Market set to track lower at open

The Australian sharemarket is expected to open lower after US stocks fell amid nervousness about the US fiscal cliff negotiations.

At the close of trade on Christmas Eve on Monday on the ASX 24, the March share price index futures contract was up 21 points at 4613 points.

Australian stocks rose to 18-month highs on light volumes on Christmas Eve.

The benchmark S&P/ASX200 index closed 11.6 points, or 0.25 per cent, higher at 4635.2, while the broader All Ordinaries index was up 10.4 points, or 0.22 per cent, at 4645.6.

The West Australian

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