JSE Rally: Analysts See More Gains Ahead After Record High

The Johannesburg Stock Exchange (JSE) has surged to fresh record levels, and analysts believe the momentum could continue in the coming months.

This week, the all-share index delivered returns of over 30% so far this year, with resources—particularly precious metals—leading the charge.

Tech giant Naspers and its affiliate Prosus also provided strong support, boosting overall performance. On Wednesday, the JSE closed above 108,600 points after hitting an intraday peak of 109,157.

JSE Rally: Offshore Investors Driving Demand

Market experts say international interest has played a key role in driving South African equities higher. Foreign investors are increasingly attracted to local stocks, which they view as undervalued compared to other global markets.

Mandisa Zavala, Head of Asset Allocation at Alexforbes, explained: “For a while now, we’ve seen quite a bit of activity coming into South Africa, especially from offshore investors or foreigners in particular.

“They’ve seen quite an interest in South African equities because they look quite cheap. So, we have been seeing a trend of more foreigners coming into our market. And I think that is also as a result of the global environment being one that is uncertain.”

YOU MAY ALSO LIKE: Checkers Sixty60 Faces Service Disruptions In KZN Amid Driver Protests

Zavala added that both structural and tactical factors are aligning to fuel the rally. Analysts believe these conditions could sustain market momentum, offering further upside potential for South African stocks.

With global uncertainty pushing investors to seek new opportunities, the JSE may continue to benefit from increased foreign capital inflows and strong performance in key sectors.

---

For More, Follow SurgeZirc SA On  Facebook, X,  Instagram and Bluesky