Karachi: The Pakistan Stock Exchange Limited has announced a strategic re-composition of the JS Momentum Factor Index (JSMFI), effective from November 7, 2025. The re-composition, carried out as of October 31, 2025, aligns with the established index rules.
The shifts in the index see the inclusion of Pakistan Telecommunication Company Ltd, Fauji Fertilizer Company Limited, The Searle Company Limited, Air Link Communication Limited, Pakistan International Bulk Terminal, Askari Bank Limited, and Pakistan Stock Exchange Limited. These entries replace outgoing companies D.G. Khan Cement Company Limited, Fauji Foods Limited, The Hub Power Company Limited, Mari Energies Limited, National Refinery Limited, Treet Corporation Limited, and TRG Pakistan Limited.
The re-composition reflects a notable change in the index’s structure, as evidenced by the updated weights of the constituent companies. The Bank of Punjab leads with a commanding 20.00% weight, closely followed by the National Bank of Pakistan at 19.66%. Pakistan Telecommunication Company Ltd, a new entrant, holds a 12.06% weight, while Fauji Fertilizer Company Limited carries a weight of 10.82%.
According to information available from the Pakistan Stock Exchange (PSX), The Searle Company Limited, another new addition, contributes 9.48% to the index. Air Link Communication Limited also joins with a weight of 7.65%, and Pakistan International Bulk Terminal holds 4.93%. Askari Bank Limited and the Pakistan Stock Exchange Limited, the latter being the index’s namesake, make up the remainder with weights of 3.90% and 1.71%, respectively.
The re-composition highlights the dynamic nature of the market and the importance of strategic adjustments to maintain the index’s relevance and performance. The changes will be implemented on November 7, 2025, as the market adapts to this restructured landscape.