04 May Live Update- Sensex roses 30,000 mark, Nifty above 9300

The benchmark index BSE edged higher on Thursday, early trade crossing the 30,000 mark yet again. The broader Nifty also, rises a day after closing marginally lower. At 10.10 AM, the BSE Sensex was up 178.78 points or 0.60% at 30,073.58. The NSE Nifty-50 index advanced 36.05 points or 0.39% at 9,348.00. In the broader market, the BSE Mid-cap and the BSE Small-cap indices gained 0.5% and 0.4%, respectively. 

Sectorally, Nifty PSU Bank index was the major gainer, led by gains in Oriental Bank of commerce Syndicate bank and Union Bank.  

Reliance Industries Ltd fell 0.45%. A subsidiary of RIL, Reliance Corporate IT Park announced that it has signed an MoU with SAP-SE to start SARAL GST solution for taxpayers in the GST system. 

ICICI Bank galloped over 5% to Rs 286 after the bank reported robust jump in standalone net profit to Rs 2,024.64 cr, for the Q4 results. The bank had made a consolidated profit of Rs 701.89 cr, in the January-March quarter of the financial year 2015-16.  

The rupee falls against the U.S dollar in early opening trade. Banking stock rise, while the shares of Intellect Design Arena and MPhasis Ltd fall. 

The Cabinet, led by PM Narendra Modi, on Wednesday approved a new framework for dealing with Rs 6.00 lakh crore worth of NAPs (non-performing assets ) in the banking system.