The Johannesburg Stock Exchange (JSE) surged on Wednesday, supported by a slightly weaker South African rand.

The dual-listed foreign companies which benefit from the weaker rand rallied as the local unit traded R14.05 to the U.S. dollar.

Resource shares led the way, thanks to higher commodity prices, complemented by a weaker rand.

Investors are keeping their ears on the ground following news that the S&P Global Ratings and Moody's will announce the results of their latest reviews on the country's rating later this month.

JSE closed at a record 59,514.11 points with all share up 0.91 percent, while the blue-chip top 40 added 1.35 percent to 53,056.59 points. The resources index advanced 2.67 percent to 38,240.6 points, a new 52-week high. The gold index was 2.22 percent higher.

Anglo American led the gains in big diversified miners, adding 40.1 percent to 275.71. BHP was up 3.03 percent to R263 and Sasol 2.01 percent to R422. Kumba Iron Ore rose 2.82 percent to R279.68, and Assore 4.04 percent to R321.73.

AngloGold Ashanti surged up 3.78 percent to R135.25, Gold Fields 2.27 percent to R57.72 and Sibanye-Stillwater 3.66 percent to R18.98.

The Financial index gained 1.01 percent, with Old Mutual rebounded 1.77 percent to R36.02, following news that it was cutting its interest in Nedbank to 19.9 percent, from 54 percent. Sanlam gained 2.01percent to R72.12, and Investec Plc 0.85 percent to R97.23.

Woolworths rose 1.15 percent to R57. Truworths 2.22 percent to R77.03,and TFG 2.44 percent to R138.8.

British American Tobacco advanced 0.42 percent to settle at R913.78.