South Africa Market Watch | 7 July 2015: South African equities cover in blood, All Share falls 2.69%, losses led by resources

Johannesburg, South Africa (Capital Markets in Africa) — South African equity markets extended its bearish runs. The Johannesburg Stock Exchange (JSE) All Share dropped by 2.69 percent or 1383.43 points to land at 49,997.79 points. The JSE Top 40 index also plunged by 2.96 percent or 1,355.42 points to settle at 44,377.00 points and JSE Financial sector index tumbled by 2.45 percent or 1,069.24 points at 42,544.54 points. Both Industrial sector index and industrial 25 index somersaulted by 2.53 percent (to end at 72,355.73) and 2.64 percent (to settle at 64,338.92) respectively. Likewise, the resource sector index slumped by 3.69 percent with a closing level of 36,822.94 and the JSE Gold index shed off 0.48 percent at 1,020.52 level.

Looking at the market strength/breath, the market recorded 99 price leaders and 256 price losers as well as 61 remained unchanged, hence market strength ended negative. Torre Industries  was amongst the top ten gainers today, as shares rose 8.29% to sell at ZAR 4.70 after 122 deals traded 649.609 shares. After investors bought and sold 817,944 shares in 39 deals, Cadiz Holdings climbed to ZAR 1.18, a gain of 4.42 percent.  Others tops gainers were MONTAUK Holdings  (added 19.32 percent at ZAR 10.50), African Equity Empowerment Investments (gained 13.30 percent with closing price of ZAR 2.64 after investor sold 72,451 shares) and DELRAND Resources Limited surged by 825.93 percent to close at ZAR 2.50 on mere 30 shares exchanging hands.

Glencore Xstrata was in the top ten list of shares moving downwards, after investors traded 2,771,139 shares in 1,165 deals and sent the share price down 6.94 percent to R44.67. Losing 6.69% was Trencor, whose shares fell to R61.12 after investors exchanged a total of 1,369,322 shares in 199 deals. The top losers was AF-OVER with closing price of ZAR 7.26, by losing 39.50 percent and followed by DELTA dropping 20.00 percent to end at ZAR 2.00.

On the foreign exchange market, the South African Rand ended stronger today against major currencies. But the rand slipped by 0.87 percent to 12.4754 versus the US dollar on Tuesday, buoyed by a euro laid low by the worsening Greek crisis. Whereas, traded at ZAR 19.2279 to the British pound, ZAR 13.6747 to the Euro and , ZAR 8.2985 to the New Zealand dollar, by gaining 0.22 percent, 0.05 percent and However, the Rand depreciated by 0.11 percent against Aussie dollar to close at ZAR 9.2733.