South African stocks ended barely changed on Wednesday on lack of direction and profit taking following Tuesday's record-breaking performance, but Sasol featured on the upside on rising oil prices.

The JSE's broader all share index ended 0.11 percent lower at 31 894.690. Resources fell 0.62 percent, the gold mining index was down 0.11 percent but the platinum mining index added 0.33 percent.

Banks were up 0.14 percent, industrials added 0.77 percent while financials lost 0.38 percent.

The rand was bid at 7.51 to the dollar from 7.55 when the JSE closed on Tuesday, while gold was quoted at $868.10 a troy ounce from $881.70 at the JSE's last close.

"It's on general lack of direction. Industrials are up, indicating an improvement in global sentiment, but the stronger rand and weakening gold price are putting some pressure on miners," one trader said.

But synthetics fuels maker Sasol was among the blue chips' top gainers on a combination of broker upgrade and as the oil price continues to trade near record highs, traders said

Shares in the maker of fuels from coal rallied to a fresh intraday high of 487 rand but pulled back to close 1.99 percent at 477.30 rand for the first time in its history.

Brent crude futures were last trading 0.43 percent higher at US$120.83 rand.

Meanwhile, brokerage house JP Morgan has increased Sasol's 12-month share price estimate to 548 rand from 499 rand on fresh assumptions about the oil price.

On the resource index, Anglo American was off 2.40 percent to 508 rand and BHP Billiton lost 2.10 rand to 286 rand.

Among gold counters, AngloGold Ashanti gained 1.43 percent to 291.10 rand but Harmony shed 2.41 percent to 88.90 rand.

Elsewhere, rumoured takeover target MTN Group slipped 1.24 percent to 158.01 rand following two days of record-breaking performance after the mobile phone firm said that it was in price-sensitive talks with India's Bharti Airtel, heightening speculation that it was a takeover target.

Telkom, the fixed phone line operator, was up 1.47 percent to 137 rand.

In the news, cement maker Pretoria Portland Cement dipped 1.16 percent to 38.50 rand. It earlier reported that it had lifted fully diluted headline earnings for the six months ended March by 16 percent to 126 cents per share compared with the same time a year ago.

UK-based shopping malls group Liberty International shed 2.47 percent to 138.49 rand after reporting a first quarter basic loss per share of 84.7 pence for the quarter ended March from earnings per share of 75.4 pence a year ago. Adjusted EPS amounted to 8.4 pence from 9.8 pence a year ago.

Just before the market opened, dual-listed paper maker Mondi (MND, MNP) said its new 470 000 tonne recycled containerboard machine and related box plant at Swiecie in Poland, at a total cost of Euro 350 million, was progressing well.

Shares in Mondi Limited were up 2.18 percent to 65.50 rand and in Mondi Plc were up 21 cents at 60.97 rand.

I-Net Bridge