India's stock markets ended the week on a strong note, extending rally to the sixth day. The Sensex today ended 246 points higher at 39,298, logging a total gain of 1,417 points in six sessions - its longest winning streak since March. Apart from hopes of an economic recovery over the next few quarters, a positive global sentiment has also lifted Indian markets. Foreign institutional investors have been net buyers over the past few sessions. Broader index Nifty today ended 0.65% higher at 11,661.

Here are 10 things to know about six-day Sensex rally:

1) "Indian equities outperformed major global markets for the week. The BSE-30 Index gained 3.1% in the past week. Equity markets witnessed a sharp rally on FII buying, progress in US-China trade talks and as well as a deal being reached between UK and EU on Brexit," said Sanjeev Zarbade, VP PCG Research at Kotak Securities.

2) Reliance Industries contributed the most to the index advance, increasing 1.4% while Yes Bank had the largest gain, rising 8%. RIL will report earnings later today. RIL today became the first Indian company to hit the market cap of ₹9 lakh crore.

3) Battered mid-cap and small-cap shares surged today both the BSE midcap and smallcap indices rose over 1.7% each. Sameet Chavan of Angel Broking said that overall breadth has improved and institutional buyers have finally started participating.

4) Foreign institutional investors have been net buyers in the past five trading sessions through Thursday.

5) Banking stocks have also participated in the rally after underperforming initially. The Nifty Bank index today rose 0.4%, extending its Thursday's 1.6% gain.

6) "A move above 11,700 zone will push the momentum further and index in that event is likely to test previous all 12,000 mark on the upside. Market breadth was strong indicating broader participation from mid and small caps. 11,450 is the near term support," said Amit Shah, technical research analyst with Indiabulls Ventures.

7) The September-quarter earnings season in India has started on a mixed note with some large-cap companies beating estimates and others reporting below-par results. FMCG major HUL reported better-than-expected results riding on the lower corporate tax rate. IT major Wipro had also reported better-than-expected Q2 numbers.

8) "Risk-taking ability is improving in the market with optimism over recovery in the economy led by stimulus, festive demand, good monsoon and lower interest rate," said Vinod Nair, head of research at Geojit Financial Services.

9) "Nifty shifted its support to 11600-11540 zone and resistance is coming near 11700-11774 zone," said Rohit Singre, senior research analyst at LKP Securities.

The global cues have been mostly positive. "Possibilities of a Brexit deal buoyed the Nifty. The deal, however, needs a stamp of the British Parliament, which is a contingent event. The chatter out of Washington and Beijing has been positive, so the odds of a phase one pact being signed next month at the G7 summit is high," says HDFC Securities. (With Agency Inputs)

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