SYDNEY, AAP – Shares on the ASX200 have closed higher than 7400 points for the first time in a week after investors remained calm at the winding back of US stimulus.

The market gained almost half a per cent on Thursday and most share categories rose.

Energy shares fared the worst, losing two per cent after a slump in oil prices.

The benchmark S&P/ASX200 index closed higher by 35.3 points, or 0.48 per cent, to 7428.

The All Ordinaries closed up 33.3 points, or 0.43 per cent, to 7746.3.

The Australian dollar was buying 74.42 US cents at 1619 AEDT, higher from 74.37 cents at Wednesday’s close.