The JSE continued its journey into record territory on Thursday morning, fuelled by buying related to the futures close-out, which got under way at noon. Trade was brisk with over R4-billion-worth of shares changing hands.
By 12.01pm, the all-share index was up 0,71% at 24Â 621,540 after reaching an all-time high of 24Â 646,48. Industrials climbed 1,14%, financials firmed 0.,7% and the banks index jumped 1,91%. Resources rose 0,17%, while the gold- and platinum-mining indices gained 0,74% and 1% respectively.
The rand was bid at 6,94 per dollar from 6,97 when the JSE closed on Tuesday, while gold was quoted at $620,64 a troy ounce from $620,20/oz at the JSE’s last close.
“The market is really flying,” a dealer said. “Ahead of the close-out, there has been a large re-weighting out there, which seems to be skewed towards the buy side.”
He added that the market was definitely being driven by local factors and not by world markets.
Leading the JSE’s upside, cellular network operator MTN Group surged 3,46% or R2,80 to R83,80. It earlier traded at an all-time high of R83,85.
Telkom gained 70 cents to R139,70.
Swiss-listed luxury goods group Richemont rallied 1,4% or 56 cents to R40,49 and investment company Remgro climbed R1,69 to R172,71.
Richemont and Remgro on Thursday traded at new highs of R40,60 and R175,01 respectively.
London-listed brewer SABMiller was up a modest 12 cents at R159,12 after trading at a record high of R160,24.
Brand management group Barloworld was boosted 1,92% or R310 to R164,40, services group Bidvest strengthened R1,08 to R134,90 and transport and logistics group Imperial rallied 2,36% or R3,80 to R164,80.
Barloworld and Bidvest on Thursday reached historic highs of R164,50 and R135,80 respectively.
Retailer Lewis surged 5,41% or R3,05 to R59,40.
Mittal Steel leaped 2,04% or R1,93 to R96,32. It traded at a strongest-ever R97. Pulp and paper producer Sappi was 1,77% or R2,05 stronger at R118.
Standard Bank led the financial index’s charge, reaching a highest-ever R93,90. It was last quoted 2,75% or R2,51 in the black at R93,70.
FirstRand firmed 1,72% or 37 cents to a record high of R21,89.
Nedbank notched up 1,31% or R1,71 to R132,01 and Absa added 1,4% or R1,70 to 123,20.
Financial services group Sanlam was up 1,6% or 29 cents at R18,38, but London-listed Old Mutual lost 20 cents to R23,50.
London-listed diversified resources group Anglo American eased R1,42 to R339,61 and BHP Billiton slipped 55 cents to R127,90.
Petrochemicals group Sasol, however, strengthened 1,43% or R3,59 to R255,04.
AngloGold Ashanti added 1,21% or R3,89 to R326,69, Gold Fields gained R1,05 to R131,60 and Harmony inched 25 cents higher to R112,50.
Impala Platinum jumped 2,1% or R3,70 to R179,70 and AngloPlat picked up R4,51 to R854,50. — I-Net Bridge