The share market is lower for a second consecutive day amid worries of a Greek debt default.

The weakness comes after the market notched up its longest ever rally with 12 days of gains.

A combination of Greece’s refusal to implement austerity measures, local political uncertainty and profit taking after the market’s rally are now sending prices lower.

“It is not surprising really, we have seen bond markets higher which has probably foreshadowed we were due for a bit of a pull back,” IG market strategist Evan Lucas said.

The major banks are all lower, ahead of Commonwealth Bank reporting what is expected to be a record half year profit on Wednesday.

CBA was 49 cents lower at $92.44, National Australia Bank had shed 27 cents to $36.93, ANZ had dropped seven cents to $34.91 and Westpac was 22 cents weaker at $36.83.

Other financial stocks were also weaker, with Suncorp down 44 cents at $14.37 and Macquarie Group 41 cents weaker at $66.83.

Miners were slightly stronger, with BHP Billiton up 19 cents at 31.42, Rio Tinto up 36 cents at $60.67 and iron ore miner Fortescue Metals two cents higher at $2.48.

Mining services group Bradken’s shares had plummeted almost 25 per cent after the company reported a $93 million half year loss.

They were down 77 cents at $2.38.

KEY FACTS

* At 1220 AEDT on Tuesday, the benchmark S&P/ASX200 index was down 17.6 points, or 0.3 per cent, at 5,797.3 points.

* The broader All Ordinaries index was down 15.4 points, or 0.27 per cent, at 5,754.7 points.

* The March share price index futures contract was 20 points lower at 5,738 points, with 14,823 contracts traded.

* National turnover was 736 million securities worth $1.5 billion.