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A late flurry of buying has helped the Australian share market close little changed after trading lower for almost all of Tuesday’s session.

The S&P/ASX200 benchmark index closed lower by 2.3 points, or 0.03 per cent, to 6681.9 on Tuesday.

The All Ordinaries closed higher by 2.0 points, or 0.03 per cent, at 6955.7.

The materials sector had the greatest gains, 1.81 per cent, helped by rises of more than two per cent for BHP and Rio Tinto.

The energy sector fared worst, down 1.08 per cent, after OPEC+ could not decide whether to increase output in February and oil prices fell.

Earlier, US markets closed lower ahead of Senate elections in the state of Georgia that will determine control of the chamber.

The result will affect whether president-elect Joe Biden has support for his agenda of rewriting the tax code, boosting stimulus and infrastructure spending.

The Aussie dollar was buying 77.08 US cents at 1622 AEDT, higher from 76.93 US cents at the close of trade on Monday.