The share market has posted its first gain in four days, though stronger commodity prices were the main driver rather than a surprise drop in unemployment.

An unexpected drop in the jobless rate to 6.1 per cent in March was not greeted with enthusiasm from investors, as it cast doubt on an expected interest rate cut by the Reserve Bank.

The benchmark S&P/ASX200 index came within 30 points of the 6,000 point mark in early trade, and hit a low of 5,933 soon after the release of the jobs data.

High yielding bank stocks in particular fuelled the intra-day fall.

“It was always going to be a case of the good news being bad news for the market,” OptionsXpress market analyst Ben Le Brun said.

The big miners held the market in positive territory, due to a jump in crude oil and base metals prices.

“It’s certainly helping the energy sector; for the big miners … it’s more a sentiment driver than anything,” Mr Le Brun said.

Commonwealth Bank still managed to add 57 cents to $93.01, ANZ gained eight cents to $36.02, National Australia Bank rose 28 cents to $39.31 and Westpac closed 35 cents higher at $39.27.

BHP Billiton added 72 cents to $30.23, Rio Tinto edged four cents higher to $55.87 and Fortescue Metals soared 10 cents, or 5.4 per cent, to $1.955 after reducing its costs in the three months to March.

Oil and gas producer Woodside Petroleum added seven cents to $35.48 and Santos was 21 cents higher at $7.93.

Nine Entertainment gained eight cents, or 3.7 per cent, to $2.23 after selling its Nine Live business, which includes Ticketek, and promising higher returns to shareholders.

KEY FACTS

* At 1615 AEST on Thursday, the benchmark S&P/ASX200 index was up 39.1 points, or 0.66 per cent, at 5,947.5 points.

* The broader All Ordinaries index was up 40.3 points, or 0.69 per cent, at 5,917.6 points.

* The June share price index futures contract was up 42 points at 5,941 points, with 23,321 contracts traded.

* National turnover was 1.5 billion securities worth $4.2 billion.