SYDNEY: The Australian stocks ended marginally lower after a volatile day, with the heavily low-cost market drawing some buying during the afternoon that pared earlier reduction.
At the 4.15pm (AEDT) official market close, the benchmark S & P/ASX200 index was down 11.2 points, or 0.21 per cent, at 5353.6 points, while the broader All Ordinaries index was down 11.7 points, or 0.22 per cent, at 5334.5 points.
Earlier, the market had plunged in line with weak global bourses, with the benchmark index dropping 46.1 points, or 0.86 per cent, before recovering toward the close.
Dealer for Patersons Securities, Martin Angel, said discounted stocks, combined with market futures indicating a positive Wall Street session tonight, brought out bargain hunters in the latter part of trading.
“The market took a pretty heavy fall yesterday and was selling right across the board. Today it started off lower, but some of the futures indications from the US are showing they might have an up night, so there wasn’t much selling in the afternoon, and there was a bit of nibbling going around,” Mr Angel said
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