South African bourse closes higher as investors await interest rate clues from the Fed

The industrial index surged up to assist the Johannesburg Stock Exchange (JSE) close higher on the close of session on Friday.

The all-share index was up 0.34 percent to 54,105.37 points, while the blue chip Top-40 was up 0.49 percent at the close of session of Friday.

The Industrial shares assisted to offset losses in resources, gold miners and financial shares. Sell-off was mostly evident in the banking and platinum sectors, which lost 0.95 percent and 4.26 percent, respectively. The Financial index was 0.05 percent higher and the resources sector had lost 0.85 percent.

Markets is still to digest from U.S. Fed's decision on the rate hikes.

Ratings agency Moody's on Friday lowered its outlook for the South African banking system to negative from stable, citing deteriorating operating conditions it expected in the next 12 to 18 months.

The rand was trading at R15.64 to the U.S. dollar, R17.42 to the euro and R22.84 to the British pound at 5: 00 p.m. local time.

Gold had fallen 0.55 percent to 1212.95 dollars an ounce, silver had lost 0.40 percent to 16.23 dollars an ounce, and platinum had declined 0.64 percent to 982.12 dollars an ounce.

Among individual shares on the JSE, diversified industrial group Bidvest was up 4.03 percent to R370.33.

Anglo American Platinum lost 2.23 percent to R140.69 and Sibanye gave up 2.08 percent to R45.58.

Sanlam was however 2.19 percent stronger at R64.89 and Barclays Africa dropped 2.71 percent to R146.31. Endit