SYDNEY, AAP – A heavy fall for market giant CSL has prevented ASX investors from riding the momentum of a lower unemployment rate.

CSL shares slumped a little more than eight per cent on Thursday after the biotech sold $6.3 billion in new stock to fund a takeover of pharmaceutical group Vifor Pharma.

The market was higher after the national jobless rate improved to 4.6 per cent, yet momentum did not last.

The benchmark S&P/ASX200 index closed down 31.4 points, or 0.43 per cent, to 7295.7 points on Thursday.

The All Ordinaries closed lower by 22.1 points, or 0.29 per cent, to 7614.1 points.

The Australian dollar was buying 71.56 US cents at 1621 AEDT, higher from 71.16 US cents at Wednesday’s close.