Aust stocks close lower

Local market closes weaker as investors wait for the federal budget.

The Australian sharemarket was weaker at the close as investors wait to see how the market responds to next week’s federal budget. 

At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index fell 16 points, or 0.29%, to 5,460.8 points,, while the broader All Ordinaries index lost 13.8 points, or 0.25%, to 5,441.8 points

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