Afternoon trading March 19

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

The share market drifted sideways as investors held their fire ahead of this afternoon's Reserve Bank interest rate announcement.

The ASX 200 gave an opening 15-point rally to reach mid-session half a point or 0.01% lower. A four-month high in oil and a rebound in iron ore prices steered resource stocks higher, countering declines in Telstra, Wesfarmers, the major supermarkets and some of the banks.

The RBA is scheduled to release an updated monetary policy statement and any change to the cash rate target at 2.30 pm AEDT. Economists forecast no change to the benchmark rate.

US stocks rallied overnight as investors bought the megacap growth stocks that have driven this year's gains. The S&P 500 firmed 0.63%.


Personal trading: Gains from ENV and DVL. Also looking for something from MEM, ONE and JAN.