The Sensex at the Bombay Stock Exchange surged 274 points, to cross the 17,000-point level for the first time in 17 months, and close at 17,127, today. The Nifty at the National Stock Exchange spurted 77 points, to 5,084. The market rose on optimism about the second quarter corporate earnings, expected from the second week of next month. Stock markets in Japan, China, Singapore, South Korea and Singapore ended mixed.