The FTSE/JSE All Share index swung between gains and losses to trade around 68,000 in late July, not far from an all-time high of 69,049 hit on June 2nd, as the violent Zuma protests seemed to be over and a good earnings season provided a lifeline for global markets. Meanwhile, the Reserve Bank decided to keep its benchmark interest rate at a record low of 3.5% at its July meeting, as expected, citing the need to support an economy still struggling to recover from the pandemic, while inflation remained well contained. The central bank’s 2021 growth forecast was unchanged at 4.2%, soothing fears of the impact from the recent violent protests.
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 July of 2021.
The South Africa Stock Market Index (Composite) is expected to trade at 64644.53 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 59569.16 in 12 months time.