Picture: THINKSTOCK
Picture: THINKSTOCK

SOUTH African futures were slightly firmer on Friday as the JSE closed marginally higher.

The JSE closed firmer despite all major global markets trading in negative terrain.

Some bargain-hunting on the JSE after stocks being oversold helped lift the local bourse.

A weaker rand also gave industrials a slight boost.

The softer currency contributed to generally higher rand hedges with commodities buoyed by a slight increase in the oil price.

At the JSE’s close the rand had lost 0.50% on the day to $13.7144/$.

The JSE all share closed 0.20% higher at 51,999.50 points and the blue-chip top 40 gained 0.29%. After a late surge banks gained 0.43%. Industrials rose 0.27% and resources firmed 0.21%. General retailers added 0.15%. The gold index dropped 1.09% and food and drug retailers shed 0.97%.

At 5.32pm, the Dow Jones industrial average was down 0.27% at 18,343.49 points.

At the same time, the local near-dated top-40 Alsi futures index was 0.17% firmer at 45,880 points, with 29,360 contracts traded from 37,759 contracts on Thursday.