to bring changes to the market landscape, as the JSMFI seeks to align with the prevailing economic conditions and investor interests. The recomposition represents a Very Large or Significant Move, marking a new chapter in the index's ongoing evolution.