The S&P/ASX200 edged 0.8 points higher on Monday, up 0.01 per cent to 8,728.6, while the broader All Ordinaries fell 1.9 points, or 0.02 per cent, to 9,034.7.
"The market itself closed reasonably flat ... as uranium and energy stocks rallied, partly driven by political tensions in Venezuela, lifting risk assets in commodity sectors," Moomoo market strategy consultant Greg Boland said.
"Oil prices have been hovering around $US57 a barrel, shifting between gains and losses as investors assess the implications of the US attack on Venezuela and the capture of their president. Markets are really weighing up the potential impact on crude supplies."
While Venezuela is not currently a leading oil producer, it holds some of the biggest crude reserves in the world.
Only raw materials stocks ended the day clearly higher as a bounce in iron ore prices boosted large-cap giants BHP and Fortescue, while Rio Tinto jumped more than one per cent to a new intraday peak of $150.14.
Gold stocks also rallied as the precious metal climbed to one-week highs above $US4,420 ($A6,625) an ounce, supporting names such as Northern Star, Newmont and Genesis Mineral, which each gained more than two per cent.
Fossil fuel giants Woodside and Santos gave up early gains to slip roughly one per cent by the close, tracking with oil price volatility after US forces bombed Venezuela and snatched Maduro at the weekend.
The energy sector fell 0.4 per cent by the close, with a mixed performance from coal producers but broad strength across uranium stocks, including solid gains for Paladin, Deep Yellow and Canada's NexGen.
Laser enrichment technology Silex Systems was the top-200's best performer with an almost 10 per cent gain, while imaging company 4DMedical swung a similar magnitude in the other direction as investors took profits on the previous week's price surge.
Battery minerals and rare earths miners also benefited from the upswing in commodity prices, sending both Liontown and Lynas more than four per cent higher.
The financial sector had an underwhelming session, down less than 0.2 per cent, as a sluggish CBA, Macquarie Group and insurance sector outweighed modest gains for ANZ, Westpac and NAB.
Technology was the worst-performing sector, down 2.6 per cent and tracking with a 3.2 per cent slip in segment giant WiseTech after its enforceable undertaking to divest its Expedient subsidiary was accepted by the ACCC following competition concerns.
The consumer discretionary sector also took a hit, down 1.6 per cent in a broad segment sell-off.
Communication stocks lost 1.4 per cent, dragged lower by weakness in REA Group, Seek and Carsales.com.au owner Car Group.
The Australian dollar is buying 66.75 US cents, up from 66.94 US cents on Friday at 5pm.
ON THE ASX:
* The S&P/ASX200 rose 0.8 points, or 0.01 per cent, to 8,728.6.
* The broader All Ordinaries fell 1.9 points, or 0.02 per cent, to 9,034.7
CURRENCY SNAPSHOT:
One Australian dollar trades for:
* 66.75 US cents, from 66.94 US cents at 5pm AEDT on Friday
* 104.92 Japanese yen, from 105.07 Japanese yen
* 57.13 euro cents, from 56.97 euro cents
* 49.71 British pence, from 49.71 British pence
* 116.00 NZ cents, from 116.27 NZ cents
