<b>RBI Effect:</b> Sensex up 150pts, HDFC Bank up 5%

The Sensex and is now up 150 points at 10,365.

Reserve Bank of India Governor Y V Reddy has hiked the repo and reverse repo rate by 25 basis points. However, the CRR and bank rate remain unchanged.

HDFC Bank has surged 4.8% to Rs 764, and ICICI Bank has rallied 4.5% to Rs 538.

Reliance Communications has gained 3.5% at Rs 249. HLL and Dr.Reddy's are up nearly 3% each at Rs 235 and Rs 1,294, respectively.

NTPC and Tata Motors are up 2.5% each at Rs 110 and Rs 701, respectively.

Out of 2,341 stocks traded so far, 1,503 have advanced, 750 have declined and the rest are unchanged.