The share market is lower as the dominant bank and mining sectors post falls.

The benchmark S&P/ASX 200 index again dipped below 5,000 points in early trade after falls on Wall Street and European markets late last week.

But it recovered some ground in morning trade, with gains coming from gold miners, gaming companies and some industrial stocks, including Qantas.

All the major lenders, with NAB the worst performer, down one per cent.

Weaker commodity prices drove falls by BHP Billiton and Rio Tinto down, though Fortescue Metals was steady.

KEY FACTS

* At 1200 AEST on Monday, the benchmark S&P/ASX200 index was down 22.3 points, or 0.44 per cent, at 5018.3 points.

* The broader All Ordinaries index was down 21.9 points, or 0.43 per cent, at 5,038 points.

* September share price index futures contract was 24 points lower at 5,001 points, with 20,051 contracts traded.

* National turnover was 741 million securities worth $2.2 billion.