PSX INDEX · JSMFI

JS Momentum Factor

A factor index published with JS, built around price momentum.

JSMFI · 23 Sep 2026

44,497.17

+1743.93 (+4.08%) today

Day range 42,971 – 44,703

1-year change: +6.73%
Day high: 44,703.49
Day low: 42,971.32

Equivest keeps a daily history for the KSE-100, KSE-30, KMI-30 and All-Share; this index shows the latest level and one-year change from PSX.

What the JS Momentum Factor is

A factor index selects companies on a measurable characteristic rather than on size or sector. This one is built around momentum: broadly, holding what has been rising and dropping what has not, reapplied on a schedule.

Factor indices are useful as a mirror. If a momentum basket is beating the broad market, trend-following has been paying in Pakistan lately; if it is lagging, it has not.

The Pakistan Stock Exchange calculates and publishes it; the exchange’s index methodology documents are the authority on eligibility, weighting and recomposition, and they change from time to time.

As of 23 Sep 2026 the JS Momentum Factor holds 10 companies worth Rs 1.3T between them, and 87% of that value sits in oil & gas exploration companies, refinery and oil & gas marketing companies. The largest members by market value are PPL, PSO, ATRL, MLCF and CNERGY. On the last session 8 rose and 2 fell. The median constituent trades at 5.7× trailing earnings and yields 0.64%, and is −1.1% so far this year.

Where the value sits

JS Momentum Factor constituents

All 10 companies the exchange lists in this index, largest first, with the valuation and returns from our own PSX data. Tap a column to sort.

JS Momentum Factor constituents
Symbol	Company	Sector	Price	Chg %	Mkt cap Market cap What the whole company costs at today's price. How it's worked out Share price multiplied by every share in issue. How to read it It is the company's size, not its value. A big number is not expensive and a small one is not cheap — that is what the multiples below are for.	P/E P/E ratio Rupees you pay for each rupee the company earned last year. How it's worked out Share price divided by earnings per share over the last twelve reported months. How to read it Lower looks cheaper, but only against something — the same company's history, its sector, or the market. A P/E on its own means very little, and it is blank when a company lost money.	Yield Dividend yield Cash paid out over the last year as a percentage of today's price. How it's worked out Dividends per share over twelve months divided by the share price. How to read it A very high yield is often a warning, not a gift: it usually means the price fell. Check the payout ratio next to see whether earnings actually cover it.	YTD Year-to-date return How the share price has moved since 1 January, before dividends. How it's worked out Today's price against the last close of the previous year, as a percentage. How to read it It is a PRICE return, so a company that paid a large dividend looks worse here than a holder actually did. The calendar start is arbitrary — a stock that fell in December and recovered in January looks strong for reasons that have nothing to do with the business.	1Y One-year return How the share price has moved over the last twelve months, before dividends. How it's worked out Today's price against the close twelve months ago, adjusted for bonus issues and splits, as a percentage. How to read it Price only. For what a holder actually made, including dividends, see total return — on a high-yield PSX name the two differ by most of the yield.	Trend
PPL	Pakistan Petroleum Limited	Oil & Gas Exploration Companies	232.83	+1.01%	Rs 634B	6.4×	3.65%	−1.15%	+21.15%	Sideways
PSO	Pakistan State Oil Company Limited	Oil & Gas Marketing Companies	352.54	+1.06%	Rs 166B	3.8×	2.84%	−25.65%	−22.97%	Leaning Down
ATRL	Attock Refinery Limited	Refinery	1,173.72	+4.52%	Rs 125B	5.7×	0.64%	+71.74%	+74.75%	Leaning Up
MLCF	Maple Leaf Cement Factory Limited	Cement	96.07	−0.12%	Rs 101B	11.9×	—	−18.19%	−10.19%	Leaning Down
CNERGY	Cnergyico PK Limited	Refinery	14.31	+8.41%	Rs 78.6B	5.0×	—	+94.43%	+68.35%	Leaning Up
PRL	Pakistan Refinery Limited	Refinery	95.88	+9.79%	Rs 60.4B	3.8×	—	+161.68%	+171.15%	Leaning Up
NRL	National Refinery Limited	Refinery	564.98	+7.58%	Rs 45.2B	7.3×	—	+37.33%	+50.52%	Leaning Up
THCCL	Thatta Cement Company Limited	Cement	77.99	−0.55%	Rs 38.9B	5.3×	—	−7.35%	+51.26%	Leaning Up
GAL	Ghandhara Automobiles Limited	Automobile Assembler	538.48	+0.11%	Rs 30.7B	8.9×	1.86%	−2.05%	−11.97%	Leaning Down
SSGC	Sui Southern Gas Company Limited	Oil & Gas Marketing Companies	24.46	+3.51%	Rs 21.5B	—	2.04%	−31.90%	−44.50%	Trending Down

Membership is the exchange's; prices, valuation and returns are Equivest's PSX data as of 23 Sep 2026. Trend is a description of the price series, not advice — how it is computed.

Quick answers

What is the JS Momentum Factor index level today?

The JS Momentum Factor closed at 44,497.17 on 23 Sep 2026, +1743.93 points (+4.08%) on the session.

How has the JS Momentum Factor performed over one year?

PSX data puts the JS Momentum Factor's one-year change at +6.73% as of 23 Sep 2026.

Which companies are in the JS Momentum Factor?

10 companies as of 23 Sep 2026, the largest being PPL, PSO, ATRL, MLCF, CNERGY. 87% of the index value sits in oil & gas exploration companies, refinery, oil & gas marketing companies. The full list, with each company price, valuation and returns, is on this page.

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