Stocks ended deep in the red on Tuesday weighed by resource counters amid profit taking and risk aversion.

At 5pm the JSE all share index had lost 1.37 percent. Resources shed 1.19 percent, and platinum and gold producers weakened 0.43 percent and 0.16 percent respectively.

Banks gave up 1.80 percent, financials were down 1.38 percent and industrials weakened 1.56 percent

The rand was bid at 7.85 to the dollar from 7.85 when the JSE closed on Monday. Gold was quoted at $1061.40 a troy ounce from $1060.05 at the JSE's last close, and platinum was at $1333.50/oz, from $1331/oz at its previous close.

"There is profit taking, it was a negative day today. Risk aversion is also coming back into the market," a trader said.

"The risk aversion supports the dollar which in turn puts commodity prices under prices under pressure, and that is why our market is down so much. The bigger weight of our market is down.

"The rand is weak. It's stronger than its lows, but it's still very, very, weak and it's not even supporting these metals," he said.

"The Dow opened weaker and that is also weighing on our market. We are just following what is happening overseas," he added.

Dow Jones Newswire reported that US stocks opened lower on Tuesday on some economic jitters ahead of a two-day policy meeting from the Federal Reserve, with traders looking past a decision by Warren Buffett's Berkshire Hathaway to purchase Burlington Northern Santa Fe in a bet on economic recovery.

Early on Tuesday, the DJIA traded off 50 points to 9747. Within the index, financials were particularly weak, including a decline of 1.4 percent for Bank of America.

Setting off the drop for financials, Swiss banking giant UBS AG fell more than six percent as it swung to a more than $500-million loss in the third quarter on a variety of charges, and cautioned that heavy withdrawals from wealthy clients will persist in coming months following a dismal performance from its private bank.

While stocks climbed on Monday with the Dow Jones Industrial Average up 76 points to open the week, the move did little to dent a string of triple- digit declines in the DJIA last week. Better-than-expected data on manufacturing and housing helped, though a string of other economic data remains weighing over the market this week. For Tuesday, traders will be keyed into US factory orders for September, due out at 10am EST.

In addition, the Federal Open Market Committee begins its two-day meeting on Tuesday - traditionally no word comes from the Fed on the first day. Given the fact moves in the dollar have regularly served as an important tool for stock traders, there is heightened focus on the Fed's statement expected on Wednesday.

When the JSE closed, the DJIA was last off 0.27 percent.

Back in Johannesburg, Anglo American plc lost 1.30 percent to 289.20 rand and BHP Billiton shed 2.24 percent to 211.26 rand.

Petrochemicals group Sasol was unchanged at 293.50 rand.

Paper group Sappi was off 2.12 percent to 28.20 rand and Mondi gave up 2.27 percent to 43.10 rand.

Highveld Steel was down 4.19 percent to 60.36 rand, ArcelorMittal gave up 3.63 percent to 101 rand and Kumba Iron Ore shed 2.95 percent to 222.01 rand.

AngloGold Ashanti was up 2.80 rand to 302.90 rand, but Gold Fields eased 29 cents to 101.50 rand and Harmony fell 3.09 percent to 76.41 rand.

Platinum miner Anglo Platinum put on 1.90 percent to 664 rand, but Impala Platinum was 3 1.78 percent lower at 167.96 rand and Lonmin (LON) shed 4.75 rand, or 2.42 percent, to 191.50 rand.

Among industrials on the JSE, brewer SABMiller was down 3.43 rand, or 1.64 percent, to 206 rand, Imperial weakened 1.40 percent to 77.49 rand and Barloworld was off 2.72 percent to 49.37 rand.

Banker Standard Bank lost 1.55 percent to 95 rand, Nedbank was down 3.02 percent to 112.50 rand, Absa fell 1.63 percent to 120.50 rand and FirstRand weakened 2.09 percent to 16.89 rand.

Sugar group Illovo lost 6.47 percent to 33.40 rand. It earlier said in a trading update that its headline earnings per share (HEPS) and earnings per share (EPS) for the six months ended 30 September are expected to be between 25 percent and 30 percent higher than those of the previous corresponding period.

Operating profits for the period are anticipated to increase by around 35 percent.

Illovo said its results are generally impacted by production volumes, domestic market sales, the level of the rand compared to other currencies, and by the world price of sugar.

Media group Naspers shed 4.13 percent to 269.50 rand.

Among retailers, Truworths was down three percent to 42.68 rand, Lewis declined 2.90 percent to 51.90 rand and Mr Price lost 4.21 percent to 33 rand.

Construction group Aveng weakened 1.02 percent to 39.60 rand.

Telecommunications group MTN Group collected 38 cents to 114.99 rand, but Telkom was down 2.80 percent to 41.61 rand and Vodacom gave up 2.50 percent to 51.55 rand.

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