The whipsaw action on the Australian share market has continued for a fifth straight day of back-and-forth action.

After rising Monday, falling Tuesday, rising Wednesday and falling again Thursday, the S&P/ASX200 benchmark index finished Friday up 76.1 points, or 1.43 per cent, to 5,404.8 points, while the All Ordinaries index was 74.8 points higher, or 1.38 per cent, at 5,492.8.

The Australian dollar was buying 64.49 US cents, up from 64.37 US cents at the close of trade on Thursday.