Johannesburg - South African stocks closed in the red on Tuesday amid profit-taking on the local bourse with banking stocks hardest hit.

A local equities trader noted that the market had run hard over recent sessions.

By 17:00 the JSE all share index declined 0.78%, with resources giving up 1.36%. Platinum miners weakened 0.89%, and gold stocks moved 1.37% lower. Banks shipped 1.84%, financials subsided 1.16%, but industrials ended flat, up 0.02%.

The rand was bid at R7.38 to the dollar, from R7.37 seen at the JSE's close on Monday. Gold was quoted at $1 115.84 a troy ounce from $1 126.93 at the JSE's last close. Platinum was at $1 591.50/oz from $1 594/oz at the JSE's last close.

A local equities dealer said: "The market has had a good run which has led to a bit of profit-taking today.

"Commodities are softer, but generally we have run hard of late. The market may look for a period of consolidation."

Dow Jones Newswires reported that US stocks opened slightly lower, then turned mixed early on Tuesday, the one-year anniversary of the market's rebound from its lows last year, as tumbling commodity prices weighed on materials.

The Dow Jones Industrial Average was down 4 points, at 10,548.

In Washington, Greece's Prime Minister George Papandreou is scheduled to meet with US President Barack Obama.

Speaking at the Brookings Institution on Monday, Papandreou pushed US officials to investigate speculation in euro currency markets that he says is driving up Greek borrowing costs and he reiterated that Greece hasn't requested a bailout. The Greek government will seek to raise a further €10bn through one or two bond issues in March, and between $5bn and $10bn through a separate offering targeted at investors in the US and Asia, officials familiar with the matter said on Tuesday.

- I-Net Bridge