The share market has closed lower for a fourth straight day as banking and energy stocks weighed on the market.

“We’ve really been dragged down by the energy sector, with falling oil prices still a concern, and the financial sector is weighing as well,” Bell Direct equities analyst Leanne Jones said.

The resignation of Westpac chief executive Gail Kelly contributed to its share price fall, along with profit taking by investors in all the major banks.

Westpac lost 37 cents to $32.96, Commonwealth Bank dropped 58 cents to $81.27, ANZ shed 16 cents to $32.05 and National Australia Bank was 25 cents lower at $32.40.

In the energy sector, Santos shed 28 cents to $12.17, Oil Search dropped 18 cents to $8.35 and Woodside was 13 cents weaker at $40.11.

The market has dropped 1.9 per cent in value so far this week, after four weeks of gains.

Ms Jones said the market was lower from the start of trade on Thursday, due to a weak lead from overseas markets.

The big miners were relatively subdued, with BHP Billiton up five cents at $33.25, Rio Tinto up 29 cents at $59.70, while Fortescue Metals surged late in the day to add seven cents to $3.03.

Grains handler and marketer GrainCorp dropped nine cents to $8.45 as it said this year’s harvest from the eastern states was likely to be below average amid hot, dry conditions.

KEY FACTS

* At the close on Thursday, the benchmark S&P/ASX200 index was down 20.4 points, or 0.37 per cent, at 5,442.7.

* The broader All Ordinaries index was down 19.5 points, or 0.36 per cent, at 5,423.5.

* The December share price index futures contract was down 37 points at 5,451 points, with 24,365 contracts traded.

* National turnover was 1.5 billion securities worth $4.8 billion.