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Johannesburg - South African stocks broke a four-day losing streak on Friday partly thanks to technical factors, although mining companies were still on the defensive on record low metal prices and news that electricity tariffs are set to rise.
The benchmark Top-40 index finished up 0.99% at 43 383, while the broad All-Share index added 0.88% to 48 613.
The market got a technical bounce after the 14-day RSI on the main indices, a momentum indicator tracked by chartists, strayed into oversold territory in previous sessions.
"The JSE is looking at a bit of a relief rally from fairly oversold levels, helped by better than expected US employment data and the better than expected auto sales on the local side," said Priestman.
About 160 million shares changed hands, below last year's daily average of 176 million. Advancers outpaced decliners by 197 to 123.
Miners were hurt by news that power utility Eskom will hike prices by 12.7% for the 2015-16 financial year to shore up its finances.
That combined with a gold price that fell below $1 200 an ounce dealt a double blow to power-intensive gold mining companies in particular.
"Commodities remain week given current global prices, Chinese manufacturing PMI data and local producers hit further by the agreed Eskom price increase of 12.7%," said Lloyd Priestman, a market analyst with asset manager Caleo Capital.
"Gold has broken to a level where many of the marginal mines become unsustainable."
Africa's top gold producer, AngloGold Ashanti, lost 3.5% to R127.30, its lowest level in almost nine months. Rival Gold Field slid 4.23% to R43.51.
