The Johannesburg Stock Exchange (JSE) has reached a significant milestone in 2025, with its flagship index—the FTSE/JSE All Share Index (ALSI)—surging to an all-time high of 100,000 points. This landmark achievement underscores a robust year for South Africa’s capital markets and cements the JSE’s position among the world’s top-performing exchanges in both Rand and US Dollar terms.
Launched in January 1960 with a base value of just 100 points, the ALSI has now grown 1,000-fold over 65 years. This translates to an impressive annualized return of over 11%, reflecting the long-term resilience, adaptability, and growth of South Africa’s listed companies.
“Reaching 100,000 points on the ALSI is not just a numerical milestone—it’s a powerful reflection of the resilience, innovation, and operational excellence of companies listed on the JSE,” said Leila Fourie, CEO of the JSE. “This landmark demonstrates that investors continue to place their trust in the South African market and in the ability of our listed companies to drive growth and deliver value.”
The ALSI was modernized in 2002 through a strategic partnership with global index provider FTSE, adopting international best practices such as free-float weighting and a fixed universe of 160 companies. Today, the index comprises 125 listed companies with a combined market capitalisation of R21 trillion, spanning a wide range of sectors and geographies.
“The ALSI remains a trusted benchmark, capturing 99% of the eligible market capitalization on the JSE Main Board,” said Mark Randall, Director of Information Services. “It distils the daily performance of large, mid, and small-cap stocks into a single, widely visible figure.”
Despite not including every listed company, the ALSI is a comprehensive barometer of the South African equity market. It has weathered numerous global and local challenges—from financial crises to commodity price swings—and continues to deliver strong long-term growth.
The past five years have been particularly dynamic. After rebounding from pandemic-era lows, the index has been buoyed by commodity booms, strong corporate earnings, and renewed investor confidence. Key sectors such as mining, banking, and technology have led the charge, supported by structural reforms and improved fiscal stability.
Looking ahead, the JSE remains focused on innovation and inclusivity. “We remain committed to advancing market development, improving access to capital for businesses of all sizes, and ensuring that our exchange continues to evolve in line with international standards,” added Fourie.
