MARKET WRAP: Banks and financials gain despite fall in rand

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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