BENGALURU, April 28 Reuters Indian shares rose on Thursday and stocks across the board rallied as risk appetite improved globally on the back of upbeat technology earnings in the U.S., while Hindustan Unilever rose to a nineweek high following quarterly results.

The NSE Nifty 50 index was up 0.44 at 17,112.60, as of 0454 GMT, while the SP BSE Sensex rose 0.43 to 57,061.24.

Both the indexes fell sharply in the previous session as news of Russia cutting gas supplies to Eastern Europe, prospects of aggressive U.S. interest rate hikes, and worries over surging inflation and stringent pandemicrelated curbs in China hurt risk appetite.

On Thursday, MSCI39;s broadest index of AsiaPacific shares outside Japan rose 0.5 and Nasdaq 100 futures NQc1 were up 1 as investors took comfort in technology earnings.

In India, Nifty39;s FMCG subindex rose 1.3, driven by a 4.3 jump in Hindustan Unilever after the firm39;s quarterly profit rose and beat analysts39; estimates.

However, Godrej Consumer Product fell 3.4 and kept a lid on gains on the subindex.

Indonesia widened the scope of its export ban to include crude and refined palm oil on Wednesday. India is a major buyer of palm oil and analysts have said listed players such as Godrej face earnings risks on demand and margins due to the ban. 

Shares of Reliance Industries extended gains for a third session and rose 1.5 to hover near record highs.

Late on Wednesday, the conglomerate said an investment company set up by Rupert…