The Australian share market has opened lower after a negative lead from Wall Street overnight.

The benchmark S&P/ASX200 index was down 7.6 points, or 0.11 per cent, to 6,633.4 points at 1015 AEST on Wednesday, while the broader All Ordinaries was up 8.1 points, or 0.12 per cent, to 6,727.7.

Energy shares had the steepest drop in early trade as the sector fell 0.97 per cent after an easing of US-Iran tensions lowered oil prices.

The heavyweight mining sector was mixed, with BHP up 0.32 per cent to $41.29, Rio Tinto down 0.15 per cent to $103.10 and Fortescue Metals down 1.33 per cent to $8.87.

The big four banks – ANZ, Commonwealth, NAB and Westpac – were down by between 0.20 per cent and 0.40 per cent.

Consumer discretionaries were up 0.72 per cent – the best-performing sector on the ASX – as Aristocrat Leisure added 4.32 per cent.

On Wall Street overnight, the Dow Jones Industrial Average finished down 0.09 per cent, the S&P 500 was down 0.34 per cent and the tech-heavy Nasdaq Composite was down 0.43 per cent.

The Aussie dollar is buying 70.16 US cents from 70.31 US cents on Tuesday.