SYDNEY, Jan. 7 (Xinhua) -- The Australian share market finished slightly lower after a day of price turbulence, with a significantly discounted market attracting some buying on Wednesday afternoon, partly making up for earlier declines.
At the close, the benchmark S & P/ASX200 index was down 11.2 points, or 0.21 percent, at 5353.6 points. The broader All Ordinaries index was down 11.7 points, or 0.22 percent, at 5334.5 points.
Earlier the market had plunged in line with overnight international markets, with the benchmark index dropping 46.1 points, or 0.86 percent, before recovering.
Analysts said uncertainty over oil prices hit energy stocks, which lost 1.53 percent as a sector.
Santos lost 1.32 percent, and Woodside Petroleum 0.88 percent. Oil Search retreated 1.5 percent to $7.20, while Beach Energy dropped a bigger 6.7 percent.
The materials sector lost 0.3 percent, but Arrium was up 15.91 percent and Atlas rallied 7.84 percent.
BHP Billiton was flat, and rival Rio Tinto dipped 0.52 percent. Fortescue Metals fell 1.79 percent.
In consumer staples Woolworths gained 0.5 percent while Wesfarmers lost 0.65 percent. The sector lost 0.19 percent overall.
Financial stocks were up slightly, adding 0.05 percent. ANZ lost 0.19 percent, and the Commonwealth Bank fell 0.22 percent. The National Australia Bank lifted 0.24 percent and lost Westpac 0. 55 percent.
Meanwhile,Telstra rose 0.17 percent and airline Qantas fell 1. 92 percent.
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