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The S&P/ASX 200 moved within a band of just 33 points today, falling from 7137 at the opening down to a low of 7104 points around lunch time. The index found a comfortable spot around 7120 points for the afternoon, moving sideways until closing at 7125.1, just 5.1 points lower than Friday.
The biggest gain was a 6.2 per cent rise in National Storage to $2.40, followed by a 4.3 per cent gain in QBE Insurance to $14.76, the first time the stock has been above $14.50 in four and a half years.
Caltex Australia also enjoyed a strong performance, rising 3.9 per cent to $34.85.
Meanwhile Jumbo Interactive had the biggest decline of 6.8 per cent to $12.14, and Pro Medicus fell 6.5 per cent to $23.41.
The financials sector was the biggest drag today, apart from QBE, as Commonwealth Bank fell 1.7 per cent to $89.46 after rising 2.5 per cent on Friday. The big four banks all closed lower.
Points were also taken away as Telstra fell 1.3 per cent to $3.72, Transurban dropped 1.2 per cent to $16.18, and Sydney Airport dropped 2.1 per cent to $8.40.
Brambles also helped add points with a gain of 3.9 per cent to $13.14, and a2 Milk gained 3.4 per cent to $15.72.