The Australian sharemarket pulled back from its best close in 11 months on Tuesday ending lower despite continued momentum elsewhere in Asia with the start of results season driving sharp price moves.

The S&P/ASX 200 Index retreated 28.9 points, or 0.4 per cent, to 6851.8 with the moderation coming after the benchmark’s month-to-date gain topped 4 per cent with its previous close on Monday.