Karachi: The Pakistan Stock Exchange Limited (PSX) has announced significant changes to the JS Momentum Factor Index (JSMFI), set to take effect from August 07, 2024.

On July 31, 2024, PSX completed the re-composition of the JSMFI, adhering strictly to the index rules provided on their official website. This update brings new constituents into the index, replacing several outgoing companies. The shift includes the introduction of companies like Ghandhara Automobiles Limited and National Bank of Pakistan, replacing Faysal Bank Limited and The Hub Power Company Limited, among others.

According to information available from the Pakistan Stock Exchange (PSX), the updated composition of the JSMFI as of July 31, 2024, features Sazgar Engineering Works Limited at the top with a significant 20.00% weight. Following closely are Air Link Communication Limited and Ghandhara Automobiles Limited with weights of 17.14% and 13.07%, respectively. Other notable inclusions are Habib Bank Limited, Fauji Fertilizer Bin Qasim Limited, and PIA Holding Company Limited, delineating a diverse mix of sectors from banking to telecommunications and automotive.

The full list of incoming companies also includes Ghandhara Industries Limited, Fauji Fertilizer Bin Qasim Limited, Avanceon Limited, and PIA Holding Company Limited, each replacing respective outgoing entities like NetSol Technologies Limited, Octopus Digital Limited, United Bank Limited, and Unity Foods Limited.

This strategic adjustment in the JSMFI is expected to influence trading behaviors and investment strategies amongst the investors keenly watching these changes.