The Australian share market has rebounded after suffering its biggest fall in three months on Thursday.

All sectors were higher, except gold.

Quay Equities managing director David Reynolds said the recovery showed Thursday’s sell-off had been over-done and conditions were still supporting investing in equities.

The release of economic data showing Japanese inflation was back to zero and had slowed for a seventh straight month might also have the market thinking more stimulus is likely, he said.

“These QEs, free-flowing cash, low interest rates are really putting a rocket under this market … who knows where it all ends and people are trying to ride it as long as they can,” Mr Reynolds told AAP.

Consumer discretionary stocks are the top performers, with retailer Harvey Norman nine cents, or 2.1 per cent, higher at $4.37, JB Hi-Fi up 23.5 cents at $18.635 and Flight Centre putting on 63 cents to $39.19.

Energy stocks were up as crude oil jumped five per cent after bombing of Shi’ite rebels in Yemen.

Woodside Petroleum had added 13 cents to $35.40, Santos had lifted nine cents to $7.64 and Oil Search gained three cents to $7.71.

The big banks were all higher after a mixed start to trading, with National Australia Bank adding 23 cents to $38.88, Westpac finding 42 cents to $39.37, Commonwealth Bank recovering to be up 86 cents at $94.70 and ANZ 36 cents better at $36.76.

KEY FACTS

* At 1215 AEDT on Friday, the benchmark S&P/ASX200 index was up 52 points, or 0.88 per cent, at 5,931.1.

* The broader All Ordinaries index was up 49.7 points, or 0.85 per cent, at 5,899.6.

* The June share price index futures contract was up 48 points at 5,933 points, with 13,044 contracts traded.

* National turnover was 748.6 million securities worth $4.1 billion.