<b>RBI Effect:</b> Sensex up 153pts, bank stocks shine

The Sensex has moved back to higher levels and is now up 153 points at 10,369.

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 rallied 4% to Rs 759. ICICI Bank has added 3.6% to Rs 533.

Reliance Communications has surged 3.5% to Rs 249. Dr.Reddy's and NTPC have gained over 3% each at Rs 1,300 and Rs 111, respectively.

HDFC and HLL have advanced nearly 3% each to Rs 1,105 and Rs 235, respectively.

Tata Motors, Tata Steel and ACC are up over 2% each at Rs 699, Rs 490 and Rs 807, respectively.

Out of 2,254 stocks traded so far, 1,497 have advanced, 698 have declined and the rest are unchanged.