The Australian share market has closed almost one per cent higher, its fifth straight session in positive territory.

At the close on Monday, the benchmark S&P/ASX200 index was 47.7 points, or 0.9 per cent, higher at 5,319.4, while the broader All Ordinaries index was up 47.2 points, or 0.9 per cent, at 5,307.3, according to preliminary figures.

On the ASX 24, the December share price index futures contract was 68 points higher at 5,305, with 23,346 contracts traded.