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The JSE had a see-saw session last Thursday as it swung between gains and losses before closing firmer on the day.
Gains across most global markets strengthened in the afternoon session as the US Fed announced a series of steps to inject a further $2,3 trillion in additional aid to cushion the impact of the coronavirus. Local stocks opened mildly softer as they struggled for direction, but the news of the US Fed stimulus saw momentum build up in the afternoon session. The news of increased stimulus resulted in the US dollar slipping further as investors looked for more riskier assets.
The rand strengthened back below R18/$ as it reached a session high of R17.85/$ and looked set to strengthen further ahead of the Easter holiday. On the JSE, KAP Industrial Holdings was one of the day’s biggest movers after the share rallied 23.53 percent to close at R2,10, while Motus Holdings surged 15,12 percent to close at R36.93. — fin24.com
Online Reporter