The Sensex at the Bombay Stock Exchange surged 296 points, or 1.8 per cent, to 16,928, in opening trade, on Monday, on fresh buying by funds, after the government said the Dubai crisis should not have any major impact on the economy.Data showing that the Indian economy grew at a much stronger-than-expected 7.9 percent in the second quarter also boosted sentiment.So, gaining further, the Sensex stood 362 points, or 2.2 percent in the green, at 16,994, a short while ago. The Nifty at the National Stock Exchange spurted 113 points, to 5,055.Stock markets in China, Hong Kong, Japan, South Korea and Taiwan were up by between 1.2 percent and 3.4 percent, after the United Arab Emirates offered emergency assistance to banks in Dubai, soothing market fears about a looming debt default.