The Australian share market has opened one per cent higher.

At 1010 AEDT on Tuesday, the benchmark S&P/ASX200 index was up 53.1 points, or 1.06 per cent, at 5063.6, while the broader All Ordinaries index was up 50.5 points, or 1.00 per cent, at 5079.0.

On the ASX 24, the March share price index futures contract was up 43 points at 5064, with 9,525 contracts traded.