PSX recomposes JS Momentum Factor Index with 5 adjustments

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MG News | 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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