PSX recomposes JS Momentum Factor Index with 5 adjustments

By MG News | Category Equity | September 05, 2024 at 04:52 PM GMT+05:00

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September 05, 2024 (MLN): The Pakistan Stock Exchange Limited (PSX) has conducted the JS Momentum Factor Index (JSMFI) recomposition exercise as of August 30, 2024.

Under the relevant JSMF Index Rules, five adjustments have been made to the index.

The incoming companies are Octopus Digital Limited (OCTOPUS), Mari Petroleum Company Limited (MARI), Agritech Limited (AGL), Pakistan Refinery Limited (PRL), and GlaxoSmithKline Pakistan Limited (GLAXO).

The ones to leave are; Avanceon Limited (PSX: AVN), Fauji Fertilizer Company Limited (FFC), Ghandhara Automobiles Limited (GAL), Habib Bank Limited (HBL), and Sazgar Engineering Works Limited (SAZEW).

Re-composition of JSMFI

S.No	INCOMING	OUTGOING
1	Octopus Digital Limited	Avanceon Limited
2	Mari Petroleum Company Limited	Fauji Fertilizer Company Limited
3	Agritech Limited	Ghandhara Automobiles Limited
4	Pakistan Refinery Limited	Habib Bank Limited
5	GlaxoSmithKline Pakistan Limited	Sazgar Engineering Works Limited

The above changes in the JSMFI will take effect from Friday, September 06, 2024.

In addition, the notice also listed the revised list of JSMFI companies along with their weights in the index as of August 30, 2024.

Recomposed JSMFI

S.no	Symbol	Constituent Companies	Weights
1	AIRLINK	Air Link Communication Limited	20%
2	GHNI	Ghandhara Industries Limited	18.65%
3	FFBL	Fauji Fertilizer Bin Qasim Limited	12.27%
4	OCTOPUS	Octopus Digital Limited	11.45%
5	NBP	National Bank of Pakistan	10.35%
6	MARI	Mari Petroleum Company Limited	9.52%
7	PIAHCLA	PIA Holding Company Limited	6.72%
8	AGL	Agritech Limited	5.12%
9	PRL	Pakistan Refinery Limited	4.01%
10	GLAXO	GlaxoSmithKline Pakistan Limited	1.91%

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