Sensex up 386pts; SBI, ICICI Bank lead

The Sensex is now up 386 points at 16,055.

SBI has zoomed over 4% to Rs 1,763, and ICICI Bank has soared 3.5% to Rs 958.

Satyam, Infosys and HDFC Bank have surged 3.3% each to Rs 436, Rs 1,860 and Rs 1,270, respectively.

Reliance Energy, Bharti Airtel and Reliance Communications have rallied around 3% each to Rs 955, Rs 857 and Rs 553, respectively.