The Australian share market has again nudged above the 5,000 point mark but fell away in afternoon trade to end only slightly higher.
Financial and energy stocks were the best performers, with other sectors mixed.
Energy giant Woodside on Thursday reported a slide in revenue for the second quarter of the year due to a drop in oil prices and lower production.
Its shares fell in early trade, then rose, then fell away to finish one cent higher at $37.46.
Fellow energy company Santos is scheduled to release its second quarter activities report on Friday, and its shares gained 32 cents to $14.26.
Among the banks, ANZ rose by 15 cents to $28.95, Commonwealth Bank added 53 cents to $71.74, NAB gained 31 cents to $30.34 and Westpac climbed 28 cents to $29.68.
The market received a positive lead from Wall Street, which rose after Federal Reserve Chairman Ben Bernanke said the Fed's policy on tapering its bond-buying program was not on a "preset course".
"The ASX/200 again flirted in early 5,000 territory at the open, losing momentum almost as quickly and found itself plateauing for the rest of the afternoon to secure modest advances," CMC Markets sales trader Betty Lam said.
"Financial and energy stocks are finding the most support in today's session as they fight to keep the market's head above water."
In other news, Woolworths shares lost 37 cents to $33.32 after revealing its home improvement division will post a bigger than expected loss of $139 million in the 2012/13 financial year.
Rail operator Aurizon outlined more plans to cut jobs as it seeks to achieve savings of $230 million in the next two years.
Aurizon shares gained 16 cents to $4.55.
KEY FACTS
At the close, the benchmark S&P/ASX200 index was up 11.7 points, or 0.23 per cent, at 4,993.4.
The broader All Ordinaries index was up 10.4 points, or 0.21 per cent, at 4,976.9.
On the ASX 24, the September share price index futures contract was nine points higher at 4,949 with 19,069 contracts traded.
National turnover was 1.6 billion securities worth $4.3 billion.
