South African equities continued to advance last week, with the JSE FTSE Top 40 Index closing 0.19% higher at 83,413 points, supported by broadly positive sectoral performance.
Of the 20 sectors, 14 ended in positive territory. Electronic technology led with a gain of 3.62%, followed by transportation up 2.65% and industrial services rising 2.54%.
In contrast, non-energy minerals, consumer non-durables, and health services were among the laggards.
Among the top constituents, Naspers advanced 2.45%, while within the financial sector, Firstrand, Capitec Bank Holdings, and Standard Bank Group posted gains of 0.59%, 1.86%, and 0.49% respectively, providing further support to the broader market.
The market was also influenced by the South African governmentโs efforts to renegotiate trade terms with the United States following the imposition of tariffs on certain South African exports. While the tariff increases have been temporarily paused, the ongoing uncertainty continues to weigh on the economic outlook.
Meanwhile, South Africaโs growing economic relationship with India provided a supportive backdrop. South Africa already ranks as Indiaโs fourth-largest trading partner, and the relationship continues to strengthen. There has been a notable increase in engagement, with businesses exploring opportunities in India. With strong historical ties and expanding business interactions, South Africaโs partnership with India is expected to play an increasingly important role in diversifying trade relationships and reducing reliance on the U.S. market.
Leave a Comment