The Australian share market has finished flat as lacklustre trade failed to spark momentum.
After almost hitting 6,000 points for the first time in seven years on Monday, investors were unwilling to push the local bourse up to the key level amid thin volumes.
OptionsXpress analyst Ben Le Brun said there had been a lack of direction on Wednesday, with no significant economic data or corporate news out this week.
“It’s been a bit listless today,” Mr Le Brun said.
“The idea of reaching 6000 points is just a bridge too far on a nothing day with light volumes.”
High dividend yield plays such as the big banks were well supported.
But their gains were offset by falls in the energy sector.
Commonwealth Bank rose 77 cents to $95.86, Westpac lifted 32 cents to $39.89, National Australia Bank had added 35 cents to $39.30 and ANZ rose 30 cents to $37.19.
Global miner BHP Billiton fell 11 cents to $31.11 and Rio Tinto was 54 cents weaker at $56.83 while Fortescue Metals firmed three cents to $2.04 amid a near two per cent jump in the beleaguered iron ore price.
In the energy sector Woodside Petroleum dropped 31 cents to $35.10 and Santos was five cents weaker at $7.34.
KEY FACTS
* At the close on Wednesday, the benchmark S&P/ASX200 index was 4.2 points, or 0.07 per cent, lower at 5,973.3.
* The broader All Ordinaries index was up 2.6 points, or 0.04 per cent, at 5,937.1, according to preliminary figures.
* The June share price index futures contract was nine points lower at 5,969, with 17,246 contracts traded.
* National turnover was 1.96 million securities worth $5.42 billion.
