The Bombay Stock Exchange benchmark Sensex today surged by 222 points to a 16-month high.br/br/The 30-share index gained 222.59 points to close at 16,677.04 points, a level last seen on May 23, 2008.br/br/Brokers said fund-based buying picked up on reports that the global economic recession is almost over.br/br/The US Federal Reserve Chairman, Ben S Bernanke, said the worst US recession since the 1930s has probably ended. The wide-based National Stock Exchange index Nifty also crossed a crucial 4,900 points level gaining 66.30 points to close at 4,958.40 points.