Banks and supermarkets drag Australian shares lower
The Australian share market has dropped for the seventh time out of its past 10 sessions. -AAP Image
Australia's share market has had a dour start to the new financial year, dropping for the seventh time out of its past 10 sessions after a sell-off in banking and supermarket stocks.
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The benchmark S&P/ASX200 index on Wednesday finished 55.8 points lower at 8,722.9, a drop of 0.64 per cent, while the broader All Ordinaries fell 54.8 points, or 0.61 per cent, to 8,931.4.
The ASX200 ended the day at its lowest level in 20 days and up less than 0.1 per cent since the start of 2026.
The Australian dollar was trading for 68.90 US cents, from 68.77 US cents at 5pm on Tuesday.
