Shares fall again, wiping out gains for the month

In the mining sector, BHP fell 1.7 per cent after walking away from its bid for Anglo American. (James Ross/AAP PHOTOS)

The local bourse has erased its gains for the month and recorded its seventh losing day out of the past eight sessions as sentiment turns increasingly bearish.

The benchmark S&P/ASX200 index on Thursday finished down 37.4 points, or 0.49 per cent, to 7,628.2, while the broader All Ordinaries dropped 39.8 points, or 0.5 per cent, to 7,895.9.