The share market recorded higher at the opening today, owing it to the financial and energy sectors.

At 10.15am (AEST), the benchmark S&P/ASX200 index went up 7.6 points, or 0.17 per cent, at 4420.6 points. The broader All Ordinaries index, meanwhile, rose six points, or 0.15 per cent, at 4446.

On the Sydney Futures Exchange, the September futures contract was down four points at 4413 points, on volume of 6981 contracts.

Higher oil and base metal prices in overnight trading on Friday saw energy and resource shares open at elevated levels.

In the energy sector, Woodside Petroleum increased by 35c to $43.63, Oil Search went up 8c to $5.78 and Santos gained 6c at $12.76.

The major mining stocks were more low-key, with Rio Tinto leveled at $69.60 and BHP Billiton at $38.87, an increase of 7c.

A number of smaller materials stocks posted stronger improvements, including chemical maker Orica, higher by 35c at $25.46. Fortescue Metals went up 5c at $4.41.

The financial sector was also higher at the opening. Among the major players, National Australia Bank improved 8c at $23.88, Westpac rose 5c to $21.80, ANZ gained 21c to $22.68 and Commonwealth added 42c at $50.42.
By 10.30am, however, the major indices had returned to around flat.

Uncertainty remained the dominant theme in the market, according to Bell Potter senior adviser Stuart Smith.

"We've got a tremendous amount of uncertainty," he said.

"We've had a change of leader in the Government, and people are asking what is the Government going to do?

"Are they going to can the mining tax altogether and revisit it later? I've got a suspicion that's what they'll do to get re-elected.

"We will most definitely get some news on that front this week, but uncertainty unnerves the market."

The upward movement in the financial market most likely resulted from the lack of any resolutions at the weekend's G20 meeting on a tax on banks.

"They voted against a tax on banks, so that's probably the reason for our banks being in the green," Mr Smith said.