Karachi: The Pakistan Stock Exchange Limited has completed the re-composition of the JS Momentum Factor Index (JSMFI) as of June 28, 2024, according to the established index rules. This revision includes significant changes in the index's constituents, with several key companies being added and removed.

According to information available from the Pakistan Stock Exchange (PSX), the newly included companies are The Hub Power Company Limited, Air Link Communication Limited, NetSol Technologies Limited, Habib Bank Limited, United Bank Limited, Octopus Digital Limited, Fauji Fertilizer Company Limited, Faysal Bank Limited, and Unity Foods Limited. These companies replace D.G. Khan Cement Company Limited, Fauji Cement Company Limited, Ghandhara Industries Limited, Hum Network Limited, International Industries Limited, International Steels Limited, Meezan Bank Limited, Mughal Iron and Steel Industries Limited, and Systems Limited.

The new composition of the JSMFI features Sazgar Engineering Works Limited as the top constituent with a weight of 20.00%, followed by The Hub Power Company Limited and Air Link Communication Limited with significant weights of 16.02% and 13.74% respectively. Other notable companies in the index include NetSol Technologies Limited and Habib Bank Limited with weights of 13.55% and 9.27%.

These changes, effective July 5, 2024, reflect a strategic shift in the index to accommodate the momentum of the companies that are performing well in the current economic landscape.