The JSE opened flat on Friday, but the mood is a touch negative amid tensions in Egypt and the lack of direction.
By 09:17 local time, the JSE all share index was little changed (-0.01%), with platinum miners declining 0.40%. But gold counters rose 0.58%, while resources were little changed (0.06%). Industrials were flat, but banks lost 0.36% and financials fell 0.17%.
The rand was trading at 7.29 to the dollar from 7.28 at the JSE's close on Thursday. Gold was quoted at US$1,363.45 a troy ounce from US$1,354.28/oz at the JSE's previous close, while platinum was at $1,830.50/oz from $1,833.70 before.
"There is no real catalyst driving the market. I expect the market to drift sideways in the course of the day," a derivatives equity trader said.
The latest development in Egypt could potentially weigh on investor sentiments, while investors were ignoring President Jacob Zuma's state of the nation address in Parliament yesterday, he said.
Dow Jones Newswires reported that Asian stock markets were mixed on Friday, with shares in Shanghai weighed by concerns over additional tightening measures from Beijing, while Seoul stocks fell on the view the Bank of Korea will hike rates soon, despite holding steady earlier in the day.
Australia's S&P/ASX 200 was down 0.3%, South Korea's Kospi Composite was up 0.1% and Hong Kong's Hang Seng Index fell 0.2%. Japanese markets were shut for a public holiday.
The Shanghai Composite Index was down 0.1%, while Taiwan's main index fell 0.8% and India's Sensex gained 0.1%. Dow Jones Industrial Average futures were 26 points lower in screen trade.
Many investors remained wary amid heightened tensions after Egyptian President Hosni Mubarak refused to quit despite mass protests.
Mubarak clung to power late on Thursday, confounding earlier expectations that he would step aside. Mubarak said on state television that he would delegate powers to his vice-president but stopped short of the resignation demanded by hundreds of thousands of protesters massed in Cairo's Tahrir Square.
On the JSE, Anglo American (AGL) rose 2.46 rand to 384.25 rand, and Sasol (SOL) was up 87 cents at 370.68 rand, but BHP Billiton (BIL) shed 80 cents to 288.60 rand.
Among gold miners, Gold Fields (GFI) collected 1.06 rand to 115.40 rand, but DRDGold (DRD) edged down four cents or 1.16% to 3.41 rand.
Lonmin (LON) climbed 3.67 rand or 1.78% to 209.30 rand. Among industrials, Richemont (CFR) gave up 35 cents to 41.29 rand.
Paper and pulp group Sappi (SAP) garnered 39 cents or 1.07% to 36.99 rand.
Construction group M&R Holdings (MUR) firmed 35 cents or 1.18% to 30.05 rand and building material retailer Cashbuild (CSB) jumped 4.00 rand or 4.65 rand to 90.00 rand.
Banking group Capitec (CPI) rose 1.86 rand or 1.09% to 172.85 rand.
Retailer Truworths (TRU) slid 69 cents or 1.13% to 60.51 rand, and Shoprite (SHP) lost 73 cents to 90.07 rand.
Media giant Naspers (NPN) advanced 5.73 rand or 1.48% to 393.01 rand. EOH (EOH) fell 24 cents or 1.42% to 16.71 rand. - I-Net Bridge