THE Australian share market has opened lower, weighed down by losses in the banking and retail sector. At 1015 AEST on Monday, the benchmark S&P/ASX200 index was down 42.7 points, or 0.86 per cent, at 4,940.8, while the broader All Ordinaries index was down 41.6 points, or 0.84 per cent, at 4,922.7. On the ASX 24, the June share price index futures contract was down 34 points at 4,939, with 11,099 contracts traded.