JSE back in the red on rate hike
The JSE was back in the red by close on Thursday after the Monetary Policy Committee announced a 50-basis-point hike in interest rates. The hike distressed the banking sector which plummeted more than 3.5 percent at one stage during the day.
The South African Reserve Bank increased the repo rate to 11.50 percent.
The all share index dropped 0.46 percent and closed at 31 215.170 points.
The platinum mining index collected 0.54 percent, resources lifted 0.27 percent and the gold mining index edged up 0.7 percent.
Banks tumbled 2.87 percent, financials slumped 2.18 percent and industrials retreated 0.73 percent.
Among platinum stocks, Anglo Platinum pulled back 1.15 percent to 1285 rand but Impala Platinum added 1.54 percent to 330 rand.
Resources giant BHP Billiton edged up 0.1 percent to 274 rand but Anglo American slipped 0.1 percent to 521 rand. Sasol lifted 1.41 percent to 415 rand.
Among gold counters, AngloGold Ashanti rose 0.3 percent to 282 rand while Gold Fields jumped 2.22 percent to 112.60 rand.
Banking group Absa slumped 4.15 percent to 104 rand, FirstRand withdrew 2.63 percent to 16.65 rand, Nedbank tumbled 3.37 percent to 116 rand while Standard Bank declined 2.68 percent to 90.90 rand.
Investec Ltd plummeted 3.35 percent to 58.50 rand while Investec Plc lost 3.81 percent to 55.79 rand.
Fixed-line operator Telkom gained eight cents to 131.90 rand while mobile operator MTN Group pocketed 1.14 percent to 137.05 rand.
Brewer SABMiller closed 0.6 percent firmer at 169 rand but luxury goods group Richemont shed 1.67 percent to 44.20 rand.
Diversified industrials group Imperial plummeted 4.99 percent to 81.95 rand while Bidvest gave up 4.18 percent to 114.99 rand.
Retail group Mr Price weakened 3.9 percent to 18.50 rand while Truworths eased 5.54 percent to 26.79 rand.
