Rallying for the second straight day, the Sensex at the Bombay Stock Exchange surged 272 points, or 1.6 percent, to close above the 17,000 level, at 17,198, on better than expected domestic GDP growth, and positive global cues, today. The Nifty at the National Stock Exchange spurted 89 points, or 1.8 percent, to 5,122. Stock markets in Japan, China, Hong Kong, Singapore and South Korea rose between 1 percent and 2.5 percent, amid receding worries about Dubai's debt problem.