Karachi: In a recent update, the Pakistan Stock Exchange Limited has completed the re-composition of the JS Momentum Factor Index (JSMFI) as of October 30, 2026, reflecting significant changes in its constituent companies. This exercise was executed in accordance with the index rules outlined on the PSX website.

According to information available from the Pakistan Stock Exchange (PSX), several companies have been added to the index while others have been removed. Notably, Pakistan Refinery Limited, Cnergyico PK Limited, and Pakistan State Oil Company Limited are among the incoming companies, replacing National Refinery Limited, Attock Refinery Limited, and Mari Energies Limited, respectively. Other additions include Ghandhara Industries Limited, Fauji Fertilizer Company Limited, Treet Corporation Limited, MCB Bank Limited, and Thatta Cement Company Limited. These replace Engro Holdings Limited, Pakistan Oilfields Limited, TRG Pakistan Limited, Adamjee Insurance Company Limited, and Javedan Corporation Limited.

As of the designated market date, October 30, 2026, the weights of the newly constituted index are led by Pakistan Refinery Limited and Cnergyico PK Limited, each holding a 20.00% share. Pakistan State Oil Company Limited follows with a weight of 18.98%, while Fauji Fertilizer Company Limited and Thatta Cement Company Limited hold 10.40% and 10.07%, respectively. The remaining constituents include Askari Bank Limited at 4.89%, MCB Bank Limited at 4.69%, Ghandhara Industries Limited at 4.37%, Engro Fertilizers Limited at 4.03%, and Treet Corporation Limited at 2.58%.

This re-composition of the JSMFI reflects ongoing adjustments to align with market trends and investor interests, ensuring the index remains a relevant benchmark in the financial landscape.