The JSE FTSE All-Share index fell 1.1% to close at 70,318 on Tuesday, as investors worldwide turned more cautious about the economic implications of aggressive tightening ahead of a key ECB meeting and US inflation data later in the week. On the domestic data front, South Africa's economy grew more than expected in the first quarter, reaching pre-pandemic size, mainly due to strong performance in manufacturing. Meanwhile, the IMF at the end of a visit to South Africa voiced concerns about the country’s economic growth outlook and the implications on employment, poverty and inequality. On the corporate front, tech stocks, banks, financials and retailers were the most penalized.
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 June of 2022.
The South Africa Stock Market Index is expected to trade at 68778.65 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 62736.23 in 12 months time.