By Daniel Wesonga

South African equities declined as the JSE FTSE Top 40 Index fell below the 82,000-point level, retreating from near recent highs on Wednesday. Investor sentiment was mixed, with 10 out of 20 sectors closing positively. The electronic technology sector led gains with an 8.51% increase, driven by Powerfleet Inc., while energy minerals, consumer durables, and consumer non-durables also advanced.

Conversely, industrial services, retail trade, and financials were among the weakest performers, declining 2.79%, 2.49%, and 2.43%, respectively. Financial heavyweights such as Firstrand, Standard Bank Group, and Capitec Bank recorded losses of 5.58%, 4.20%, and 3.87%, respectively, raising concerns about economic stability and weighing on overall market sentiment.

Political uncertainty further pressured the market as South Africa’s parliament narrowly passed the fiscal framework with a 194-182 vote. While the ANC secured enough support from smaller coalition partners, the Democratic Alliance’s budget rejection introduced doubts regarding coalition stability.

International developments also weighed on sentiment, as the U.S. imposed a 30% tariff on South African goods. Trade tensions could negatively impact export-oriented sectors, particularly industrials and mining.