The Sensex at the Bombay Stock Exchange rallied 186 points in late morning trade, today, soon after the Reserve Bank announced a cut in the Cash Reserve Ratio in its monetary policy review. All the sectoral indices were trading in the green, with the banking index the biggest gainer. Later, in the afternoon, the Sensex gathered further momentum, and stood a solid 285 points, or 1.7 percent in positive territory, to cross the psychological 17,000 mark, at 17,037, a short while ago. Earlier in the morning, the Sensex had risen 83 points in opening trade. Stock markets in Japan and Indonesia posted modest gains, today, on signs that Europe is taking steps to tame its sovereign debt crisis. But most Asian bourses are closed for a holiday. Wall Street had ended almost flat, overnight, as investors took a break from a recent rally.