The Australian share market has closed higher, selling off in early trade, but recovering as the session wore on.

At the close on Monday, the benchmark S&P/ASX200 index was 11.2 points, or 0.19 per cent, higher at 5,888.7, while the broader All Ordinaries index was up 14.0 points, or 0.24 per cent, at 5,849.5, according to preliminary figures.

On the ASX 24, the March share price index futures contract was eight points higher at 5,831, with 21,291 contracts traded.