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July 07, 2026 (MLN): The Pakistan Stock Exchange (PSX) has finalized the rebalancing of the JS Momentum Factor Index (JSMFI) as of June 30, 2026, in compliance with the index’s established rules. The revised composition, effective Tuesday, July 7, 2026, incorporates eight newly added companies while removing eight existing constituents.
New Entrants and Exits from JSMFI
| S.No. | Incoming Companies | Outgoing Companies |
|---|---|---|
| 1 | Sui Southern Gas Company Limited (SSGC) | Air Link Communication Limited |
| 2 | Sui Northern Gas Pipelines Limited (SNGP) | Fauji Cement Company Limited |
| 3 | Ghandhara Automobiles Limited (GAL) | FrieslandCampina Engro Pakistan Limited |
| 4 | Thatta Cement Company Limited (THCCL) | Fauji Fertilizer Company Limited |
| 5 | PIA Holding Company Limited (PIAHCLA) | Pakistan Petroleum Limited |
| 6 | Pakistan Stock Exchange Limited (PSX) | Pakistan Telecommunication Company Ltd (PTCL) |
| 7 | Interloop Limited (ILP) | Sazgar Engineering Works Limited |
| 8 | The Organic Meat Company Limited (TOMCL) | TRG Pakistan Limited |
Updated JSMFI Constituents and Weights
| S.No. | Symbol | Company | Weight |
|---|---|---|---|
| 1 | MLCF | Maple Leaf Cement Factory Limited | 20.00% |
| 2 | DGKC | D.G. Khan Cement Company Limited | 20.00% |
| 3 | SNGC | Sui Southern Gas Company Limited | 13.75% |
| 4 | SNGP | Sui Northern Gas Pipelines Limited | 12.88% |
| 5 | GAL | Ghandhara Automobiles Limited | 8.00% |
| 6 | THCCL | Thatta Cement Company Limited | 6.54% |
| 7 | PIAHCLA | PIA Holding Company Limited | 5.81% |
| 8 | PSX | Pakistan Stock Exchange Limited | 4.53% |
| 9 | ILP | Interloop Limited | 4.45% |
| 10 | TOMCL | The Organic Meat Company Limited | 4.05% |
The revised index structure places the highest weights at 20% with both Maple Leaf Cement Factory Limited (MLCF) and D.G. Khan Cement Company Limited (DGKC), underscoring their significant momentum-driven market performance. The JSMFI is formulated to identify and track companies exhibiting robust momentum characteristics, aligned with PSX’s defined methodology. These adjustments reflect PSX’s ongoing commitment to maintaining the index’s relevance and effectiveness in capturing prevailing market trends and investor sentiment.
