The JSE closed weaker on Tuesday as miners fell on a stronger rand, but banking, retailer and property stocks closed firmer. The market appears to be looking for an uptick in sentiment following recent volatility in emerging markets amid the turmoil in Turkey.Trading was cautious; however, volumes are beginning to pick up after having been subdued for the past few months. Turnover on the day exceeded R19bn, some way above the recent average of about R12bn, as the holiday season in the northern hemisphere nears its end."This factor could have exacerbated the extent of the market’s reaction to the Turkish crisis as thinner trading volumes can heighten volatility," Franklin Templeton analysts said.The rand firmed to R14.02 to the dollar in intraday trade, but had weakened to R14.1674 by the JSE’s close.Naspers pared some of the losses it suffered from weaker Asian markets, but rand hedges ended the day mixed, with AB InBev up and British American Tobacco flat.Market participants focuse...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.