The FTSE/JSE All Share Index closed deeply in the red at 66,169 on Thursday, its lowest level since March 25th, mainly dragged down by miners as a recent rally in prices of key commodities such as iron ore and platinum paused. At the same time, concerns over increasing inflationary pressures mounted as investors bet on sooner than expected interest rate hikes. On the domestic front, worries about a third wave of Covid-19 are intensifying. On a positive note, mining production rebounded more than expected in March, partly due to a low base year comparison from the previous year when the pandemic began.
Historically, the South Africa Stock Market Index (Composite) reached an all time high of 69403.75 in March of 2021. South Africa Stock Market Index (Composite) - data, forecasts, historical chart - was last updated on May of 2021.
The South Africa Stock Market Index (Composite) is expected to trade at 65988.13 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 61861.77 in 12 months time.