The Australian share market has closed lower, with banks and property the biggest losers as all sectors, except energy, fell.

At the close on Thursday, the benchmark S&P/ASX200 index was 94.2 points, or 1.58 per cent, lower at 5,879.1, while the broader All Ordinaries index was down 87.4 points, or 1.47 per cent, at 5,849.7, according to preliminary figures.

On the ASX 24, the June share price index futures contract was 96 points lower at 5,874, with 27,838 contracts traded.