Aust stocks close flat

The Australian sharemarket closed the session flat following  last night's release of the federal budget as some of the major banks trade ex-dividend.

At the 4.15pm (AEST) official market close, the S&P/ASX200 index fell 1.7 points, or 0.03%, to 5,496.5, while the broader All Ordinaries index added 0.5 of a point, or 0.01%, to 5,475.9 points.

"Australian equities have been mixed today with investors focussing on CBA’s result and a chunky dividend coming out of the market," IG market strategist Stan Shamu said.

"ANZ also caught a tail wind off the result and pushed higher while Westpac, NAB and Macquarie struggled as they traded ex-dividend."

In Australia, the market yesterday closed higher, led by big mining stocks, after markets in the United States lifted and investment bank JPMorgan expressed confidence in the resources sector.

The benchmark S&P/ASX200 index was up 49.8 points, or 0.91%, at 5,498.2 points.

The broader All Ordinaries index was up 46.4 points, or 0.85%, at 5,475.4 points