Recovering smartly from initial losses, the Sensex at the Bombay Stock Exchange stood a hefty 260 points, or 1.3 percent in posiitve territory, at 19,764 in afternoon trade, a short while ago. Earlier in the morning, however, the Sensex had opened with a loss of 53 points, or 0.3 per cent, to 19,451 on profit-booking by funds and retail investors, amid weak regional markets. The index had gained 217 points in the previous two trading sessions.Stock markets in Japan, China, Hong Kong, Indonesia, and South Korea had lost between 0.2 percent and 0.8 percent, today, on investor caution ahead of the European Central Bank's interest rate decision later today. The US Dow Jones Industrial Average had ended 0.9 per cent lower in yesterday's trade