On Tuesday , the share market got early losses to close lower for the second straight day as the weaker global markets weighed on the local sentiment. The losses emerged after the global markets reported significant falls for the first time in 2013.
At the trade closing, the benchmark S&P/ASX200 index was 24.8 points or 0.51%, lower at 4882.7, while the broader All Ordinaries index declined 26.5 points, or 0.54%, at 4902.6.
On the ASX 24, the March stock price index futures contract was 27 points decline at 4842, with 25,126 contracts traded. While, the US and the European markets was down sharply overnight, sparking how fragile the investor confidence is amid claims of the improper political payments in Spain, that sent bond yields there surging.
The profit-posting season in Australia had a lacklustrebegin, with Cochlear slumping 9 % of its stock price, while the Reserve Bank's decision to maintain the cash rate steady did not stimulate investors.
Most sectors were decline in Australia, including the dominant financials and resources, with just defensives gaining.
Macquarie forecast a rise in net profit of 10%, but that below its expectations and the investment bank's shares declined $1.57, or 4.05%, at $37.16.
Among the main banks, Commonwealth shed 41c to $64.30, ANZ added 9c to $26.64, National Australia Bank fell 26c to $27.79 and Westpac slumped 2c to $27.92.
In the resources sector, the global miner BHP Billiton eased 63c to $37.18, and Rio Tinto declined 66c to $67.33. Fortescue Metals slid 5c to $4.74.