The sharemarket fell back from record highs Sep 15,2005

The sharemarket fell back from record highs yesterday with only oil stocks and a resurgent Telstra defying the gloom.
The telecom's recovery from the recent sell-off was boosted as Federal Parliament gave the all clear for sale of its stake.
Telstra closed up 8c at $4.44 and was the top traded stock by volume with 61.5 million shares changing hands for $270.84 million.
Most stocks followed the lead of the US market, which was spooked by oil prices again rising above $US65 ($84) a barrel.
But FW Holst & Co analyst Michael Heffernan said the domestic market had shown strength in the face of adverse conditions.
"The market is only down 0.1 per cent. That is another very resilient day in the face of much weaker markets in the US and with oil performing the way it is."
The ASX 200 index fell 4.4 points to 4513.9. The All Ordinaries was down 7.2 points to 4466.4.
The higher oil prices saw oil and gas stocks strengthen, with Woodside Petroleum soaring 61c or 1.9 per cent to $32.71 while Santos rose 12c to $11.17.

Among banking stocks, National Australia Bank fell 14c to $31.66 after it said it would take three years to restore its retail business after a dip in customer satisfaction. Westpac dropped 12c to $20.48, CBA 8c to $37.74 and ANZ eased 2c to $22.87 as it launched its new Cambodian operations.
Despite a drop in commodity prices, mining stocks defied the market trend with Rio Tinto the best of the bunch, posting an 85c gain to $52.44.
BHP Billiton was up 11c to $20.70 and Alumina firmed 1c to $6.01.
Retail stocks also held their ground with Woolworths up 1c to $16.13 while Coles Myer rose 7c to $10.22.
Shares in Gunns jumped 21c or 6.86 per cent to $3.27 on rumours that Futuris was poised to launch a takeover bid for the group. Futuris fell 3c to $2.17.