The Australian share market has opened lower after the major banks lost much of their previous day’s gains following NAB’s first-half profit announcement.
The benchmark S&P/ASX200 index was down 46.6 points, or 0.73 per cent, to 6,329.3 points at 1015 AEST on Thursday, while the broader All Ordinaries was down 44.4 points, or 0.69 per cent, to 6,422.1.
The energy sector led losses, collectively falling 1.37 per cent.
The heavyweight financial sector dropped 1.34 per cent as a whole in the first 15 minutes of trade.
ANZ was down 2.56 per cent to $27.235, Commonwealth was down 1.05 per cent to $74.71 and Westpac was down 1.81 per cent to $27.63.
National Australia Bank, which cut its interim dividend by 16 per cent after posting a first-half cash profit of $2.95 billion, was down 0.78 per cent to $25.58
On Wall Street overnight, the Dow Jones Industrial Average closed down 0.61 per cent, the S&P 500 was down 0.75 per cent and the tech-heavy Nasdaq Composite was down 0.57 per cent.
The local currency slumped against the US dollar early on Thursday morning after the Federal Reserve held interest rates steady and indicated there would be no change either way any time soon.
The Aussie dollar is buying 70.15 US cents, from 70.49 US cents on Wednesday.