SYDNEY, Dec. 29 (Xinhua) -- The Australian share market closed lower on Friday, with gains in the mining sector unable to lift the muted trading at the end of the year.
At the close, the benchmark S&P/ASX200 stock index was down 23 points or 0.38 percent at 6,065.1, while the broader All Ordinaries index dropped 22.1 points or 0.36 percent at 6,167.3.
CMC Markets chief market analyst Ric Spooner told Xinhua that while the market did hold on to gains in the mining stocks, following the strong performance of the metals markets overnight, "we basically just really saw a reversal of what went on yesterday."
"The market this week is just pretty much in neutral mode outside those mining stocks ... those traders and investors who are not on holiday, they've collectively decided to leave until next week or the new year the question of where the market goes to from here," he said.
The big banks ended lower, with ANZ down 0.28 percent, Commonwealth Bank of Australia slipping 0.22 percent, the National Australia Bank dipping 0.14 percent and Westpac losing 0.57 percent.
Mining giant BHP Billiton rose 0.41 percent and rival Rio Tinto climbed 1.5 percent. Gold miner Newcrest edged up 0.04 percent.
Oil Search edged down 0.06 percent, Santos was up 0.65 percent and Woodside Petroleum dipped 0.21 percent.
Wesfarmers fell 0.65 percent and rival supermarket chain Woolworths was down 0.8 percent.
Qantas gained 0.6 percent, telecom giant Telstra fell 1.09 percent and biomed group CSL added 0.39 percent.
