The JSE on Tuesday set a record high on the all-share‚ industrial‚ financial and bank indices.
The local share market gathered steam in the afternoon session‚ boosted by a strong opening on Wall Street and short covering ahead of the futures closeout on Thursday‚ dealers said.
At 17:00 local time‚ the JSE all-share index rallied 0.80 percent to 34‚714.06 points‚ with resources lifting 0.63 percent and gold shares gaining 0.96 percent‚ while platinum counters lost 1.65 percent
Financials climbed 1.19 percent‚ banking stocks lifted 1.40 percent and industrials were 0.73 percent firmer.
The rand strengthened to 8.21 to the US dollar‚ from 8.34 at the JSE's close on Monday‚ while gold was quoted at US$1‚626.15 a troy ounce from US$1‚622.95/oz at the JSE's previous close and platinum was at $1‚493.50/oz‚ from $1‚483.20/oz previously.
“It is interesting that buyers’ interest was not confined to basket type shares.
It was broad-based even in the face of indifferent news‚ with no change in situation in Spanish and eurozone troubles‚” said David Shapiro‚ director at Sasfin Securities.
Materials and financial stocks led the way as major US benchmarks followed European markets higher‚ though Spain's borrowing costs kept investors wary‚ Dow Jones Newswires reported.
The Federal Reserve's monetary policy setting committee begins a two-day meeting‚ with a statement due out around midday on Wednesday.
Investors will be closely watching for hints the central bank is prepared to take additional steps to bolster the US economy.
London’s FTSE 100 index was up 1.84 percent in late trade.