Aust stocks close lower

Selling gathers momentum as nervous investors eye next week's federal budget.

The Australian sharemarket closed some 0.8% lower today, with selling gathering momentum as nervous investors take some money off the table ahead of next week's federal budget. 

At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index shed 45.6 points, or 0.83%, to 5,435.8, while the broader All Ordinaries index gave up 43.6 points, or 0.8%, to 5,419.1.

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