THE share market finished lower amid profit-taking and a fall on Asian bourses, dragged down after a surprise interest rate increase by the US central bank.
Thebenchmark S&P/ASX200 index closed down 19.8 points, or 0.43 per cent, at 4635.1 points, while the broader All Ordinaries index fell 17.6 points, or 0.38 per cent, to 4,656.3 points.
On the Sydney Futures Exchange at 1615 AEDT, the March share price index contract was 19 points lower at 4606 on 28,028 contracts.
Shares started the session in positive territory but fell after Asian traders reacted negatively towards a decision by the US Federal Reserve to raise interest rates.
"Obviously the market came off pretty strongly when the Asian markets came online around midday," said IG Markets analyst Ben Potter.
"The concerns were weighing there after the discount rate hike by the US Federal Reserve this morning," said Mr Potter said.
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The US Federal Reserve overnight increased the interest rate it charges on emergency loans to banks to 0.75 per cent, from 0.5 per cent.
Locally, NAB was the worst performer among the big banks, falling 70 cents, or 2.7 per cent, to $25.25.
The bank revealed flat cash earnings of $1.1 billion for the three months to December 31, compared with the same period a year earlier.
The result was weaker than Westpac's first quarter results unveiled recently.
Commonwealth Bank fell 19 cents to $52.81, ANZ was off nine cents to $21.96, while Westpac bucked the trend, rising seven cents, or 0.28 per cent, to $25.46.
Macquarie Group was off 93 cents to $46.25.
Market down at closeFirst Horizon closes down equity research
