The biggest percentage increase on Friday at the JSE was Sasol. The stock closed at R50.78 wit a 37% increase. That’s still 73.7% lower than March 3, when Sasol’s free fall began.
Friday’s rise in its share price is the first significant increase since December 2019.
This comes after a bloodbath at the JSE and tumbling oil prices simultaneously hit South Africa’s largest company by revenue.
Sasol said on Thursday that they were confident that the company would be able to maintain a positive cash balance, regardless of the low oil price.
Sasol was one of a few South African companies that saw green on Friday.