The share market has taken its sharpest fall in seven weeks as profit-takers moved in, selling off across the market and dropping the benchmark index back under 6,000 points.

At the close the benchmark S&P/ASX200 was down 0.88 per cent, at 5,968.7 points, after the index pushed through 6,000 points on November 7, the first time it had achieved the mark in almost a decade.

Philip Capital senior adviser Michael Heffernan said an absence of positive local data and poor overnight leads led investors to cash in their October gains right from the opening bell.

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