PSX recomposes JS Momentum Factor Index with six adjustments

MG News | August 06, 2024 at 07:58 PM GMT+05:00

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August 06, 2024 (MLN): The Pakistan Stock Exchange Limited (PSX) has conducted the JS Momentum Factor Index (JSMFI) recomposition exercise as of July 31, 2024.

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

The incoming companies are Ghandhara Automobiles Limited (GAL), National Bank of Pakistan (NBP), Ghandhara Industries Limited (GHNI), Fauji Fertilizer Bin Qasim Limited (FFBL), Avanceon Limited (AVN) and PIA Holding Company Limited (PIAHCLA).

The ones to leave are; Faysal Bank Limited (PSX: FABL), The Hub Power Company Limited (HUBCO), NetSol Technologies Limited (NETSOL), Octopus Digital Limited (OCTOPUS), United Bank Limited (UBL), and Unity Foods Limited (UNITY).

Re-composition of JSMFI

S.No	INCOMING	OUTGOING
1	Ghandhara Automobiles Limited	Faysal Bank Limited
2	National Bank of Pakistan	The Hub Power Company Limited
3	Ghandhara Industries Limited	NetSol Technologies Limited
4	Fauji Fertilizer Bin Qasim Limited	Octopus Digital Limited
5	Avanceon Limited	United Bank Limited
6	PIA Holding Company Limited	Unity Foods Limited

The above changes in the JSMFI will take effect from Wednesday, August 07, 2024.

In addition, the notice also listed the revised list of JSMFI companies along with their weights in the index as of July 31, 2024.

Recomposed JSMFI

S.no	Symbol	Constituent Companies	Weights
1	SAZEW	Sazgar Engineering Works Limited	20%
2	AIRLINK	Air Link Communication Limited	17.14%
3	GAL	Ghandhara Automobiles Limited	13.07%
4	HBL	Habib Bank Limited	11.18%
5	GHNI	Ghandhara Industries Limited	8.96%
6	FFBL	Fauji Fertilizer Bin Qasim Limited	7.59%
7	NBP	National Bank of Pakistan	6.80%
8	FFC	Fauji Fertilizer Company Limited	5.36%
9	AVN	Avanceon Limited	5.29%
10	PIAHCLA	PIA Holding Company Limited	4.60%

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