The South African JSE FTSE All Share Index closed slightly higher at 63,730 on Friday but remained relatively close to the one-year low hit in the previous session, notching a near 4% loss in the third quarter. Increasingly concerning outlooks for the global economy during the period drove South African commodity prices lower, pressing the profitability of heavy-weighing miners traded in Johannesburg. On top of that, sentiment was dented by persistent fears of load shedding by state-owned power grid operator Eskom. JSE’s benchmark resource stock index tanked over 5% in the period. On the recent data front, South Africa posted the smallest trade surplus in seven months in August, below market estimates.
the JSE was set to close the quarter nearly 4% lower.
Historically, the South Africa Stock Market Index reached an all time high of 78297.38 in March of 2022. South Africa Stock Market Index - data, forecasts, historical chart - was last updated on September of 2022.
The South Africa Stock Market Index is expected to trade at 61304.89 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 55381.77 in 12 months time.