The share market has closed lower amid pressure on mining stocks.

At the close on Wednesday, the benchmark S&P/ASX200 index was 54 points, or 0.98 per cent, lower at 5,463.1, while the broader All Ordinaries index lost 51 points, or 0.93 per cent, to 5,443, according to preliminary closing figures.

On the ASX 24, the December share price index futures contract was 43 points lower at 5,488 with 24,031 contracts traded.