Stock markets extended gains for the sixth straight session today, with the BSE benchmark Sensex closing 50 points higher on expectations of robust corporate earnings following healthy quarterly tax payments by companies.
    
Drawing strength from the overnight rally on Wall Street, the Bombay Stock Exchange's 30-share bellwether ended at 17,462.87, up by 50.04 points -- its best closing since May 3.
    
The barometer opened higher, buoyed by an over two percent rally in the US markets last night, but profit booking by investors shaved off most of the gains, brokers said.     

The session was choppy and the Sensex moved between a low of 17,407.30 points and a high of 17,530.38 during the day.
    
The National Stock Exchange's wide-based 50 share Nifty Index ended 0.21 percent higher at 5,233.35 points.
    
Market sentiment was up on the higher payment of advance taxes, a measure of the economic activity and rise in profitability of companies, brokers said. Indirect taxes went up by 49 percent to around Rs 35,000 crore during April-May.     

"Market sentiment is bullish on good advance tax numbers  and (expectations of) a normal monsoon. The momentum is likely to continue as confidence among investors is coming back," Unicon Financial CEO Ganjedra Nagpal said.
    
Auto stocks were on top gear, with Tata Motors climbing 2.39 percent, a day after the company said its global sales rose by 50 percent in May on robust demand for both commercial and passenger vehicles.
    
Continuing its rising streak for another day, Anil Ambani -led Reliance Communications ended 0.21 percent higher. The stock has been on rising streak in recent sessions on various steps taken by the company management.
    
The country's most valued firm Reliance Industries, which has the maximum weight on the benchmark, ended with a loss of 0.76 percent to Rs 1,057.0.76. India's top telecom operator Bharti Airtel on the other hand dropped 1.28 percent.