Indian shares ticked higher on Friday as a volatile week draws to a close, with Tata Steel Ltd climbing the most in 14 months after the steelmaker beat expectations for quarterly profit.
The broader Nifty rose 0.26 percent to 11,672.6 as of 0559 GMT, while the benchmark Sensex added 0.17 percent at 38,798.59. The indexes were, however, set for their worst week since mid-February.
The stock market swung between gains and losses this week as corporate results trickled in, while a spike in oil prices pressured shares and the rupee.
Tata Steel, up 7 percent, was the top percentage gainer on the indexes on Friday. Its fourth-quarter net profit came in at 24.31 billion rupees ($346.81 million), the company reported on Thursday, beating analysts' estimates for a profit of 21.30 billion rupees on the back of higher production and deliveries.
"Better-than-expected results from UltraTech Cement and Tata Steel indicate that pessimism on industrial growth is overdone," said Sanjiv Bhasin, executive vice-president, markets and corporate affairs, India Infoline.
Tata Steel's rival JSW Steel Ltd climbed 4.3 percent in its sharpest intraday gain since Feb. 12.
Axis Bank Ltd shares rose 3.3 percent after the private-sector lender reported an improvement in asset quality. Morgan Stanley said big asset-quality worries were likely over for the bank.
Index-heavy IT stocks Infosys Ltd and Tata Consultancy Services Ltd rose about 1.4 percent each, and were among the top boosts to the indexes.
Maruti Suzuki India Ltd fell for a sixth straight session, capping the market's gains. The stock fell 2.3 percent to its lowest in nearly a month on Friday, a day after the carmaker posted a drop in quarterly profit and forecast a weak year ahead.
($1 = 70.0960 rupees)