Miners and banks have helped the ASX200 to a modest gain, although the index remains below 6,000 points after three consecutive weeks of losses.

The S&P/ASX200 benchmark index closed higher by 19.3 points, or 0.33 per cent, at 5944.8 points on Monday.

The first session after the Victorian government’s decision to continue stage four virus restrictions in Melbourne for two weeks led to a session low of 5869.9 in the first 20 minutes before a recovery.

The All Ordinaries index closed higher by 21.1 points, or 0.35 per cent, to 6129.9.

The Aussie dollar was buying 72.77 US cents at 1619 AEST, higher from 72.68 US cents at the close on Friday.