Karachi: The Pakistan Stock Exchange has announced the latest adjustments to the JS Momentum Factor Index (JSMFI), effective from August 7, 2026. The changes, finalized after a re-composition exercise conducted on July 31, align with the index's rules as outlined on the PSX website.
The re-composition introduces several new companies into the JSMFI. The incoming companies include Pakistan Refinery Limited, United Bank Limited, Cnergyico PK Limited, Meezan Bank Limited, National Refinery Limited, Ghandhara Industries Limited, Attock Refinery Limited, Pakistan Telecommunication Company Ltd, and Habib Bank Limited. They replace outgoing companies such as Maple Leaf Cement Factory Limited, Sui Northern Gas Pipelines Limited, Pakistan Stock Exchange Limited, Sui Southern Gas Company Limited, Thatta Cement Company Limited, Interloop Limited, D.G. Khan Cement Company Limited, PIA Holding Company Limited, and The Organic Meat Company Limited.
The recalibrated index features United Bank Limited as the top-weighted constituent, holding an 18.73% share, followed by Meezan Bank Limited with a 12.77% weight. Pakistan Refinery Limited and Habib Bank Limited hold significant positions with weights of 10.03% and 9.59%, respectively. The index also includes Ghandhara Automobiles Limited, Attock Refinery Limited, National Refinery Limited, Pakistan Telecommunication Company Ltd, Cnergyico PK Limited, and Ghandhara Industries Limited, with weights ranging from 9.20% to 6.29%.
According to information available from the Pakistan Stock Exchange (PSX), these changes reflect the current market dynamics and are expected to influence investment strategies. The adjustments are part of a regular review process aimed at maintaining the index's relevance and alignment with market trends.
The designated market category for these changes remains within the equity sector, underscoring the PSX's efforts to offer a diversified range of investment opportunities. The implementation of these changes is set to alter the landscape of the JSMFI, potentially affecting traders and investors within the market.