Market Insights: JSE’s 3 Week Rebound Continues, As Manufacturing Stocks Advance 4% – Nov 29, 2020

Welcome to The MoneyMax Market Insight for this week.

The JSE is up more than 2% for the 3rd consecutive week, recovering over 6% so far, of the huge 21% decline suffered in March. The market started its rebound on the week of Nov 13 and has been advancing ever since. Here’s the performance over the last 3 weeks

• Week 1 (Nov 13) – Up 2.2%
• Week 2 (Nov 20) – Up 2.63%
• Week 3 (Nov 27) – Up 2.09%

In addition to increased prices, we also saw increased volumes traded this week (over 350 million units) compared to the over 100 million in the previous 2 weeks.

The big movers this week were Manufacturing & Distribution stocks (Up 4.23%), while the movers in the previous  weeks were Financial stocks.

Manufacturing & Distribution Index

The Main Market and Blue chip stocks have been seeing a huge rebound (driven by the rebound in Manufacturing, Distribution & Financial stocks on increased optimism from the recent quarterly results and positive vaccine news). The Junior Market stocks have been less impressive, declining this week.

Financial stocks were a big contributor to the rise over the last few weeks, up an impressive 3 plus percent for the previous 2 weeks, with a slow down, to almost 2% this week

JSE Financial Index

The insights for the week ending Fri Nov 27, 2020 are below.

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About The MoneyMax Market Insight – This is a compilation of stats and tips on the market. Each week we will highlight the best performing, trending & top ranked stocks and more – giving our members tips on what has been performing well and what to look forward to.