Australian share market jumped, driven mainly by banks and consumer staple stocks.

The benchmark S&P/ASX200 index gained 12.7 points to 4,912.1 points and the broader All Ordinaries index jumped 11.7 points to settle at 4,942.2 points.

At 1626 AEDT, the March share price index contract climbed 12 points to 4,896 on a volume of 14,904 on the Sydney Futures Exchange.

Shares in Coca-Cola Amatil advanced 18 cents to $11.29, while shares in Billabong added 58 cents to $11.55.

Shares in Woolworths gained 24 cents to $28.09 and Wesfarmers shares jumped 76 cents to $31.46.

Commonwealth Bank advanced 72 cents to $56.16, while Westpac and ANZ added 10 cents and 13 cents to $25.15 and $22.25 respectively.

Among mining giants, shares in BHP Billiton slipped 15 cents to $43.62; Fortescue Metals Group shed 11 cents to $5.06, while Atlas Iron was down by 8 cents at $2.15.

Strong retail sales figures published on Thursday boosted performance of the consumer staples sector.