Rebounding strongly from initial losses, the Sensex at the Bombay Stock Exchange gained 136 points, or 0.8 percent, to close above the 17,000 level after seven weeks, at 17,033, today, as Brent crude oil fell to an 18-month low, and after investment bank, JP Morgan upgraded the Indian market. The Nifty at the National Stock Exchange rose 44 points, or 0.9 percent, to 5,165. But stock markets in China, Hong Kong, South Korea and Singapore fell between 0.8 percent and 1.4 percent, after the US central bank cut its 2012 growth forecast for the US economy.