South African equities struggle for momentum amid mining selloff and weaker trading activity
South African stocks ended little changed on Thursday, with losses in mining heavyweights offsetting gains in retail and smaller companies as trading activity slowed across the Johannesburg Stock Exchange.
Black News 
South African stocks ended little changed on Thursday, with losses in mining heavyweights offsetting gains in retail and smaller companies as trading activity slowed across the Johannesburg Stock Exchange.
- South African stocks closed slightly lower on Thursday as mining losses offset gains in retail and small-cap shares.
- Trading activity weakened sharply, with turnover on the JSE falling 24% from the previous session.
- Pick n Pay jumped more than 8%, while Copper 360 and Impala Platinum led mining-sector losses.
- Investors continued shifting away from large resource stocks into selective domestic and small-cap plays.
The benchmark FTSE/JSE All Share Index edged down 0.02% to close at 117,362.40 points, extending its recent weak run.
The index is now down 1.5% over the past week and more than 2% lower over the last month, although it remains slightly positive for the year.
Market activity softened noticeably. About 199.8 million shares worth 19.7 billion rand ($1.06 billion) changed hands, with turnover falling 24% from the previous session.
The drop in traded value and deal volume points to more cautious positioning by investors after recent volatility in global commodity markets and continued uncertainty over the outlook for interest rates in major economies.
Resource shares weighed on sentiment, particularly precious metals and mining counters that remain highly sensitive to swings in global growth expectations and commodity prices.
Impala Platinum Holdings fell 4.85%, while Copper 360 dropped 14% to become the session’s worst performer. Tech-focused mobility group Karooooo also slid nearly 10%.
But the broader market weakness masked strong gains in selected consumer and small-cap stocks.
Pick n Pay rose 8.13%, extending renewed investor interest in turnaround plays within South Africa’s retail sector after months of pressure on household spending. Montauk Renewables led the day’s gainers with a 9.91% jump, while Mantengu Mining and 4Sight Holdings also advanced strongly.
The session reflected a market still searching for direction, with investors selectively moving into smaller and domestically exposed stocks while trimming positions in some of the JSE’s larger resource-linked names.
The Johannesburg Stock Exchange remains Africa’s largest equity market, with a market capitalization of roughly 25.1 trillion rand ($1.52 trillion).
