Local Market is Losing Onto Early Gains Today

• The Australian market is losing on morning session's early gains. In morning session, the benchmark S&P/ASX 200 index was up 13.5 points, or 0.25 per cent, at 5,340.7 points. The broader All Ordinaries index was up 13.9 points, or 0.26 per cent, at 5,339.3 points.

• Retail stocks were the best performers during opening session. Most of the big retailers were higher at noon trades. 

• Among the banking shares, the Commonwealth Bank was up 47 cents at $77.63, ANZ had gained 11 cents at $32.24, National Australia Bank was up three cents at $34.81 and Westpac was three cents higher at $32.17.

• In the resources sector, BHP Billiton was 24 cents higher at $37.53 while Rio Tinto had gained 66 cents at $67.50.

• The Australian dollar is trading weak against its US counter part. Presently, it is buying 88.84 US cents.

ASX 200 Tips