The Australian share market has opened almost one per cent higher.

At 1010 AEDT on Thursday, the benchmark S&P/ASX200 index was up 48.7 points, or 0.97 per cent, at 5,085.3, while the broader All Ordinaries index was up 46.9 points, or 0.93 per cent, at 5,100.00.

On the ASX 24, the March share price index futures contract was up 50 points at 5070, with 8,415 contracts traded.