The Australian share market has opened a third of a per cent higher.

At 1011 AEDT on Friday, the benchmark S&P/ASX200 index was up 19.7 points, or 0.40 per cent, at 4,999.8, while the broader All Ordinaries index was up 18.8 points, or 0.38 per cent, at 5,017.4.

On the ASX 24, the March share price index futures contract was up 15 points at 4,982, with 13,879 contracts traded.