The Sensex at the Bombay Stock Exchange surged 271 points, or 1.6 percent, to 16,911 in early trade, today, on strong buying interest, amid positive global markets. Later, the Sensex pared some of its initial gains, but still stood a good 184 points, or 1.1 percent in positive territory, at 16,824 in afternoon deals, a short while ago. The 30-share Sensex had lost over 278 points in the previous two trading sessions.Other Asian markets in Japan, China, Indonesia, South Korea, Hong Kong, Singapore and Taiwan were up by between 0.1 percent and 2.5 percent, today, after the European Central Bank signalled its resolve to defend the euro zone, raising expectations that it will move quickly to tackle skyrocketing borrowing costs in countries like Spain. Over in the US, the Dow Jones Industrial Average had rallied 1.7 per cent in yesterday's trade.