Aussie market treads water in early Tuesday trade

The Aussie market is treading water early on Tuesday as traders take stock following Monday's public holiday closure while awaiting a series of data later in the weak.

At the 10:15 a.m. (AEST) official market open, the benchmark S&P/ASX 200 index slipped 0.3 points, or 0.01 per cent, to 5236.1, while the broader All Ordinaries index edged 1 point, or 0.02 per cent higher, to 5300.2.

Soft leads from offshore equities have filtered onto the local market as key commodities declined for the second straight session, while falls in oil a are weighing on energy stocks which were a key driver of bourse's drive above 5000 points.

"The commodities rally appears to be taking a pause, which has seen equity markets pull back as the outperforming materials and energy sectors now begin to drag on indices," said IG market analyst Angus Nicholson.

In early trade, BHP Billiton fell 2.31 percent, rival Rio Tinto is down 2.65 percent while gold miner Newcrest edged 0.28 percent higher.

Oil Search dropped 2.30 percent, Santos slipped 0.97 percent despite Woodside Petroleum up 0.50 percent.

Keeping stocks higher, the Commonwealth Bank of Australia is up 0.19 percent, Westpac added 0.42 percent though ANZ lost 0.29 percent and the National Australia Bank was 0.14 percent weaker.

Wesfarmers lifted 0.36 percent however rival Woolworths dropped 0.41 percent.

Qantas shed 2.37 percent while Telstra is 0.46 percent weaker. Endit