The Australian market opened marginally lower in quiet trade on Friday, with gains in the gold and telecoms sectors offset by weakness among metals and minerals, and materials stocks.
At 1028 AEDT, the benchmark SP/ASX200 index was down seven points, or 0.16 per cent, at 4,275.9 points, while the broader All Ordinaries index had fallen 6.4 points, or 0.15 per cent, to 4,350.7 points.
On the ASX 24, the March share price index futures contract was down 14 points at 4,241 points, with 6,079 contracts traded.
Gold stocks opened up 0.88 per cent, while the telecoms sector had advanced 0.7 per cent, according to IRESS data.
On the minus side, metals and minerals companies were 0.69 per cent weaker and the materials sector was down 0.55 per cent.
The best-performer in the SP/ASX50 was Newcrest Mining, which was up 2.63 per cent, or 88 cents, at $34.32.
Newcrest on Friday said first-half net profit rose 50 per cent to a record high due to stronger sales of gold, silver and copper.
The spot price of gold in Sydney was $US1,731.40 per ounce, down $US5.355 from Thursday's local close of $US1,736.755 per ounce.
RBS Morgans Ipswich manager Tony Russell said the subdued start to the day's trade may indicate an end to the volatility seen in the market in recent times.
'The volatility that we have had, which has been extraordinary, over the last six months cannot continue,' Mr Russell said.
'You can't just maintain that pace of volatility in the market. It is not sustainable.'
Wall Street closed marginally higher - the Dow Jones Industrial Average finished up 0.05 per cent, the SP500 advanced 0.15 per cent and the NASDAQ climbed 0.39 per cent.
On the local market, turnover was 329.8 million securities worth $513.0 million, with 287 stocks up, 282 down and 329 unchanged.
Mr Russell said the market would be looking at the Reserve Bank of Australia's (RBA) quarterly statement on monetary policy - due at 1130 AEDT - for potential clues about the future direction of interest rates.
'It certainly gives an indication of what they are thinking and what their strategy might be,' Mr Russell said.
