* Sasol, Sanlam, Exxaro trade ex-dividend
* Market sheds more than 1 percent
JOHANNESBURG, April 7 (Reuters) - South African stocks fell sharply on Monday, led by media and e-commerce group Naspers , which was hit by a sell-off in Chinese Internet giant Tencent Holdings, of which it owns more than a third.
Naspers’ shares shed 5.8 percent to 1,041.30 rand, making it the biggest decliner on the Top-40 index. Tencent shares lost 4.5 percent after a recent sell-off in Internet-related stocks on Wall Street.
But charts suggest Naspers has strayed into oversold territory and so could be in for a rebound, according to its 14-day RSI, a momentum indicator tracked by some analysts.
The market was also pulled down as some blue chips traded ex-dividend, or without the right to their latest dividend.
These included South Africa’s largest insurer, Sanlam , which fell 3.25 percent to 54.99 rand, and coal producer Exxaro, which lost 3.2 percent.
Petrochemicals giant Sasol also traded ex-dividend, stumbling 1.7 percent.
The Top-40 index ended the day 1.19 percent lower at 43,020.25. The wider All-share index lost 1.01 percent to 47,857.95.
Decliners outnumbered advancers 197 to 113, according to preliminary bourse data, while trade was relatively brisk with around 210 million shares changing hands. (Reporting by Ed Stoddard; Editing by Ed Cropley)