Aust stocks close flat

Local market little changed after NAB survey finds business confidence falls.

The Australian stock market has closed flat after NAB's monthly business survey showed a slump in confidence. 

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index inched up 0.11% to 5,393.1 points, while the broader All Ordinaries index edged up 0.11% to 5,386.8 points.

NAB's October business survey showed business confidence fell sharply as actual business conditions remain weak.

IG chief market strategist Chris Weston said the market saw buyers in early trade.

"But as the morning rolled on, sellers moved in," Mr Weston said.

"Price action, at least from an index perceptive, looks lethargic and lacks a catalyst."

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