SA’s markets cheer easing of the lockdown restrictions

The Market yesterday embraced the easing of lockdown restrictions to level 1 as stocks on the JSE rose to record highs due to the move earmarked to boost economic activity.

The JSE All Share Index edged up more than 2.5 percent, peaking at an all-time high of 67 859 points during intraday trade before settling to 2.12 percent higher to 67 536 points.

The JSE benchmark index closed in the red on Friday, pulled down by broad-based losses in platinum and gold mining sector stocks.

But yesterday, the market rebounded, buoyed by gold mining stocks which rose 2.16 percent to 65 698 points as investors welcomed the relaxation of lockdown measures.

Banks, stocks and general retailers inched up 2.2 percent and 1.36 percent to 7 005 points and 5 325 points, respectively.