Local shares rose a modest 7.8 points, or 0.25 per cent, even as world markets rejoiced a landmark nuclear deal between world powers and Iran.

It was a quiet day on the market with many punters already starting to take their year-end break - only 1.23 billion shares worth $630.4 million changed hands.

Losers outnumbered gainers 204 to 157.

KLW was the top active, staying flat at 2.9 cents with 101.8 million shares swapped.