Local shares flat as Commonwealth Bank hits record high

Commonwealth Bank shares have hit a new all-time high, climbing past the $190 mark. (Joel Carrett/AAP PHOTOS)

The local share market has closed about where it started despite its biggest component heading further into uncharted territory, with Commonwealth Bank shares closing at more than $190 for the first time.

The benchmark S&P/ASX200 index on Wednesday finished up 3.7 points, or 0.04 per cent, at 8,559.2 while the broader All Ordinaries gained 5.1 points, or 0.06 per cent, to 8,779.9.