JSE Alsi moves to a record high

Abdul Milazi

Abdul Milazi

Sasol pumped up the JSE's performance this week with the All Share index(Alsi) adding 1,5percent on Monday and reaching a new record high of 33191.

Analysts yesterday said the JSE's 4th largest share by market capitalisation hit an all time high of R503 per share, driven by the crude oil price rising to just under $130 (R994) a barrel, and the rand weakening in the face of adverse publicity due to xenophobic attacks.

"The JSE Alsi moved to a record high, driven mainly by resources. But also news of the potential deal between MTN and India's Bharti group kept the MTN share price high, and construction company shares like Aveng and Murray & Roberts moved higher on positive sentiment returning to the construction sector," said Christopher Gilmour, analyst at Absa Asset Management Private Clients.

MTN is the 5th largest share on the JSE in terms of market capitalisation. - Business Times