Australian Market is Trading Flat Today

• The Australian market is trading flat after a slightly higher opening as investors are trading on sidelines because of outcome of US Federal Reserve's meeting. In morning, the benchmark S&P/ASX 200 index opened by 5.6 points up, or 0.1 per cent, at 5108.8, while the broader All Ordinaries gained 4.3 per cent, to 5110.4.

• Among the sectors, financials opened up by 0.3 per cent, materials were flat, while consumer discretionary shares fell 0.8 per cent.

• The Australian dollar also fell below 89 US cents for first time in four months ahead of US Fed Reserve's decision on stimulus cut. Presently, local unit is trading at 89.06 US cents, down from 89.51 US cents on Tuesday.

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