The Australian share market has closed higher, with the big miners, banks and food retailers recovering from losses earlier in the week.

At the close on Thursday, the benchmark S&P/ASX200 index was 62.3 points, or 1.15 per cent, higher at 5,464.3, while the broader All Ordinaries index was up 60.0 points, or 1.11 per cent, at 5,446.8.

On the ASX 24, the September share price index futures contract was 78 points higher at 5,431, with 32,606 contracts traded.