The Australian share market has closed higher, posting modest gains in subdued trading.

At the close on Monday, the benchmark S&P/ASX200 index was 8.2 points, or 0.15 per cent, higher at 5,539.9, while the broader All Ordinaries index was up 9.5 points, or 0.17 per cent, at 5,528.7, according to preliminary figures.

On the ASX 24, the September share price index futures contract was 13 points higher at 5,498, with 14,524 contracts traded.