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Johannesburg - South African stocks ended little changed on Wednesday as investors bought shares of companies such as brewer SABMiller but sold mining stocks after a fall in commodity prices.
Shares of mining firms such as Gold Fields fell after the bullion price hit a 5-month low as investors awaited U.S. economic data later in the week that could increase speculation the Federal Reserve will soon exit its asset purchase scheme.
"We were pushing into highs over the last while so I don't think it is unexpected to see a bit of a correction on the market," said Ferdi Heyneke, a portfolio manager at Afrifocus Securities.
"We are still seeing some support in places where the market likes the companies and quite a lot of selling in the mining shares, particularly platinum and gold."
The benchmark Top-40 index added 0.16% to 39 258.76. The broader All-share index was up 0.05% to 43,986.37.
SABMiller added 1.75% to R525.02, making it the biggest gainer on the Top-40 index. Other gainers included global mining company BHP Billiton, which rose 1.57% to R309.62.
Top-40 decliners were lead by Gold Fields, which lost 3.27% to R37.92, while Impala Platinum fell 2.42% to R113.10.
On the All-share index DRDGold tumbled 7.22% to R3.47 and Sibanye Gold fell 5.56% to R11.90.
At least 192 million shares changed hands, interim bourse statistics showed. A total of 170 companies fell and another 124 rose, while 61 shares were unchanged.
Shares of mining firms such as Gold Fields fell after the bullion price hit a 5-month low as investors awaited U.S. economic data later in the week that could increase speculation the Federal Reserve will soon exit its asset purchase scheme.
"We were pushing into highs over the last while so I don't think it is unexpected to see a bit of a correction on the market," said Ferdi Heyneke, a portfolio manager at Afrifocus Securities.
"We are still seeing some support in places where the market likes the companies and quite a lot of selling in the mining shares, particularly platinum and gold."
The benchmark Top-40 index added 0.16% to 39 258.76. The broader All-share index was up 0.05% to 43,986.37.
SABMiller added 1.75% to R525.02, making it the biggest gainer on the Top-40 index. Other gainers included global mining company BHP Billiton, which rose 1.57% to R309.62.
Top-40 decliners were lead by Gold Fields, which lost 3.27% to R37.92, while Impala Platinum fell 2.42% to R113.10.
On the All-share index DRDGold tumbled 7.22% to R3.47 and Sibanye Gold fell 5.56% to R11.90.
At least 192 million shares changed hands, interim bourse statistics showed. A total of 170 companies fell and another 124 rose, while 61 shares were unchanged.
