The BSE benchmark Sensex was trading 321 points up at 16,961 points a shortwhile ago. The 30-share barometer recovered sharply by over 271 points to 16,911 in early trade today with all the sectoral indices, led by banking, metals and auto, gaining up to 1.97 per cent. It lost over 278 points in the previous two sessions. The wide-based National Stock Exchange index Nifty was also trading 104 points up at 5,147 points in the noon trade.