The local share market finished flat as investors sit on their hands ahead of Saturday’s federal election.

Trading volumes were low on Friday as market players weighed up a probable coalition election victory but remained uncertain about the makeup of the Senate.

RBS Morgans director of equities Bill Chatterton said traders were waiting for an election outcome before putting money into growth assets.

“We’re just marking time,” Mr Chatterton said.

“The main reason for the low volumes and steady market is the election.”

The absence of strong leads from overseas had also contributed to a lacklustre performance, he said.

The local market finished broadly flat over the week.

Still, it is significantly higher than its recent low at the end of June.

Resources stocks were mixed, with BHP Billiton down 12 cents to $35.16 and Rio Tinto was 10 cents lower at $60.90.

Iron ore miner Fortescue reversed the trend, gaining 12 cents to $4.54.

The major banks were all higher, with National Australia Bank three cents higher at $32.77, ANZ up nine cents to $29.69, Commonwealth Bank rose 24 cents to $73.16 and Westpac was up 16 cents at $31.64.

Telstra was down two cents at $4.80.

KEY FACTS

* At the close on Friday, the benchmark S&P/ASX200 index was up 2.5 points, or 0.05 per cent, at 5,145.

* The broader All Ordinaries index was up 5.6 points, or 0.11 per cent, at 5,144.

* The September share price index futures contract was six points lower at 5,155, with 20,124 contracts traded.

* National turnover was 1.4 billion securities worth $4 billion.