ASX falls flat after RBA cuts to 1.0%

The futures market is pointing to a positive start for the ASX. (AAP)

The Australian share market has moved higher despite losses for the big four banks.

The Australian share market has risen as investors await the central bank's cash rate decision.

The benchmark S&P/ASX200 index was up 20.2 points, or 0.30 per cent, to 6,668.3 points at 1200 AEST on Tuesday, while the broader All Ordinaries was up 22.3 points, or 0.33 cent, to 6,753.7.

The mining and utility sectors were the highest climbers, adding 1.07 per cent and 0.88 per cent respectively.

BHP was up 0.91 per cent to $42.06 while Rio Tinto was up 1.43 per cent to $106.25 and Fortescue Metals was up 0.98 per cent to $9.24.

Among utility companies, AGL was up 1.14 per cent to $20.38 and Genesis Energy was up 0.94 per cent to $3.21.

Only two sectors - financials and telecommunications - were in negative territory by midday.

The big four banks were all lower, with ANZ down 0.57 per cent to $28.12, Commonwealth down 0.75 per cent to $81.70, NAB down 0.41 per cent to $26.69, and Westpac down 0.81 per cent at $28.14.

Afterpay was up 5.82 per cent to $25.82 after the buy-now-pay-later provider named co-founder Anthony Eisen as chief executive and managing director.

Blackmores was up 0.43 per cent to $90.40 following the vitamin maker's announcement that it had appointed Alastair Symington as chief executive.

The Reserve Bank of Australia will announce its decision on monetary policy at 1430 AEST, with many economists anticipating another cut in the cash rate to a new low.

The Aussie dollar is buying 69.75 US cents from 69.94 US cents on Monday.

Source AAP

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