At closing bell, the benchmark S&P/ASX200 advanced 5.29 points, or 0.07%, to 7,448.71. The broader All Ordinaries index fell 1.36 points, or 0.072, to 7,757.98.
Total 6 of 11 sectors ended higher along with the S&P/ASX 200 Index. Telecommunications Services was the best performing sector, gaining +1.94%, while consumer staples was worst performing sector, falling 2%.
The top performing stocks in this index were UNITI GROUP and RELIANCE WORLDWIDE CORP, up 5.8% and 4.6% respectively. The worst performing stocks in the S&P/ASX200 index were CODAN and THE A2 MILK Co, up 18.8% and 12% respectively.
Shares of materials and resources were down on lower base metal prices, with BHP and Rio Tinto losing 1.4% and 1.8%, respectively.
Gold stocks declined as bullion prices fell on dollar strength. Gold miner Evolution lost 2.4% and Northern Star Resources dropped 1.4%
Shares of Supermarket giant Woolworths tumbled 3.2% after flagging a slowdown in sales.
ECONOMIC NEWS: Australia Core Inflation Accelerates In Q3- Australia's core inflation accelerated more than expected in the third quarter, data from the Australian Bureau of Statistics showed on Wednesday. The weighted median measure of core inflation accelerated to 2.1% from 1.6% in the second quarter. The expected rate was 1.8%. This was the strongest inflation since 2015. On a monthly basis, the underlying measure gained 0.7%. Meanwhile, consumer price inflation slowed to 3% in the September quarter from 3.8% in the prior quarter. On a quarterly basis, consumer prices logged a steady growth of 0.8%.
CURRENCY NEWS: The Australian dollar rose to $0.7506, against an earlier low of $0.7495.
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