The Australian share market has closed lower, with the big banks and global miner BHP Billiton weighing on the broader market.

At the close on Tuesday, the benchmark S&P/ASX200 index was eight points, or 0.145 per cent, lower at 5,510.9, while the broader All Ordinaries index was down 7.8 points, or 0.14 per cent, at 5,498.5.

On the ASX 24, the September share price index futures contract was nine points lower at 5,469, with 19,989 contracts traded.