The Australian sharemarket finished Wednesday’s session 0.7 per cent lower at 7369.9 as the big banks weighed on the benchmark index.

Commonwealth Bank dived 8.1 per cent to $98.99 following its first quarter update. ANZ tumbled 2 per cent to $27.84, Westpac 1.7 per cent to $22.37 and NAB 1.1 per cent to $28.91.

Nufarm was the session’s biggest laggard, plunging 8.6 per cent to $4.59.

Gold miners also struggled. Chalice Mining fell 4.6 per cent to $9.86, Evolution Mining 2.9 per cent to $4.01 and Newcrest 2.1 per cent to $24.66.

Uniti Group led the market, rising 8.3 per cent to $4.18. Nickel Mines advanced 6 per cent to $1.15.