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MARKET WRAP: Banks and financials gain despite fall in rand

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MARKET WRAP | The all share gained 0.37% to 58,743.6 points, and the top 40 0.42%.

Gold prices fell after the US Federal Reserve said earlier that it was unlikely to raise interest rates again any time soon. This had a deleterious effect on the sector, with the index slumping 3.4%. Sibanye-Stillwater was the biggest loser, down 6.99% to R12.51. It was followed by Harmony Gold, which fell 5.09% to R23.29 and AngloGold Ashanti lost 3.48% to R166.31.

Property shares were mostly higher, with the index adding 0.34%. Redefine gained 1.02% to R9.95, Fortress A 1.04% to R19.47, and Capital & Counties 1.75% to R46.

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