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Johannesburg - South African shares steadied on Tuesday with twitchy global investors taking a pause from dumping risky emerging market assets and as oversold stocks were snapped up.
But gold producers such as AngloGold Ashanti remained on the back foot, with the bullion index falling 2.8%.
Platinum stocks moved in the opposite direction with the spot price supported by a strike against the world's top three producers of the precious metal and positive results from Aquarius Platinum, which is not affected by the stoppage.
"The magnitude of selling is reducing. There is still fear in the market, there are not too many buyers around," said Owen Nkomo, executive partner at investment company Inkunzi Investments. "We are seeing some pockets of buying in the oversold sectors."
Internet and media firm Naspers bounced back 3.6% to R10.72 after four consecutive days of falling that had shaved off 11% of its value.
The Top-40 index edged just 0.01% lower to 41 085.10 and the All-share was also little changed, losing 0.06% to 45 724.70.
The sell-off in the last three sessions has wiped off the gains the blue-chip index has made so far in 2013 in a record run that saw it scale new peaks.
The U.S. slow-down in monetary stimulus, shaky Chinese growth and country-specific problems in emerging markets have led investors to rein in their buying activity in fast-growing but less stable economies.
Over 1 trillion dollars has been wiped off world stocks during a week of turbulence.
Platinum producers took a cue from Aquarius, which reported a 7% rise in second-quarter output.
Production attributable to Aquarius from its venture with Anglo American Platinum in South Africa rose to 55 152 ounces from 51 262 ounces. Amplats was up 1.6% to R435.50.
Hospital groups Life Healthcare and Mediclinic benefited from investors seeking defensive stocks, gaining 2.7 and 2% respectively.
Some 185 million shares were traded and 185 companies declined and another 116 advanced, according to preliminary bourse figures.
But gold producers such as AngloGold Ashanti remained on the back foot, with the bullion index falling 2.8%.
Platinum stocks moved in the opposite direction with the spot price supported by a strike against the world's top three producers of the precious metal and positive results from Aquarius Platinum, which is not affected by the stoppage.
"The magnitude of selling is reducing. There is still fear in the market, there are not too many buyers around," said Owen Nkomo, executive partner at investment company Inkunzi Investments. "We are seeing some pockets of buying in the oversold sectors."
Internet and media firm Naspers bounced back 3.6% to R10.72 after four consecutive days of falling that had shaved off 11% of its value.
The Top-40 index edged just 0.01% lower to 41 085.10 and the All-share was also little changed, losing 0.06% to 45 724.70.
The sell-off in the last three sessions has wiped off the gains the blue-chip index has made so far in 2013 in a record run that saw it scale new peaks.
The U.S. slow-down in monetary stimulus, shaky Chinese growth and country-specific problems in emerging markets have led investors to rein in their buying activity in fast-growing but less stable economies.
Over 1 trillion dollars has been wiped off world stocks during a week of turbulence.
Platinum producers took a cue from Aquarius, which reported a 7% rise in second-quarter output.
Production attributable to Aquarius from its venture with Anglo American Platinum in South Africa rose to 55 152 ounces from 51 262 ounces. Amplats was up 1.6% to R435.50.
Hospital groups Life Healthcare and Mediclinic benefited from investors seeking defensive stocks, gaining 2.7 and 2% respectively.
Some 185 million shares were traded and 185 companies declined and another 116 advanced, according to preliminary bourse figures.
