South Africa Market Watch | 20 July 2015: JSE higher despite plummeting in gold miners and resource sectors

Johannesburg, South Africa (Capital Markets in Africa) — Johannesburg Stock Exchange (JSE) started the week on positive momentum. The JSE All Share index increased by 0.50 percent or 264.60 points to close at 52,988.32 levels.  The JSE Top 40 index also added 0.71 percent or 336.09 points to end at 47,388.67 points.

From the sector viewpoints, financial sector index surged by 0.47 percent or 212.95 points at 45,996.85 points. Both Industrial sector index and industrial 25 index gained by 0.83 percent to end at 76,775.70 points and 0.91 percent to settle at 68,542.47 points respectively. However, the resource sector index fell by 0.93 percent with a closing level of 37,617.71 points and the JSE Gold index lost 9.53 percent at 846.93 points.

Looking at the market strength/breath, the market recorded 175 price gainers and 159 price losers as well as 59 that remained unchanged, hence market strength/breathe ended positive. On the top ten list of movers upwards today was Iliad Africa, whose shares advanced 6.33 percent to ZAR 9.57 after investors traded 1,187,624 shares in 181 deals. Rolfes Technology Holdings  rose 7.81 percent to ZAR 3.45 after 71 deals exchanged a total of 495,804 shares. Also, Montauk Holdings, Santova Logistics Limited and HOSP-A gained 19.38 percent to end at ZAR 13.49, rose by 9.59 percent to close at ZAR 3.20 and surged by 7.02 percent to trade at ZAR 12.20 respectively.

Amongst the top ten losing shares today was Gold Fields whose shares dipped 9.32 percent after investors bought and sold 3,885,270 shares in 4,690 deals, sending the share price down to ZAR 34.35. Harmony Gold Mining Company  slid 9.16 percent to ZAR 12.50 after 4,199,308 shares were exchanged in 3,405 deals. Still on the losers’ list, Nvest Financial Holdings Limited fell by 21.70 percent to trade at ZAR 2.85 after 9,211 shares were exchanged and SIBANYE settled at ZAR 17.50 after plunging by 10.62 percent.

On the foreign exchange market, the South rand depreciated against major currencies. The rand traded against US dollar at ZAR 12.3329 by losing 0.73 percent. British pound traded at ZAR 19.3345 and Euro cost ZAR 13.4796 after declining by 0.44 percent and 0.72 percent respectively.