Australia’s share market closed above 6,000 points for the first time since early September after a big-spending federal budget helped all sectors gain.

The S&P/ASX200 benchmark index finished higher by 74.3 points, or 1.25 per cent, to 6036.4 on Wednesday.

Tuesday’s federal budget delivered measures such as tax cuts and instant asset write-offs for most businesses, which helped investors shrug off a negative lead from Wall Street.

The All Ordinaries index closed better by 75.4 points, or 1.22 per cent, to 6239.6.

The Aussie dollar was buying 71.21 US cents at 1621 AEDT, lower from 71.81 US cents at the close of trade on Tuesday.