Karachi: The Pakistan Stock Exchange Limited (PSX) has announced a significant recompositing of the JS Momentum Factor Index (JSMFI), reflecting a strategic shift in the index's constituent companies. This update, based on data as of September 30, 2026, will take effect from October 7, 2026, as detailed in the latest report.

According to the report, eight companies are set to join the index, replacing an equal number of outgoing firms. In the energy sector, Mari Energies Limited will replace Pakistan Refinery Limited, while Engro Holdings Limited and Askari Bank Limited are set to supplant Cnergyico PK Limited and Maple Leaf Cement Factory Limited, respectively.

The reshuffling continues with Pakistan Oilfields Limited and TRG Pakistan Limited taking the places of Pakistan State Oil Company Limited and Pakistan Petroleum Limited. Additionally, Engro Fertilizers Limited and Adamjee Insurance Company Limited will replace Ghandhara Automobiles Limited and Thatta Cement Company Limited. Javedan Corporation Limited rounds out the list of new entrants, replacing Sui Southern Gas Company Limited.

The reconstitution of the index has resulted in a redistribution of weights among the constituent companies. National Refinery Limited and Attock Refinery Limited each hold a significant weight of 20.00% in the index. Mari Energies Limited has been assigned a weight of 14.46%, while Engro Holdings Limited is weighted at 11.74%. Askari Bank Limited follows with a weight of 8.10%.

Further down the list, Pakistan Oilfields Limited and TRG Pakistan Limited receive weights of 7.35% and 6.42%, respectively. Engro Fertilizers Limited is assigned a weight of 5.48%, with Adamjee Insurance Company Limited and Javedan Corporation Limited holding smaller weights of 3.60% and 2.85%.

According to information available from the Pakistan Stock Exchange (PSX), these changes represent a recalibration of the JSMFI to better align with current market dynamics and investor interests. The revised index composition is designed to reflect the momentum factor, ensuring that the index remains a robust tool for market participants.

As these changes take effect, stakeholders will be closely monitoring the impact on market performance and investment strategies within the designated market category.