Karachi: The Pakistan Stock Exchange Limited has announced a significant re-composition of the JS Momentum Factor Index (JSMFI), effective from Monday, September 7, 2026. The re-composition exercise was conducted as of August 31, 2026, in accordance with the index rules available on the PSX website.

The re-composition includes five new entrants to the index: Pakistan Petroleum Limited, Thatta Cement Company Limited, Pakistan State Oil Company Limited, Maple Leaf Cement Factory Limited, and Sui Southern Gas Company Limited. These companies replace Ghandhara Industries Limited, Habib Bank Limited, Meezan Bank Limited, Pakistan Telecommunication Company Ltd., and United Bank Limited, respectively.

According to information available from the Pakistan Stock Exchange (PSX), the newly composed JSMFI will see Pakistan Refinery Limited holding the most significant weight at 15.13%. Other companies with considerable weightage include Cnergyico PK Limited at 13.72%, Maple Leaf Cement Factory Limited at 13.06%, and Pakistan State Oil Company Limited at 12.35%. National Refinery Limited and Pakistan Petroleum Limited also hold substantial weights of 12.22% and 12.11%, respectively.

The changes reflect the PSX's ongoing strategy to align the index with current market dynamics. This recomposition is indicative of shifting trends within the designated market category, which sees an increased representation of the oil, cement, and gas sectors. These sectors are anticipated to drive momentum in the index following the latest adjustments.