JSE's best and worst

JSE TOP 40: ROSE ONLY 7%, BUT SMALL CAP INDEX SOARED BY 27%

- Adriaan Kruger

Proponents of active portfolio management will be able to use the performance of the JSE in 2024 as a strong argument to promote their belief. The JSE All Share Index posted a return of only 9.2% for the year, barely beating a fixed deposit in the local bank.

The JSE Top 40 – one of the favourites to track – increased by only 7%.

The action was to be found among smaller companies. The Small Cap Index improved by just less than 27% since January 2024 when smaller SA companies recovered sharply after the uncertainty of the national election, from very low standings.

The shares of medium-sized companies fared well too, as measured by the Mid Cap Index. It rose by 11.1%.

Banks and financial services also did very well. Largely exposed to SA, our economy and SA citizens, the recovery in consumer sentiment led to a recovery in the Financial 15 Index of more than 15%.

Industrials, also mostly SA companies, mirrored this improvement and increased by 15.3%.