THE Australian share market closed slightly higher due to strength among financial stocks.
The gains came as the Reserve Bank of Australia held the cash rate at three per cent, equal to its lowest level on record.
CommSec market analyst Tom Piotrowski said banking stocks were under the microscope ahead of bank reporting season, but there were no clear drivers of the local market after the four-day Easter holiday.
"The market was able to hold on to its gains," Mr Piotrowski said.
"There weren't too many insights on offer.
"The banks did pretty well and they'll be supported on any weakness."
He said the market did not flinch after the RBA's decision to keep interest rates on hold.
The Australian market today also took into account moves on Wall Street on Thursday and overnight.
