Südafrika: Aktueller Marktkommentar

Südafrika, 5. August 2014 —


The JSE delivered a relatively workmanlike rebound yesterday, as the overall index traded up by 0.63%, adding 322 points, to close at 51,240 points. The performance was largely in line which suggested some bargain-hunting was on the cards. The JSE-TOPI, which tracks the top 40 counters on the JSE, traded up by 265 points, adding 0.58% to close just shy of 46,000. The short term technical picture indicates that further marginal advances are likely for the index during the early portion of today session. Resource counters traded up by just 0.57%, adding 338 points and for the moment short term rate of change data on the sector continues to gradually lose traction. The industrial sector was in the green by 0.46%, adding 270 points but the upside momentum was insufficient to break the sector beyond the near term resistance areas even though rate of change data is at the lower end of its parameter.

Given the modestly oversold position in terms of rate of change data, further bargain-hunting on industrials will occur today. Banking counters traded up by 1.85%, adding 1,240 points to close at 68,408 points with momentum figures on the sector improving. On a relative basis banking counters continued to be overbought. Retailers were in the green by 1.80%, adding 1,221 points. Retail shares have broken beyond a minor resistance area and are likely to enjoy further upside, although today’s advances will be less robust. Platinum shares traded in the green by 1.81%, even as the platinum price remains relatively constrained for the moment.


In large measure the past 24 hours has reflected upside momentum relating to technical factors, which materialised following the selling pressure in the previous week. Market participants remain focused on earnings data, although global macro and political back continues to represent a modest headwind to outright brisk momentum at the moment, with visible selling pressure materialising at higher levels on key US indices.


The greenback remains relatively well supported, although some short term technical weakness has materialised over the past two or three sessions. Global commodity prices have lost traction in recent weeks but technically are now relatively over sold indicating that a degree of support is likely to emerge at current levels. Industrial metals are exhibiting clear improvement although upside momentum is controlled rather than decisive.

Quelle: IAS

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