Shares scupper early lead but book four months of gains

The ASX200 surged almost 93 points in early trade, but that lead had largely crumbled by the close. (Dean Lewins/AAP PHOTOS)

Australian shares have posted a fourth straight month of gains, but a final session rally largely crumbled as investors took profits ahead of a historically weak period for the exchange.

The S&P/ASX200 jumped 92 points in early trade but ended Friday's session just 9.1 points higher, up 0.1 per cent, to 8,976.8, as the broader All Ordinaries gained 14.3 points, or 0.16 per cent, to 9,137.