The Australian share market has closed higher, with solid performances across the financial sector underpinning the broader market.

At the close on Thursday, the benchmark S&P/ASX200 index was 16.7 points, or 0.3 per cent, higher at 5,569.5, while the broader All Ordinaries index was up 15.7 points, or 0.28 per cent, at 5,532.3, according to preliminary figures.

On the ASX 24, the March share price index futures contract was three points higher at 5,515, with 28,855 contracts traded.