BENGALURU, April 29 Reuters Indian shares extended gains to a second straight session on Friday with Reliance Industries climbing to a record high, while a fall in Axis Bank following its Marchquarter results capped the rise in the benchmark Nifty 50 index.

The NSE Nifty 50 index was up 0.19 at 17,278.60, as of 0440 GMT, while the SP BSE Sensex rose 0.23 to 57,651.44. The indexes rose over 0.5 early on Friday, before giving up some gains.

Upbeat U.S. tech earnings on Thursday helped stocks across the globe clock gains with Indian benchmark indexes rising more than 1.

Both the indexes, however, were likely to post losses of more than 1 in April.

Asian shares inched higher on Friday, although investor sentiment remained fragile amid fears about global economic growth and looming U.S. Fed rate hikes.

We are seeing an extension of the recovery seen in the previous session … Ukraine war situation, pace of interest rate hikes, inflationary, high commodity prices and limited purchasing power of consumers will continue to mount pressure and keep markets rangebound and volatile, said KK Mittal, investment adviser at Venus India.

Conglomerate Reliance Industries extended gains to a fourth session, rising 1.3 to scale a record high of 2,856.15 rupees.

Sun Pharmaceutical rose 5 to a near sevenyear high and was the top percentage gainer on the Nifty 50 index, and pushed Nifty39;s Pharma subindex 2 higher.

Varroc Engineering soared 20 to its highest since January 2020 after…