The Australian share market turned positive again after two days of losses, with investors buoyed by strong overseas leads.

The ASX200 cracked the 5000-point mark for only the third time in 20 days of trading.

Consumer staples stocks shot up, including supermarket owner Woolworths, which lifted 84 cents, or 2.4 per cent, to $35.60 while rival Wesfarmers gained $1.21, or 2.97 per cent, to $41.89.

Telco Telstra also had a day out, gaining 2.7 per cent, or 13 cents, to $4.82.

CommSec market analyst Steve Daghlian said the stock was up 10.3 per cent in 2013 and trading at a five-year high.

However the news was not all good, with traders still shunning mining and energy stocks, with the steep commodity price drops still fresh in people’s minds, according to CMC Markets senior trader Tim Waterer.

Mining stocks were down for the fifth day in a row, as was the biggest resources stock BHP Billiton, which lost nine cents to $32.06.

That came after the company maintained its production guidance for 2012/13 in its latest quarterly report despite weather-related disruptions.

Australia’s largest gold miner Newcrest Mining made gains, firming 10 cents to $17.10 after heavy falls so far this week due to record plunges in the price of gold.

The major banks posted strong gains, with ANZ 23 cents higher at $29.09, Commonwealth Bank gained $1.15 at $69.29, National Australia Bank improved 41 cents to $32.24, and Westpac was 32 cents richer at $31.82.

KEY FACTS

* At Wednesday’s close, the benchmark S&P/ASX200 index was up 53.8 points, or 1.09 per cent, at 5,004.6 points.

* The broader All Ordinaries index was up 49.5 points, or 1.0 per cent, at 4,993.6 points.

* The June share price index futures contract was up 56 points at 5,002 points, with 27,472 contracts traded.

* National turnover was 1.36 billion securities worth $4.16 billion.