Australian share market finished steep lower on Tuesday, 05 July 2016, on the back of unresolved election woes and as the Reserve Bank of Australia kept interest rates on hold at 1.75%. All sectors except utilities suffered selloff pressure with consumer staples, consumer discretionary, property trusts, and financials blue chip stocks being major losers. At close of trade, the benchmark S&P/ASX 200 index tumbled 53.80 points, or 1.02%, to 5228. The broader All Ordinaries shrank 52.40 points, or 0.98%, to 5312.80. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 610 to 455 and 294 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 2.15% to 18.917.
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