Australian stocks have closed lower, ending a two-day rally.

At 1615 AEDT on Friday, the benchmark S&P/ASX200 index was down 16.9 points, or 0.36 per cent, at 4,723.8 points, while the broader All Ordinaries index had fallen 18.5 points, or 0.39 per cent, to 4,742.9 points.

On the ASX 24, the March share price index futures contract was 13 points lower at 4,703 points, with 20,395 contracts traded.