JSE lower as overvalued shares cause widespread jitters
1.5% earlier‚ the index closed 1.33% off at 53 848.74 and the blue-chip top 40 lost 1.25.%
The gold index was a big loser‚ down 4.8%‚ followed by financial stocks losing 1.81% and banks shed- ding 1.59%. Resources dropped 1.55% and industrials lost 1.1%.
Platinums were the only main index to make gains‚ up 0.47%.
Novare Investments research head Francois van der Merwe said investor sentiment had turned cautious in the wake of a significant increase in market volatility.
Among gold shares, Gold Fields dropped 6.41% to R50.96 and Sibanye Gold 6.31% to R22.86.
Anglo American was 1.52% down at R210.75 and BHP Billiton lost 1.32% to R291.35.
Sasol added 0.98% to R486, on a firmer price of Brent crude.
Rand hedge SABMiller retreated 0.97% to R621.60. Naspers gave up 3.49% to R1‚786.87.
FirstRand was heavily sold off‚ closing 2.81% down at R54.72. Standard Bank shed 0.93% to R172.39, and Capitec 2.63% to R540.
Retailers Mr Price was 1.21% lower at R247.77 and Massmart Holdings was 1.53% weaker at R151.12.
Property stock stalwart Growthpoint shed 3.24% to R26.07‚ New Europe Property Investments 3.59% to R138.35 and Resilient 3.24% to R95.50.
Aspen Pharmacare still tumbled‚ down 2.26% to R344.09. – BDlive