The Bombay Stock Exchange benchmark Sensex shot up by over 118 points, 0.68 per cent, to cross 17,500 points for the first time since January 20 in opening trade on Wednesday on a flurry of buying by funds driven by rallies in global markets.

The 30-share index, which had gained 218.19 points in the previous volatile session, gained another 118.48 points to reach 17,501.66 points, the highest level since January 20, with all the sectoral indices trading in the positive. The wide-based National Stock Exchange index Nifty rose 35.50 points, or 0.68 per cent, to 5,233.60 points.