Nifty rises to one-month high

MUMBAI (Reuters) - The Nifty surged to its highest level in more than a month on Friday, marking the best weekly performance since October, as blue chips such as Larsen and Toubro gained after the RBI's unexpected rate cut on Thursday.

Software exporter Tata Consultancy Services dropped 0.3 percent, dragging down peers, after it reported flat sequential U.S. dollar revenue growth for the December quarter.

Broader sentiment was also hit as regional shares fell after Switzerland's central bank unexpectedly scrapped its currency cap - jolting markets already roiled by plunging commodities prices.

The Nifty ended 0.23 percent at 8,513.80, hitting a one-month high and adding 2.8 percent this week.

 

The Sensex closed 0.17 percent higher at 28,121.89. The index gained 2.4 percent in the week.

Both indexes marked their best weekly performance since the week ended Oct. 31.

Blue-chip stocks gained. Larsen and Toubro ended 1.2 percent higher, while Sun Pharma added 2.9 percent.

(Reporting by Indulal PM; Editing by Biju Dwarakanath)