<\/p>\n
The JSE\u2019s benchmark All Share Index (Alsi) jumped to a new record above 128 000 points on Friday, just days after the most upbeat SA National Budget in years delivered by Finance Minister Enoch Godongwana on Wednesday.<\/p>\n
It gained almost 1.5%, taking the local bourse\u2019s rally to more than 10% year-to-date.<\/p>\n
Listen\/read:
Strong start to the year for golden JSE
Budget in a minute
South Africa\u2019s 40% stock rally is missing an economic engine<\/p>\n
This follows last year\u2019s bull run on the back of surging precious metals prices, economic reforms gaining momentum, and lower interest rates fuelling business and consumer optimism.<\/p>\n
The JSE closed at 128 456 <\/span>points<\/span>, with gains largely led by resource stocks.<\/p>\n ADVERTISEMENT<\/p>\n CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n Sasol surged 16%, while Randgold rocketed over 28%. Other major gainers included\u00a0Sibanye-Stillwater, Impala Platinum, and Harmony Gold.<\/p>\n Stocks that reached new 52-week highs included Stefanutti Stocks, Telkom, MTN, PPC, Netcare, Valterra, HCI, Pan African Resources, WBHO, FirstRand, Nedbank, Fortress, Old Mutual, Momentum, and the JSE Limited itself.<\/p>\n Currency support added to the positive tone, with the rand trading below R16 to the US dollar.<\/p>\n<\/blockquote>\n The JSE has been buoyed this year by strong commodity prices, improved global risk appetite and a relatively stable domestic macro economic backdrop, which got a further fillip from SA\u2019s better fiscal outlook announced in the 2026 Budget.<\/p>\n Listen\/read: Omri Thomas, director at Abax Investments, says as long as commodity prices (notably gold and platinum) continue to rally, the local market should remain well supported.<\/p>\n ADVERTISEMENT:<\/p>\n CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n \u201cWe are in a very positive cycle with lower interest rates, a stronger rand and higher confidence in the economy,\u201d adds Thomas.<\/p>\n<\/blockquote>\n \u201cWe had a good budget and that, coupled with sound monetary management are sending positive signals to foreign investors, who have been underweight South Africa up to now.\u201d<\/p>\n He believes the JSE could benefit from increased foreign inflows in the near term.<\/p>\n Read: Follow Moneyweb\u2019s in-depth finance and business news on WhatsApp here.<\/em><\/p>\n<\/p><\/div>\n\n
How consultation shaped SA\u2019s latest budget
SA public finances \u2018emerging from the fiscal wilderness\u2019
NHI plan remains intact despite medical tax relief \u2013 Godongwana<\/p>\n\n
SA growth could surprise to the upside \u2013 Standard Bank
The big JSE property stocks trading at premiums \u2026
Resource stocks are top picks in Moneyweb Investor Challenge<\/p>\n