SARAH BULLEN, Cape Town | Thursday 4.30pm
THE Johannesburg Stock Exchange ended the day in negative territory on Thursday after a fairly sluggish day’s trade that saw some heavy losses in resource stocks. At close of trade the all share index had lost 0,55% with most key indices closing just off their lows.
Dealers said that the trade on the day was fairly diverse and dominated by some big order, but the markets lacked a clear direction. Trade volume was high, with R2,5-billion worth of volume defying the sluggish mood.
Resource stock came in for some profit taking with Anglo, De Beers and Amplats taking some firm knocks. The heavyweight Alsi40 index reflected the profit-taking in commodities, with the index underperforming the market with a 0,93% drop. The industrial index closed 0,39% up on the day, with the financial index 0,53% higher.
Gold stock had a late perk as the bullion price picked up a few cents per ounce before dropping off again. At close of trade the all gold index was back in negative territory with a 0,04% loss with gold trading at $253,25 an ounce. IT stock had a strong showing, following the lead of Wall Street which was lead higher by its technology sector after early losses.
The rand came under some pressure and was trading at R6,09 to the dollar at 4.00pm after dropping two cents. Asian markets again showed a mixed day, with Hong Kong up 0,96% while Tokyo’s Nikkei Dow lost 1,06%.
European markets were also fairly directionless, with London’s FTSE-100 index the only market trading in positive territory in the late afternoon.