Australia’s big banks have lost more than one per cent each on the stock market and shares finished lower.

The S&P/ASX200 benchmark index fell to a session low of 6079.8 points before it finished down 45.0 points, or 0.73 per cent, to 6116.4 on Wednesday.

The All Ordinaries index closed lower by 37.5 points, or 0.59 per cent, to 6294.5.

The Australian dollar was buying 71.90 US cents at 1620 AEST, higher from 71.76 US cents at Tuesday’s close.