Alex Druce
(Australian Associated Press)

The Australian share market has closed near the 11-year high it hit during earlier trade, but the Aussie dollar is languishing at a near six-week low following below-target inflation data.

The benchmark S&P/ASX200 index finished up 62.7 points, or 0.99 per cent, to 6,382.1 points at 1615 AEST on Wednesday, while the broader All Ordinaries rose 59.5 points, or 0.93 per cent, to 6,470.6.

The healthcare sector climbed 2.38 per cent, while tech, consumer staples and heavyweight financial stocks more than offset a subdued day for local energy and mining shares.

The Aussie dollar slipped to six-week lows after inflation completely evaporated in the March quarter, and was buying 70.34 US cents from 71.19 US cents on Tuesday.

The ASX200 last reached such heights in January 2008 before the GFC wiped about 50 per cent of the value off the Australian share market.