South African stocks fell, as metal producers AngloGold Ashanti and Gold Fields were hit by lower gold prices and concerns about appetite for emerging markets after the U.S. Federal Reserve signalled an end to its stimulus programme.
The U.S. central bank on Wednesday announced the end of its bond-buying stimulus, a programme that at its peak pumped $85 billion a month into the financial system, helping lift shares in South Africa and other emerging markets.
"This means there will be less money flowing into emerging markets," said Ryan Woods, a trader at Independent Securities, referring to the Fed move.
The benchmark Top-40 index fell by 1.05 percent to 43,336. The broader All-Share index fell 0.93 percent to 48,660.
AngloGold Ashanti, Africa's largest producer of the precious metal, tumbled by 6.7 percent to 96 rand, while smaller rival Gold Fields dropped 4 percent to 38.50 rand.
Both companies were hit as spot bullion prices slipped on the back of the Fed comments. Gold dipped below $1,200 an ounce, its lowest since the first week of this month.
Other metal producers were also hit, with Kumba Iron Ore dropping 3.1 percent to 276.25 rand.
Trade was highly active, with 234 million shares changing hands according to preliminary bourse data. That outstripped last year's daily average of 176 million shares.
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