The Sensex at the Bombay Stock Exchange gained 117 points, or 0.7 percent, to 16,155, today, on fresh buying by funds, on hopes of a rate cut by the Reserve Bank, on softening inflation, and amid rising overseas markets.The Nifty at the National Stock Exchange rose 35 points, or 0.7 percent, to 4,866.Stock markets in Japan, Hong Kong, South Korea and Singapore rose between 0.6 percent and 1.8 percent, on easing worries over the euro zone debt crisis.