Local shares moved higher despite falls in the miners and a disappointing start to company reporting season.

The benchmark S&P/ASX 200 Index gained 36.5 points, or 0.7 per cent, to 5331.5 on Wednesday, as heavy falls among resource stocks were outweighed by gains in the finance sector. The broader All Ordinaries Index also added 0.7 per cent.

Local shares received little guidance from overseas at the open as US equity markets were closed on Monday night due to the Martin Luther King Jr holiday. Major markets around Asia provided positive leads on Tuesday afternoon.

Consumer services was the best-performing sector, up 1.5 per cent, buoyed by gambling stocks. Casino operator Crown Resorts added 2.5 per cent to $18.

The big four banks all closed higher. Commonwealth Bank and National Australia Bank both rose 1 per cent to $76.10 and $33.99 respectively. Westpac added 0.8 per cent to $31.79, and ANZ gained 0.9 per cent to $31.15.