JSE Top 40 Rebounds to 111,700 as Resources and Ceasefire Relief Lift Sentiment

Quick overview

The FTSE/JSE Top 40 Index closed out on April 14, 2026 at 111,945, a fairly modest bounce of around +1.13% from the previous day. Meanwhile, the broader All Share Index went up by 1.10% on the day, reaching 119,795.83. With both indices seeing a bit more volume in the market, it’s clear that investor sentiment has started to recover from the earlier ructions caused by geopolitical tensions and oil price swings.

Recent Market Performace

April’s been a bit of a rollercoaster for the market so far. We’ve seen some pretty sharp sell-offs – >5% on a couple of days to be precise – due to the escalating tensions in the Middle East, but since then we’ve seen some pretty strong rebounds too (like that 4.16% bounce on April 8 after the US-Iran ceasefire was announced). The Top 40 Index may have slipped a bit below its 2026 peak of around 121,000 – 129,000 but still shows some solid longer-term gains – around 43 – 48% over the past year when you factor in the currency.

The gains on April 14 got a boost from some resource-heavy stocks that did well alongside global commodity movements eg gold and platinum group metals. The property indices have also been up lately (All Property Index up 1.6% in the recent sessions) although the financials and industrials didn’t have the same story to tell.

Corporate & Exchange News

• JSE Ex-Dividend Day – April 15 2026: The dividend day springs into effect on April 15 today (2026) for JSE Ltd with the company paying out a regular dividend of 9.61 ZAR per share plus 1.00 ZAR special dividend (payment on April 20). All this comes after a very strong set of results from 2025 where the company saw net profit after tax top R1 billion for the first time.
• SME Enterprise Accelerator Launch: We’re excited to see the JSE teaming up with the UK–South Africa Tech Hub to host the official launch of its 2026 SME Enterprise Accelerator Programme – the event takes place today to introduce the 12 selected SMEs of the 2026 cohort and focus on capacity building, market access, and advisory support for South Africa’s small and medium enterprises.
• New Listings : The JSE just gets on with the job – ” Ivy EasyETFs AI Innovation AMETF” being the latest addition and giving local investors a chance to get a foot in the door for some global AI opportunities.

Technical Analysis

The Top 40 Index is hovering around 111,700 showing that its uptrend remains intact after that rebound from the trendline. Price action shows a clear sequence of higher lows and the bullish candles are definitely gaining ground well above that R110,000 pivot.

The Index is holding well above the 50-SMA near R110,100 – while the 200-SMA around R109,100 continues to hold as a dynamic support.

That rising trendline from late March has also stood firm. Price is getting close to reaching horizontal resistance around R112,100 – R114,400.

The RSI is running around 55-60 which is a sign of moderate bullish momentum but nothing close to pushing things over the edge yet.

Trade Idea : Look to buy above R112,100 with a target of R114,400 and a stop below R110,000.

Outlook

Investor sentiment has been pretty mixed on the JSE of late due to all the high volatility and global geopolitical risks tied up in US-Iran developments affecting oil and the Rand – and we haven’t got too much to go on locally. Resources stocks have definitely provided a bit of a stopgap for that volatility however

ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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