The Australian share market has closed almost 1.5 per cent higher, with strong gains across all sectors.

At the close on Monday, the benchmark S&P/ASX200 index was 79.3 points, or 1.47 per cent, higher at 5,473.8, while the broader All Ordinaries index was up 77.5 points, or 1.44 per cent, at 5,447.0, according to preliminary figures.

On the ASX 24, the March share price index futures contract was 79 points higher at 5,446, with 14,899 contracts traded.