The Australian share market has finished higher, closing on the highs of the day after a choppy session that saw it drift in and out of positive territory for much of the morning.

The S&P/ASX200 benchmark index ultimately closed up 49.5 points, or 0.83 per cent, at 5,991.8 points, while the All Ordinaries index finished Wednesday up 51.1 points, or 0.84 per cent, at 6,109.2.

The Australian dollar was buying 69.09 US cents, down from 69.41 US cents at the close of trade on Tuesday.