Six of 11 sectors traded higher on the ASX, but losses in key stocks has the market lower. -AAP Image
Banks, health care and discretionary spending stocks have led Australia's share market lower, as it retreats from its recent record peak.
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The S&P/ASX fell 33.2 points, or 0.38 per cent, to 8797.2, as the broader All Ordinaries sank 31.5 points, or 0.35 per cent, to 9,063.7.
The top-200 has slipped 250 points, or 2.8 per cent, from its all-time intraday peak of 9,054.5, reached on August 25.
Six of 11 local sectors finished the day higher, but a 0.9 per cent slip in the heavyweight financials sector and a two per cent tumble in health care stocks weighed on the broader market.
All big four banks traded lower, as Bendigo Bank joined ANZ and NAB to announce job cuts and restructures, prompting investors to weigh narratives of clever cost-cutting against concerns of broader economic weakness.
The Australian dollar is buying 66.05 US cents, up from 66.01 US cents on Wednesday at 5pm.
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