Indian shares rose on Thursday, on track for a second consecutive day of gains, with investors buying stocks across the board and as Reliance Industries hit an all-time high.

The NSE Nifty 50 index was up 0.64% at 17,242.05, as of 0347 GMT, while the S&P BSE Sensex rose 0.61% to 57,389.03. Both the indexes rose sharply in the previous session as beaten-down technology stocks rebounded and Reliance Industries advanced.

On Thursday, all major Nifty sub-indexes rose, with Nifty's small-cap index adding 1.25% and the mid-cap index rising 0.9%.

Reliance extended gains to a third straight session and rose as much as 1.94%. Morgan Stanley raised its target price on the stock to 3,253 rupees ($42.61) from 2,926 rupees.

IT services provider HCL Technologies and food and beverage company Nestle India, however, fell 0.3% and 1.5%, respectively, ahead of reporting their quarterly results. ($1 = 76.3520 Indian rupees)

(Reporting by Chandini Monnappa in Bengaluru; editing by Uttaresh.V)