The JSE all share closed firmer on Wednesday as rand hedges and miners rallied on the weaker rand following Finance Minister Malusi Gigaba’s medium-term budget policy statement (MTBPS).The JSE pushed to within 70 points of a record high in intra-day trade, with miners also benefiting from the falling rand.Brent crude was 0.45% lower at $58.16 a barrel soon after the JSE’s close.Gigaba’s statement revealed a higher budget deficit and lower growth projections for the next three years, which is likely to lead to a downgrade later this year.Interest-rate sensitive local stocks, including banks, property and retailers, closed sharply weaker as the falling rand is likely to add to inflation, thereby reducing the chances of further interest-rate cuts by the Reserve Bank.The all share gained 0.38% to 58,123.1 points and the top 40 0.5%. Gold miners added 1.97%, platinums 1.89%, industrials 0.87%, and resources 0.51%. The property index fell 1.56%, banks 1.11%, and financials 0.95%.Sasol lif...
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