The benchmark S&P/ASX 200 index closed 0.5% lower at 8,778.70 on the final trading day of the current financial year. The index rose 3.5% for the quarter, its best since September 2025, driven by index heavyweight miners and banks

The Australian sharemarket has made a steady start to the last session of the financial year with banks driving higher but mining stocks weighed on the index.

The local sharemarket has ended the financial year with a whimper, ending on the lows of the day amid sharp losses for goldminers.