The Australian share market has edged into a positive territory for the first time this week all thanks to a lift in bank stocks.

At the close on Wednesday, the S&P ASX200 index was up 19.9 points, or 0.38 per cent, at 5,227.7 points and the All Ordinaries was up 16.6 points, or 0.31 per cent, at 5,326.6 points.

CMC Markets chief market analyst Ric Spooner told Xinhua investors were beginning to show interest within the Australian market by buying into it.

"We saw a bit of buying into the four major banks (stocks) and Telstra today (Wednesday)," Spooner said.

At the close, ANZ was up 0.62 percent, the National Australia Bank rose 0.57 percent, Westpac jumped 1.46 percent, while the Commonwealth Bank of Australia climbed 0.95 percent.

BHP Billiton lost 1.00 percent, rival Rio Tinto retreated 1.33 percent while gold miner Newcrest fell 0.60 percent.

Oil Search sank 0.93 percent, Santos tumbled 5.38 percent while Woodside Petroleum slipped 0.73 percent.

Wesfarmers increased 1.19 percent while rival Woolworths gained 0.36 percent.

Qantas rallied 0.30 percent while telecommunication giant Telstra was 2.63 percent higher at Wednesday's close.

Source : XINHUA